On May 8, 2013, the Ashish Mahendru and the Mahendru, PC team helped his client obtain a jury verdict in its favor for $1.17 million plus attorney’s fees of $95,000.
The client purchased RINs, Renewable Identification Numbers, which are renewable fuel credits that are traded on the open market. The RINs were originally purchased from, Green Diesel, LLC, fraudulently generated the RINs. After it was determined the RINs were invalid, another company related to Green Diesel, Fuel Streamers, agreed to cover the invalid RINs. Despite months of delay in stringing the client along, Fuel Streamers failed to perform on its promise that it would cover the invalid RINs.
The client, being pressured by its customers to replace the invalid RINs, covered the RINs on the market and spent $1.17 million to purchase them.
Mahendru, PC was hired to bring claims against Green Diesel and Fuel Streamers for the breach of the original agreement, breach of the promise to cover the RINs by Fuel Streamers, and to establish that Fuel Streamers was the alter ego of Green Diesel.
In July 2012, the Environmental Protection Agency raided the offices of Green Diesel and Fuel Streamers, seizing all of their books, records, and assets. The President of these companies, Phil Rivkin, absconded to Europe.
In less than one hour, the jury came back with a verdict in the client’s favor, finding breach of the agreement, promissory estoppel, and finding that Fuel Streamers was the alter ego of Green Diesel.
This was a truly satisfying outcome for the client. The harm exacted upon them required a message to be sent that this kind of unethical business conduct will not be tolerated.