Apex Energy Group, L.L.C. v. Cohen & Co., Ltd.

Ohio Court of Appeals·Decided September 17, 2026·No. 115629·Published

Opinion

COURT OF APPEALS OF OHIO

EIGHTH APPELLATE DISTRICT COUNTY OF CUYAHOGA

APEX ENERGY GROUP, LLC, :

Plaintiff-Appellee, :

No. 115629

v. :

COHEN & COMPANY, LTD., ET AL., :

Defendants-Appellants. :

JOURNAL ENTRY AND OPINION

JUDGMENT: AFFIRMED

RELEASED AND JOURNALIZED: September 17, 2026

Civil Appeal from the Cuyahoga County Court of Common Pleas Case No. CV-22-964607

Appearances:

Santen & Hughes, Nicholas E. Shaffer, and Charles E.

Reynolds, for appellee.

Benesch, Friedlander, Coplan & Aronoff LLP, Michael D.

Meuti, David M. Hopkins , and Michael B. Silverstein, for appellants, Great Day Improvements, LLC.

MARY J. BOYLE, J.:

Defendant-appellant Great Day Improvements, LLC (“Great Day”)

appeals the trial court’s judgment confirming the arbitration award in favor of plaintiff-appellee Apex Energy Group, LLC (“Apex”). Great Day raises the following assignments of error for review:

Assignment of Error I: The trial court erred in confirming the arbitration award rendered in [Apex’s] favor [ ] concerning a dispute over amounts due and owing under an Asset Purchase Agreement (the “APA”) between [Great Day] and [Apex].

Assignment of Error II: The trial court erred in denying [Great Day’s] motion to vacate or, in the alternative, to modify the award to remedy significant and basic mathematical and accounting errors.

For the reasons set forth below, we affirm.

I. Facts and Procedural History This appeal arises from the trial court’s confirmation of the arbitrator’s award resolving a post-closing accounting dispute between Great Day and Apex. Apex, which was a replacement window sales company, sold substantially all of its assets to Great Day in November 2020. According to the parties’ APA, Apex was entitled to post-closing payments based on the Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) of the purchased assets in 2021. Under the APA, Great Day was required to provide Apex with its calculation (the “2021 Earnout Statement”) of EBITDA with “reasonable supporting detail” and provide Apex with reasonable access to its “books and records relevant to the 2021 Earnout Statement and the calculations set forth therein.” (APA Section 3.4(a).)

If the parties disagreed on the calculations, they agreed “to refer such disputes to Cohen & Company or if Cohen & Company [(‘Cohen’)] declines to act as such a nationally recognized independent accounting firm (such firm, which shall be reasonably acceptable to both the [Apex’s] Representative and [Great Day], being referred to herein as the ‘Designated Accounting Firm’)[.]” (APA Section 3.3(b)(iii).) Furthermore, the “Designated Accounting Firm’s determination will be based solely on such written submissions and not on the basis of independent review”; “the Designated Accounting Firm will determine only those issues set forth in the Dispute Notice that remain unresolved”; and “the calculations determined by the Designated Accounting Firm shall be final and binding on [Great Day] and [Apex’s] Representative for all purposes of this Agreement, absent manifest calculation error.” (APA Section 3.3(b)(iii).) These dispute resolution procedures are “the sole and exclusive method for resolving any such disputes.” (APA Section 3.3(d).)

According to Apex, on numerous occasions it requested general and specific financial and operational information from Great Day, who refused to provide meaningful responses to Apex’s requests. Apex believed it was impossible for Cohen to act as a neutral arbitrator in this matter and asked that Cohen recuse itself from that role because Great Day’s chief financial officer, who was responsible for the calculation challenged, was a former employee of Cohen who was hired by Great Day after it purchased assets from Apex.

Ultimately, Apex filed suit against Cohen and Great Day in June 2022, alleging four causes of action. Apex sought a declaratory judgment that Great Day breached the APA by failing to provide Apex with access to its books and records relevant to the 2021 Earnout Statement and the calculations (Counts I and II) and that Cohen is not qualified to act as the arbitrator in this case (Count IV). Apex also sought attorney fees (Count III) on the basis that trial courts have the “authority to award attorneys’ fees in contract cases involving bad faith on the part of one of the parties to a contract.” (Apex Complaint, June 10, 2022.) In July 2022, Apex voluntarily dismissed its complaint against Cohen without prejudice.

In August 2022, Great Day filed its answer and a motion to compel arbitration and to stay the proceedings pending arbitration. Great Day argued that under the APA, if the parties disagreed about the calculations, the sole and exclusive remedy was “to refer such disputes to . . . a nationally recognized independent accounting firm.” (APA, Section 3.3(b)(iii).) Great Day contended that the parties “are currently in the process of securing an accounting firm to resolve this dispute.” (Motion to Compel, p. 2.) Apex opposed, arguing that “the arbitration provision at issue is by its terms limited to ‘calculations’ and does not compel arbitration of other issues raised in [its] Complaint.” (Apex’s Brief in Opposition, p. 7.)

In November 2022, Apex sought to amend its complaint. The court granted Apex leave, and Apex filed its amended complaint on November 28, 2022. The court also granted Great Day’s motion to compel arbitration and ordered the parties to file a notice indicating whether they have agreed on an arbitrator. On December 22, 2022, Apex filed a joint notice that the parties have agreed on an arbitrator, later identified as Crowe LLP (“Crowe”), to resolve the dispute.

In its amended complaint, Apex sought a declaratory judgment that Great Day breached the APA by failing to provide Apex with access to its books and records relevant to the 2021 Earnout Statement and the calculations and that Cohen is not qualified to act as the arbitrator in this case. Apex also sought attorney fees and brought additional causes of action against Great Day for fraud and fraudulent misrepresentation, alleging that Great Day falsely represented with the intent to mislead Apex that it could not allow Apex access to its books and records without accessing the books and records of its other businesses.

In response, Great Day sought to dismiss the amended complaint asking the trial court to (1) dismiss as moot all of Apex’s claims based on Great Day’s alleged failure to make a sales earnout payment for the third and fourth quarters of 2022; (2) strike or dismiss all allegations and claims in the amended complaint regarding fraud and fraudulent misrepresentation; (3) strike Apex’s motion for leave to file its amended complaint in its entirety, including an award for Great Day’s reasonable attorneys’ fees in bringing this motion; and (4) to dismiss again the claims against Cohen. Apex opposed Great Day’s motion.

The court granted Great Day’s motion, finding that “the amendments to the pleading other than the missed payment matter was authorized in open court are stricken as they exceed the permission granted by the court. The motion granting leave to amend in additional ways was improperly granted by the court.” (Journal Entry, Jan. 27, 2023.) The trial court further found that Apex could renew its motion to amend, as to fraud, and Great Day could respond so the court could properly consider this issue.

A review of the docket reveals that Apex did not renew its motion and the matter was then stayed in May 2023, pending arbitration until January 10, 2025, when Apex filed a motion to vacate the stay and reopen the case and to confirm the arbitrator’s award. Apex noted that arbitration has concluded and the arbitrator issued his final determination (arbitration award) in which the arbitrator determined that Apex owes Great Day $794,299 for the Final Net Working Capital and Customer Deposits Adjustment and Great Day owes Apex $2,313,912 for the Earnout under Section 3.4 of the APA.

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Apex Energy Group, L.L.C. v. Cohen & Co., Ltd., (Ohio Ct. App. 2026).

Apex Energy Group, L.L.C. v. Cohen & Co., Ltd. (Apex Energy Group, L.L.C. v. Cohen & Co., Ltd.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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