Heir to Brennan's restaurants claims payments for buyout are not being made in a timely manner
NEW ORLEANS – A New Orleans man who inherited part of a popular restaurant chain is suing over late payments received through a buyout settlement.
Owen E. "Pip" Brennan, Jr. filed suit against Brennan's Inc. in the Orleans Parish Civil District Court on Sept. 28. Brennan claims that due to a previous settlement of a lawsuit between himself and Brennans' Inc. and other members of the Brennan's family, he is owed a payment of $27,000 per month for his $3,833,000 share of the business.
The plaintiff claims that payments he receives are rarely on time, often comes only after a demand letter and checks made out in the amount are often not able to be cashed due to insufficient funds in the account from which they are written. Brennan asserts that he fears that Brennan's Inc. will squander the settlement which he is owed before it is paid in full.
The defendant is accused of breaching the settlement agreement.
The plaintiff is seeking damages in the form of accelerated payments for the settlement funds.
Brennan is represented by attorney Jean-Paul Layrisson of New Orleans-based Scandurro & Layrisson, LLC.
The case has been assigned to Division H Judge Michael G. Bagneris.
Case no. 2012-09217.