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Business dispute leads to lawsuit against restaurant group

Conducting business in New Jersey is not easy, especially when entering a partnership for a tough environment like the food industry. A great many restaurants face turmoil not just in the number of customers who come through the door, but between the chef and the financial backers. This is notably difficult when there is a relatively well-known chef who is opening the eatery. Having legal assistance beforehand is always advisable, but when there is a business dispute, it is even more important to have a legal firm who specializes in business cases.

A chef who became known after competing on the television program "Top Chef" and his business partners are being sued by a couple who say that they loaned their restaurant group $100,000 and did so under false pretenses. They say they have asked for the money back and did not get it. The married couple says that the chef's business partner - who is also on television - sought money from them four years ago. It was to pay for property, construction and equipment for the restaurant group.

In their lawsuit - filed in late-December - the couple says that the whole loan was supposed to be repaid by November of 2019 with interest payments of 9 percent per quarter. They say they did not get accounting information, dates as to when they would be repaid, or any other information as to the project. They say that there was misrepresentation and concealment as to how the money was invested and the business was operating. They have asked for banking information and financial statements, but never got them. Others were named in the suit. There was a similar lawsuit filed against the group in 2017 claiming that money was diverted from its intended purpose to other businesses.

People who loan money to a business enterprise under certain terms have the right to get their investment back based on the contract. If there is a contractual misinterpretation, a contract dispute or other problems that lead to business disputes, it is imperative to have legal help to sort the matter out and get the money back. A lawyer who understands business and has experience can help with a case.

Source: nj.com, "Celebrity 'Top Chef' sued by N.J. restaurant investors," Anthony G. Attrino, Jan. 3, 2018

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