Boston business lawsuit has ensnared an embattled lobster distributor that is alleged to owe some $3.5 million in two separate cases. Live Lobster, based in Chelsea, is also on the hook for a $400,000 investment in the form of a government-funded Community Development Block Program grant for a processing plant in Gouldsboro.
Boston business litigation attorneys know that the Maine lobster industry in general has been in trouble over the last five years. While there had been record catches and strong demand throughout the 1990s, peaking in 2003, in 2007, harvest dropped by nearly 25 percent. Bait and fuel costs increased, and that has led to problems for lobstermen and distributors.
This is at the heart of some of Live Lobster’s problems, although some of these issues could have been circumvented or at least mitigated with the help of an experienced Boston litigation attorney with experience in contract disputes.
The details of this case are somewhat complex, but here’s what we know about it from Live Lobster sued for more than $3.5 million, By Bill Trotter, Bangor Daily News