Thomas v. B & I LENDING, LLC

Adams, Judge.

Michael R. Thomas, the founder and chief executive officer of a small company, became involved in a dispute with the company and its majority owner about his management of the company. To buy time to solve their differences and possibly to sell the company, the parties entered into a “Standstill Agreement,” which provided that no party would initiate litigation through a certain date and that, should litigation become necessary, the company had the right to file suit first, in Delaware. After the standstill date passed, Thomas filed suit first, in Georgia, without notice to the…