Commercial Law

Kollias Law Firm Can Effectively Resolve Commercial Litigation Issues

The Kollias Law Firm represents businesses and individuals primarily in New Castle County and the Greater Delaware area in a wide range of commercial litigation. Mr. Kollias has extensive experience handling sophisticated business issues at trial, arbitration hearings and on appeal.

These issues include:

• Breach of contract
• Business collections
• Shareholder and LLC member disputes
• Business tort
• Insurance coverage disputes

Pursuing Business Collections On Your Behalf For Your Continued Profitability

Kollias Law aggressively pursues delinquent business debtors to obtain the money owed to your business. Recently, both the federal and state governments have enacted substantial regulations and Kollias Law has the experience required to effectively and expeditiously pursue business debtors through litigation.

Please note that the Kollias Law Firm does not handle collection cases against individuals, nor do we collect consumer debts. We are focused on business debts only.

Theories Of Collection Cases

A business collection case usually relies on one of two theories, Account Stated or Breach of Contract:

Account stated

Account stated is an admission that a person owes a particular amount of money to another. Often an account stated is in the form of an invoice or billing statement that is signed by the person who owes money. An account stated may also be established if a person does not object within a reasonable period of time to an invoice or statement.
There are three elements of account stated.

• First, there is a history of prior transactions between the parties that demonstrate a debtor-creditor relationship.
• Second, there is an agreement between the parties — whether express or implied from the circumstances — on the amount owed.
• Third, there is a promise from the debtor — whether express or implied — that s/he will pay the amount due to the creditor.

It is always important to review financial statements for errors in a timely fashion as creditors.

Breach Of Contract

A breach of contract occurs when a party in a contract fails to perform any term of the contract; however, not every breach of contract gives rise to a legal claim.

To determine whether you have a breach of contract claim, Mr. Kollias can provide advice on presenting your case.

Advocating For Clients Facing Business Torts

Kollias Law has represented clients facing business torts, including fraud and fraudulent conveyance, unfair business practices, and breach of fiduciary duty allegations. Generally speaking, corporate officers, directors, high-level employees, agents, and brokers all owe fiduciary duties to their principals, or to the corporation and its shareholders. Cases alleging breach of fiduciary duty could involve allegations of conflicts of interest, insider trading, fraudulent conduct, or breach of the duties of care and loyalty.

Arguably, the most important business tort is common law fraud.

Another common business tort is the intentional or tortious interference with business contracts or business relationships. This tort recognizes that business relationships are, under certain circumstances, a protected property interest that should be free from a third party’s unjustified interference and that any losses caused by this interference may be recoverable.

Where there is no contract between the parties, there may sometimes be a claim for tortious interference with prospective economic advantage.

Insurance Coverage Dispute Resolution Benefits From Experienced Legal Representation

In certain circumstances, you may be able to make a claim for bad faith and failure to provide insurance coverage. When you have a dispute with your insurance carrier, it is important that you quickly obtain competent representation, such as Mr. Kollias, to advocate for your interests. Because insurance companies often withhold payment as a negotiating tool, Kollias Law recommends you have effective legal representation in any dispute with an insurance company.

Securing Recovery For Or Defending Against Breach Of Contract

A breach of contract occurs when a party fails to perform under the terms of the contract. This can cause the non-breaching party significant damages, including the cost of trying to “cover” or find a substitute to fulfill the contract terms.

Mr. Kollias has the litigation experience necessary to recover on or defend against contract claims, including claims arising under the Uniform Commercial Code; a statute enacted in all 50 states that governs certain sales of goods, leases of equipment and other financial transactions.

Depending on the terms of the contract and circumstances of the breach, the non-breaching party may have several options for recovery, including:

• Enforcing the contract on its terms (specific performance)
• Canceling the contract and suing for restitution (repayment of money expended)
• Suing to recover compensatory damages
• Suing for liquidated damages as specified in the contract

Efficiently Resolving Shareholder And LLC Member Disputes

When a business or its owner has a dispute with a business partner, it is essential that the business and its owners obtain qualified legal representation to protect their interests. Frequently, due to allegations raised, the business requires separate representation from the owner to protect its interest. Mr. Kollias handles all aspects of shareholder, LLC member and partnership disputes.

Whether through litigation, arbitration or mediation, Kollias Law aggressively pursues each client’s case.

Mr. Kollias has experience in defending and prosecuting claims involving:

• Breach of fiduciary duty
• Conflicts of interest and self-dealing
• Shareholder derivative actions
• Minority shareholder, LLC and partnership rights
• Excessive management compensation
• Unfair buy-out agreements
• Failure to pay dividends or distributions
• Deadlocks and freeze-out disputes
• Appraisal rights