(317) 635-8900 (317) 236-9907
2700 Market Tower
10 West Market Street
Indianapolis, IN 46204
VISIT FIRM’S SITE

In 2011, Heritage Recycling, LLC, entered an agreement to purchase two carpet recycling systems and license technology related thereto for the purpose of sublicensing it to third parties.  The systems never performed as promised, and Heritage later learned that the seller did not own all of the rights to the intellectual property at issue.  Arbitration ensued, with Heritage seeking rescission of the contract based on the seller’s breach of its representations and warranties.  The seller filed counterclaims alleging breach of contract and other claims and seeking approximately $70 million in damages.  Following a 6-day arbitration hearing in January 2014, the arbitrator issued an award that rescinded the contract, ordered the seller to return the purchase price for the systems ($3 million) to Heritage, and denied the seller’s counterclaims in full.  The arbitrator also ordered the seller to pay Heritage’s share of the arbitrator’s fee.  Bingham Greenebaum Doll (Indiana) attorneys included Phil Fowler, Bri Clark and Ashley Paynter.