Overview
Parsons represented Idaho Pacific Lumber Company (IdaPac) in a lawsuit against Galena Opportunity, a construction developer, GO QOZ Boise, a land-owning entity that contracted with Galena Opportunity, and Bill Truax the owner and CEO of Galena Opportunity and manager of GO QOZ Boise. IdaPac purchased and provided lumber or a large multi-phased mixed-use building complex in downtown Meridian, known as Union 93. Shortly after construction began, the project shut down due to lack of financing leaving Ida Pac with nearly $300,000 in unpaid invoices and more than $600,000 in lumber purchased for the project, only a portion of which could reasonably be resold. IdaPaC became one of six plaintiffs. During mediation IdaPac offered to take a reduced settlement to end the matter to which opposing counsel countered with an offer of only a fraction of what IdaPac was owed. The matter went to trial and after six days, the jury came back with a verdict of $930,000, including damages for product that was delivered and invoiced, losses on mitigation sales for product that could not be delivered, losses for customized product that could not be resold and incidental damages including storge and interest losses on an asset-based loan.
Team
