Simprop Acquisition Co. v. L. Simpson Charitable Remainder Unitrust

ANDREWS, Presiding Judge.

In January 2007, shortly after the closing of the fourth transaction in a series of land purchases dating from 2002 and worth more than $40 million, the seller’s executor notified the buyer that she considered the 2002 agreements “null and void,” but offered to buy back the property already purchased. The buyer — Simprop Acquisition Company and its owner, Stanley Thomas (collectively, “Sim-prop”) — rejected these new terms and sued for specific performance of the remainder of the agreements. The sellers — The L. Simpson Charitable Remainder Unitrust, M. Louise Simpson…