Legal Question in Civil Litigation in Michigan
Settlement Enforcement Options
I accepted a settlement offer from the plaintiff(landord), moved my business and the equipment to our arranged next location. The settlement was put on the record and included a cash payment which was to be held in plaintiff's atty escrow until and paid upon vacation of the premises. It was not paid.
The business was producing good cash flow when we moved and we have lost several opportunities to relocate over the last 15 months. We need the settlement money to develop another space for the business.
I made a motion to have the funds ordered released from escrow, but now its clear they are not there. I don't think the plaintiff's atty ever had the money in his escrow account; he says he returned it to the plaintiff.
Does the plaintiff's atty have any legal responsibility for keeping the money in his escrow account (he states he --name removed-- on the record)? Is a court order necessecary to return the escrow (case is still open)?
Is there potential that the plaitiff is exposed to additional liability in our loss of opportunities?
Can penalties or interest be assessed by the judge against the plaintiff for breaking the agreement?
1 Answer from Attorneys
Re: Settlement Enforcement Options
This is a very complicated question and unfortunately the sketchy details do not permit an informative answer. In general, the terms of a litigation settlement put on the record are enforceable. In general, if an attorney is required to hold funds in escrow, the terms of that escrow determine his/her obligations.
You MAY have remedies against the plaintiff and the attorney too, so please consult counsel immediately because it sounds as if you've done the legal work yourself. If this is a Southern Michigan case, you can contact this office by phone at 734-434-1049 if you like.
Regina Brice
Brice Law Offices
2232 S. Main Street #364
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