People in Florida might be interested to learn that the state has filed a lawsuit against Planet Hollywood to recoup the money in incentives that the state gave to the company. The lawsuit was reportedly filed in November 2019 in the Leon Circuit Court.
According to the complaint, Planet Hollywood filed a request with Florida to receive monetary incentives in 2011 from the Quick Action Closing Fund. This program provided monetary incentives to businesses in exchange for creating jobs. Planet Hollywood reportedly asked for the money after its acquisition of the Buca di Beppo chain of restaurants. It told the state that it was considering relocating Buca di Beppo's headquarters to Orlando.
In exchange for the money, Planet Hollywood was supposed to create a specific number of high-income jobs. Florida alleges that the company was supposed to submit regular reports and to meet benchmarks for job creation. According to the lawsuit, Planet Hollywood failed to submit reports or to add the required number of jobs and has materially breached its contract. Florida is seeking to recover the $288,000 that the state gave to Planet Hollywood under the contract.
Contract disputes can arise between businesses. In some cases, it is possible to resolve disputes outside of the court or arbitration process. When the alleged breaches are major breaches, however, it may not be possible to resolve the dispute without filing lawsuits. Companies that are embroiled in contract disputes might want to consult with experienced business litigation attorneys to learn about potential solutions. An attorney might be able to resolve minor breaches of a contract through negotiations. If the breaches are major, they may file lawsuits to protect their clients' rights.Source: Orlando Sentinel, "Florida sues Planet Hollywood, claiming it failed to follow through on Orlando jobs," Dec. 2, 2019.