Legal Opinion
Acushnet Company v. Beam, Inc.
Massachusetts Appeals Court
Decided February 2, 2018No. AC 16-P-1611PublishedCited by 5 opinions
1Opinion of the CourtWolohojian, J.
*687 At issue is the interpretation, under New York law, of a provision in the stock purchase agreement pursuant to which Beam, Inc. (Beam), sold its subsidiary, Acushnet Company *688 (Acushnet). 2 More specifically, the parties disagree as to which of them is entitled to $16.62 million of value added tax (VAT) receivables carried on Acushnet's balance sheet at the time of the closing. Beam took the amount as a postclosing setoff for its own benefit; in response, Acushnet brought this suit. On cross motions for summary judgment, a judge of the Superior Court determined that the contract provision was…
2Cases cited18 opinions
- Greenfield v. Philles Records, Inc.New York Court of Appeals · 2002
- California Division of Labor Standards Enforcement v. Dillingham Construction, N. A.Supreme Court of the United States · 1997
- Vermont Teddy Bear Co. v. 538 Madison Realty Co.New York Court of Appeals · 2004
- Kass v. KassNew York Court of Appeals · 1998
- 67 Wall Street Co. v. Franklin National BankNew York Court of Appeals · 1975
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