Failla v. Integrated Practive Solutions CA4/1
As the issue in this appeal concerns a challenge by Failla to the trial court’s good faith determination regarding the settlement between Waymire and IPS, we begin by focusing on those three parties, along with IPS’s president and Chief Operating Officer, Robert Moberg.
1. Failla
Failla was the Chief Executive Officer of Clean Conversion Technologies, Inc. (“CCT”) from June 2010 until its dissolution in 2019. As Failla explains, “CCT was a clean energy company that sought to develop and sell industrial technology and machinery capable of extracting recyclable materials from landfill waste, thereby reducing the amount of waste disposed of in landfills.” In addition, according to Failla, he owned 47 percent of IPS.
2. Waymire
In 2012, Waymire invested $250,000 in CCT. When CCT dissolved, Waymire lost the $250,000 that he invested.
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