Mar-Lees wants court to confirm arbitration

American seafood company Mar-Lees Seafood has asked a state court to confirm the findings of an arbitration panel on one of 15 counts in an ongoing lawsuit between the company and its co-CEO, John Lees Jr.

Mar-Lees filed a petition in a civil court in Massachusetts asking to confirm the panel's findings that Lees breached his 2010 employment agreement with the company, but that no damages be awarded to Mar-Lees as a result.

The arbitration, conducted by a panel of three judges, is the latest in an ongoing saga between the parties that has included accusations of racketeering and gross mismanagement of the company’s finances. According to the panel’s remarks, poor management at Mar-Lees led to the company posting losses of nearly USD 5 million (EUR 3.9 million) in 2013. Prior to 2013, the company had at one time been a USD 70 million (EUR 55.1 million) company.

The breach of agreement is only the first in a 15-count civil lawsuit against Lees. The remaining counts include breach of fiduciary duty and disclosure of trade secrets.

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