Livewell Fitness claims buyer failed to complete deal
An Illinois corporation says a man violated his agreement to buy its business after he became involved in a competing company.
Livewell Fitness Centers filed a lawsuit Dec. 21 in St. Clair County Circuit Court against Zachary D. Frere.
Livewell claims Frere agreed to buy its assets on June 10 and signed a letter of intent in which he agreed to pay $360,000 for them. In August, Frere also signed a No-Compete and Restrictive Covenant Agreement in which he promised not to compete with Livewell by becoming involved in a business within 15 miles of Livewell, according to the complaint.
After signing the agreements, Frere took over Livewell's business and began representing himself as the company's new owner, the complaint says.
However, since then, Frere became engaged in a competing business and now refuses to buy Livewell's assets as agreed upon, the suit states.
"Plaintiff's reliance upon the promises, terms and agreements made by the Defendant in the Letter agreement and the actions of the Defendant was actual, and was detrimental to the interest of Plaintiff," the complaint says.
In the three-count suit, Livewell seeks the money it says Frere owes it, plus a judgment of more than $50,000, interest, attorney's fees, costs and other relief the court deems just. In addition, it asked the court to issue an injunction preventing Frere from participating in a business that violates the non-compete clause.
Stanley M. Brandmeyer of Brandmeyer Law Office in New Baden will be representing it.
St. Clair County Circuit Court case number: 09-L-678.