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A businessman has settled his suit over a $6.4 million judgment allegedly owed to him by his former partner in a medical marijuana company, dropping his claim that the partner concealed the money in an attempt to evade the court's order in an underlying breach of contract case.
Plaintiff David Joshua Bartch and defendants Mackie, Kimberly and Justin Barch dismissed the claims without prejudice in a stipulation filed Friday in the Colorado federal court.
Bartch filed the instant suit in September 2022, alleging that Barch — his ex-business partner — and Barch's wife and brother had been working together to "conceal and shield his assets against collection and to frustrate the civil justice system."
The suit claimed Barch and his wife started working to hide the money away by essentially giving Kimberly Barch ownership of half of Trellis Holdings, which held around 30% of the disputed business, Doctors Orders Maryland — now known as Culta.
Once they had done that, the husband and wife team moved the money into a pair of trusts, Bartch alleged. Due to financial maneuvering, Mackie Barch was rendered "unable to pay the judgment in Bartch I from his personal assets," the lawsuit said, referring to the $6.4 million award in the breach of contract case.
Read more at: https://www.law360.com/cannabis/articles/1715336/pot-entrepreneur-settles-claims-ex-partner-hid-6-4m-award?copied=1
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