After hearing arguments Oct. 24 in a dispute between former shareholders of a company and the new owners over what assets the new owners should receive, the Indiana Supreme Court decided that the Court of Appeals decision should stand.
The justices Monday vacated their grant of transfer in Whiskey Barrel Planters Co. Inc. v. American GardenWorks Inc., et al., 966 N.E.2d 711 (Ind. Ct. App. 2012). The order signed by Chief Justice Brent Dickson says after hearing arguments and further discussion among the justices, the court determined it should not assume jurisdiction.
The Court of Appeals ruled in April that former shareholders Ralph and Ann Robinson were entitled to judgment on charges brought by new owners American GardenWorks and Millenium Real Estate Investment LLC arguing that the new owners were entitled to season football tickets owned by the Robinsons and a loan made to the Robinsons.
The dispute over the property hinged on the purchase agreement that said AGW would buy “substantially all” of certain property, but did not spell out everything in detail.