BEAUMONT, Texas--(BUSINESS WIRE)--Starco Impex d/b/a Wholesale Outlet announced that it was awarded $988,002 by a Dallas County jury on March 2, 2012, on its counterclaim for breach of contract against Katalyst Beverage Corporation, the manufacturers of Sippin Syrup®. After inclusion of stipulated attorneys’ fees, pre-judgment interest, and court costs, the Final Judgment entered on that verdict is expected to be in excess of $1,100,000.
“While it is unfortunate that Katalyst did not choose to live up to its contractual obligations, we look forward to being made whole through collection of the Judgment.”
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The jury verdict came after a four-day trial in which the jury heard evidence regarding Katalyst Beverage Corporation’s termination of its Master Distribution agreement with Starco Impex after only one year of its contractual three-year term. Although Katalyst Beverage had filed the Dallas County lawsuit and made numerous allegations in an attempt to justify the termination, the jury completely rejected all of Katalyst’s claims. Then, the jury found for Starco Impex on its counterclaim and made the award of $988,002 in lost profits pertaining to the remainder of the contract period. The jury heard from numerous witnesses in the trial including two of Katalyst’s principals, Ron Urban and Gino Ciaschetti.
“We are very pleased that the jury found the facts to be as they are – Starco fully lived up to its obligations under the Master Distributor Agreement, and in fact was an essential part of the greatly increased sales of Sippin Syrup® that took place during the time that Starco acted as Master Distributor,” stated M. Tahir Javed, principal of Starco Impex. “While it is unfortunate that Katalyst did not choose to live up to its contractual obligations, we look forward to being made whole through collection of the Judgment.”
The jury’s verdict was 11-1 and was issued in Cause Number DC-10-11012-K in the 192nd Judicial District Court of Dallas County, Texas.
Starco Impex was represented at trial by John Werner and Tom Kiehnhoff with the law firm of Reaud, Morgan & Quinn, LLP in Beaumont, Texas. Persons seeking publicly-available information about the trial can contact Reaud, Morgan & Quinn, LLP at 409-838-1000.
About Starco Impex, Inc. d/b/a Wholesale Outlet
Starco Impex, Inc., d/b/a Wholesale Outlet has been in business for over 20 years and has been a successful master distributor for several products that have become household names such as Kickback and Relax, Royal Smoke electronic cigarettes, Millennium Filtered Cigars and Enzyte male enhancement. Starco Impex not only prides itself on its vast array of general merchandise commonly found in convenience stores throughout the nation, but it also stays true on its promise to successfully launch new and innovative products within the convenience store industry.
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