Here is what we cover in this issue of The Employment Law Reporter:
•A New York trial court has ruled that the purchaser of a medical practice could not enforce a noncompete provision contained in the purchase agreement after the purchaser breached the agreement by failing to make required payments...
Please see full Report below for more information.
1
Purchaser of Medical Practice May Not Enforce Noncompete Provision After
Breaching Purchase Agreement, New York Trial Court Decides
A New York trial court has ruled that the purchaser of a medical practice could not enforce
a noncompete provision contained in the purchase agreement after the purchaser breached the
agreement by failing to make required payments.
The Case
On December 28, 2012, the plaintiff in this case, Craniofacial Surgery PC (“Craniofacial
Surgery”), entered into a contract with George F. Hyman, M.D., and George F. Hyman M.D. PLLC
(together, “Hyman”) to purchase Brooklyn Eye Medical Associates LLC from Hyman for $650,000
(the “Purchase Agreement”). Toward that end, Craniofacial Surgery paid an initial amount of
$200,000.
Pursuant to the Purchase Agreement and accompanying promissory note, Craniofacial
Surgery was required to pay half the outstanding amount by December 31, 2013, and the other
half by December 31, 2014.
The remaining balance, however, was never paid and Hyman obtained a $450,000
judgment against Craniofacial Surgery in a trial court in Nassau County, New York.
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