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Business Associations Keyed to Bainbridge
Broz v. Cellular Information Systems, Inc.
Citation:673 A.2d 148 (1996)
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
RFB Cellular owns and operates an Federal Communications Commission license area, known as the Michigan-4 Rural Service Area Cellular License. The license entitles RFBC to provide cellular telephone service to a portion of rural Michigan. In April 1994, Marckinac Cellular Corp. sought to divest itself of Michigan-2. Mackinac contacted Daniels & Associates. Michigan-2 was not, however, offered to CIS. Apparently, Daniels did not consider CIS to be a viable purchaser. Following a meeting of the CIS board, Broz spoke with CIS’ Chief Executive Officer, Richard Treibick, concerning his interest in acquiring Michigan-2. Treibick communicated to Broz that CIS was not interested in Michigan-2. On June 1994, six CIS directors entered into agreements with PriCellular to sell their shares in CIS at a price of $2 per share. On August 1994, Broz submitted offers to Mackinac for the purchase of Michigan-2. In September 1994, PriCellular reached agreement with Mackinac on an option to purchase Michigan-2. ON November 14, 1994, Broz agreed to pay Mackinac for the Michigan-2 license. An asset purchase agreement was thereafter executed by Mackinac and RFBC. Nine days later, PriCellular closed its offer for CIS.
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