Examples of SP Holdings in a sentence
SP Holdings asserts direct and derivative claims for breach of fiduciary duty through self-dealing, interference with prospective economic advantage, civil theft, civil conspiracy, and aiding and abetting breach of fiduciary duty against the various Defendants, as alleged more specifically below.
In late 2009, Lembke, Shipman, Spillane, and other entities they control claimed that they had been making loans to SP Lochbuie since the outset of the project, and accruing interest on those loans that would sit in front of the preferred interest of SP Holdings.
In exchange, SP Holdings received a preferred distribution right of $8,257,525.00, and a 40% distribution right in the profits of SP Lochbuie after payment of its preferred distribution.
In exercising such practical and effective control, Lembke was a fiduciary of SP Holdings during the above-mentioned time period.
Defendants BDWP, Bromley, and SP Equities are vicariously liable as principals of Lembke, Shipman, and Spillane, their agents, as applicable, and are liable jointly and severally for the damages suffered by SP Lochbuie and SP Holdings as a proximate result of such misconduct that occurred during the duration of the civil conspiracy, and thereafter, pursuant to inter alia the common law of Colorado and C.R.S. § 13-21-111.5(4).
The owner also noted that the ownership of the project is fully held by Abengoa SP Holdings, LLC.
Lochbuie Land, which was described to SP Holdings as a common tax-driven vehicle, in fact directly benefitted from the Water Certificates and Commercial Federal loan, which remains as a debt on SP Lochbuie's balance sheet.
In May 2012, upon analyzing the information received in that discovery, SP Holdings sent a demand, attached as Exhibit 1, requesting, inter alia, that Lembke as manager provide a proper accounting of the actions taken and debts incurred by SP Lochbuie, and take action against those entities that have improperly benefited at SP Lochbuie's expense.
The civil conspiracy alleged herein has proximately caused damage and loss to SP Lochbuie and SP Holdings, the amount of which will be proved at trial.
SP Holdings further alleges that any further demand would be and is futile because SP Lochbuie's manager, Lembke, and its only other member, SP Equities, participated in, approved of, and/or were the beneficiaries of the wrongful acts alleged herein, and are named as Defendants herein.