KANSAS CITY, MO - February 19, 2010 - MidCap's business valuation services group helped three former senior executives of a nationally recognized casual dining restaurant chain headquartered in Kansas City win a sweeping victory in their litigation against the buyer that acquired their company.   The dispute centered around the amount of money MidCap's clients were entitled to receive as part of a change-in-control agreement that was in place when the buyer acquired the casual dining operator. 

MidCap Advisors was asked to render a detailed opinion regarding the value of non-compete covenants involved in light of IRC280G issues.  After a 3-day hearing and expert witness testimony on both sides, the Arbitrator ruled in favor of MidCap's clients who recovered verdicts of 100% of each claim presented.

According to John Phillips, Esq. of Wild, Carter & Tipton, attorney for MidCap's clients, "We could not be happier with the outcome of this case.  We brought MidCap in late in the game and the IRC280G issues in this case were only familiar to very few professionals in the country. MidCap made itself available on short notice, at a very fair professional rate, and did a thorough job of understanding and preparing for the issues in the case."  Mr. Phillips added, "I note in the final award, the opinions you expressed as to valuation of the Non-Compete covenants set forth in Claimants Golden Parachute Agreements were relied on by the Arbitrator to the exclusion of the opposing expert- that is rare indeed!"

MidCap's Chicago and Kansas City offices worked closely together to provide the client with the service and resources needed to handle this engagement.

For more information about this specific project, contact Jim Ward at (816) 448-3737.  For more information about MidCap Advisors' Business Valuation and Litigation Support Services, please contact Richard Jackim at 224-513-5142.