Dean Marzetta v. Stanoy Tassev

CourtNew Jersey Superior Court Appellate Division
DecidedDecember 31, 2024
DocketA-0356-21
StatusUnpublished

This text of Dean Marzetta v. Stanoy Tassev (Dean Marzetta v. Stanoy Tassev) is published on Counsel Stack Legal Research, covering New Jersey Superior Court Appellate Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Dean Marzetta v. Stanoy Tassev, (N.J. Ct. App. 2024).

Opinion

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION This opinion shall not "constitute precedent or be binding upon any court ." Although it is posted on the internet, this opinion is binding only on the parties in the case and its use in other cases is limited. R. 1:36-3.

SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION DOCKET NO. A-0356-21

DEAN MARZETTA, KRISTINE FREISINGER, and BROADWAY CONTRACTING CO., ELECTRICAL CONTRACTORS, INC.,

Plaintiffs-Appellants,

v.

STANOY TASSEV, DAVID LEVINE, DESIREE WEAVER and OCEAN COAST ELECTRIC, LLC,

Defendants-Respondents. _________________________________

Argued October 25, 2023 – Decided December 31, 2024

Before Judges Vernoia, Gummer and Walcott- Henderson.

On appeal from the Superior Court of New Jersey, Chancery Division, Middlesex County, Docket No. C- 000104-16.

Robert J. Donaher argued the cause for appellants (A.Y. Strauss, attorneys; Robert J. Donaher, of counsel and on the briefs). Justin J. Walker argued the cause for respondent David Levine (Law Office of Mark Faro, LLC, attorneys; Justin J. Walker, of counsel and on the brief).

Stuart Reiser argued the cause for respondents Stanoy Tassev, Desiree Weaver and Ocean Coast Electric, LLC (Shapiro, Croland, Reiser, Apfel & Di Iorio, LLP, attorneys; Stuart Reiser and Alexander G. Benisatto, on the brief).

The opinion of the court was delivered by

VERNOIA, J.A.D.

In this commercial dispute arising over the sale of an electrical contracting

business that the parties agreed to submit to arbitration and was the subject of a

twenty-six-day hearing and a one-hundred-and-thirteen-page arbitration award,

plaintiffs Dean Marzetta, Kristine Freisinger, and Broadway Contracting

Company, Electrical Contractors, Inc. (Broadway) appeal from Chancery

Division orders granting the motion of defendants Stanoy Tassev, David Levine,

Desiree Weaver, and Ocean Coast Electric, LLC to confirm the arbitration award

and denying plaintiffs' cross-motion challenging the court's determination

plaintiffs were not entitled to suppression of defendants' defenses and entry of

default based on defendants' spoliation of evidence. Finding no merit to

plaintiffs' arguments challenging the court's orders, we affirm.

A-0356-21 2 I.

We begin by noting the arguments supporting plaintiffs' appeal focus on

their contention the court erred by rejecting their claim that the arbitrator

erroneously denied their motion to suppress defendants' defenses and enter

default against defendants as the sanction for the spoliation of electronically

stored information on a computer server plaintiffs contend included data—

primarily emails—relevant to their case. As part of the arbitration award that

included findings and determinations on a multitude of issues, the arbitrator

found defendants were responsible for spoliation of the server and recommended

a significant sanction—the dismissal of defendants' counterclaims—that the

Chancery Division later adopted.

On appeal, plaintiffs argue that the sanction the arbitrator and court

imposed for the spoliation of the server was insufficient and therefore erroneous.

Thus, for purposes of our analysis of plaintiffs' arguments on appeal, we limit

our summary of the facts to those pertinent to a disposition of plaintiffs' claim

the arbitrator and the court erred by imposing a spoliation sanction plaintiffs

contend is inadequate.

A-0356-21 3 The Sale and Subsequent Closure of Broadway

Broadway is a commercial and industrial electrical contractor that Levine

established in 1982. In 2012, Levine sold half of the capital stock in Broadway

to Tassev. An October 2015 valuation calculated Broadway's worth at

$4,835,000.

Marzetta and Freisinger entered into a December 28, 2015 Stock Purchase

Agreement (SPA) with Tassev and Levine. The agreement provided for

Marzetta's and Freisinger's purchase of all shares of Broadway capital stock for

$3,200,000. The SPA required that Marzetta and Freisinger pay $500,000 in

cash and provided they would finance part of the purchase price with a

$1,900,000 Small Business Administration loan from Flushing Bank secured by

a perfected first lien interest in all the company's assets. Marzetta and Freisinger

executed two separate $400,000 promissory notes in favor of Tassev and Levine

to finance the balance of the purchase price. The SPA provided that the

promissory notes were subordinate to the Small Business Administration loan

from Flushing Bank. Marzetta and Freisinger also entered into a separate ten-

year lease with Levine for the property in Jamesburg at which Broadway was

located.

A-0356-21 4 Under the SPA, Marzetta's or Freisinger's default on the lease or

promissory notes permitted Tassev and Levine to void certain restrictive

covenants that otherwise prevented them from revealing trade secrets, operating

a competing business within a 200-mile radius for five years after the sale, and

hiring Broadway employees or independent contractors for five years following

the closing date.

The SPA also granted to Tassev and Levine the right to receive from

plaintiffs certain pre-closing accounts receivable that were due Broadway.

Section 1.7(ii) of the SPA provided that the pre-closing accounts receivable

remained Tassev's and Levine's property and required that any pre-closing

accounts receivable paid to plaintiffs following the closing would be deposited

into Broadway's operating account, and then first applied to any pre-closing

receivables with the balance to be paid to Tassev and Levine.

The SPA further provided that Tassev and Levine "retain[ed] access to

and signing authority on all [of Broadway's] operating accounts until such time

as all [p]re-[c]losing [r]eceivables are received and [p]re-[c]losing [p]ayables

are paid, and any sums due to Sellers are paid (the "Clearance Date")." The SPA

cautioned that if Tassev and Levine "are denied access to such account or

accounts prior to the Clearance Date, such denial shall constitute an event of

A-0356-21 5 default under the [p]romissory [n]otes." The SPA also included a provision

describing the manner in which pre-closing accounts receivable would be

calculated.

The closing of the stock sale to Marzetta and Freisinger took place on

January 27, 2016. At closing, Tassev provided a pre-closing accounts receivable

list that totaled $1,580,000.

Within weeks of the closing, Broadway experienced cash-flow problems

that caused Marzetta to terminate employees and take other cost cutting

measures. He claimed the business was "taking on water" and asked Tassev and

Levine if they would forgive the two $400,000 promissory notes provided at the

closing. Tassev and Levine denied the request, and Marzetta and Freisinger

defaulted on the promissory notes.

Following the closing, Marzetta retained in Broadway's employ Desiree

Weaver, Jeremy Wikoff, and Micheal Liscio, who had worked for Broadway

prior to the sale. Wikoff and Liscio were employed as project managers, and

Weaver served as Broadway's office manager and bookkeeper.

As noted, under the SPA, following the closing Tassev had ongoing access

to, and signing authority, on Broadway's operating account and access to

Broadway's accounts computer system.

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