Kloiber Holdings v. Sopris LLC
Our attorneys prevailed on behalf of Kloiber Holdings, which was awarded more than $12 million plus attorneys' fees, based on a finding that Sopris LLC and its principal committed fraud and breached its fiduciary duties. The dispute arose from Kloiber's investment in a 27,000 acre cattle ranch that ceased operations in 2011 after a default on its credit faculties and the resulting liquidation of its assets. After a four week trial, Kloiber convinced an arbitrator that Sopris systematically looted the ranching business and ultimately caused the credit default. The arbitration award also invited briefing on punitive damages.