By: Derek Hawkins//December 6, 2017//
7th Circuit Court of Appeals
Case Name: Betco Corporation, LTD., v. Malcolm D. Peacock, et al.
Case No.: 17-1133
Officials: MANION, KANNE, and HAMILTON, Circuit Judges
Focus: Court Error – Time Barred Claim
Betco Corporation purchased the as‐ sets of two bioaugmentation companies from Marilyn and Malcolm Peacock. The Asset Purchase Agreement included the sale of equipment at the Peacocks’ Beloit, Wisconsin plant. Betco asked Malcolm to remain at the Beloit plant after the sale as president. Eventually, Betco discovered that the Beloit plant was delivering defective products to customers. It filed this suit against the Peacocks and their holding companies for fraud, negligent misrepresentation, breach of contract, and breach of the duty of good faith and fair dealing.
Betco raises two issues on appeal. First, Betco appeals the district court’s summary judgment dismissal of its breach of contract claim. It argues that the court erred in finding that the claim was time‐barred. Second, Betco appeals the district court’s judgment on the duty of good faith claim. It argues that the court erred in finding that Malcolm had not violated this duty and that Betco failed to prove damages even if he had violated it. After two rounds of summary judgment and a bench trial, the district court dismissed the entirety of Betco’s suit. Betco appeals the dismissal of its breach of contract and breach of the duty of good faith and fair dealing claims. We affirm.
Affirmed