Dempsey filed suit in King County Superior Court Tuesday alleging his business partner, Michael Avenatti, took out a $2 million loan against their new company, Global Baristas, without telling the actor.
Dempsey and Avenatti bought the bankrupt Seattle-based Tully’s Coffee chain earlier this year. According to the Puget Sound Business Journal, Dempsey said in the lawsuit that Avenatti borrowed the money to provide working capital for Global Baristas, the business set up to run Tully’s under the new ownership. The loan used Global Baristas’ assets as collateral, he said, according to the website.
Earlier Friday, a press release issued by Global Baristas said Dempsey and Avenatti had reached a tentative settlement to resolve their differences and dismiss the suit. Hours later, a new press release said Dempsey “fully resolved” their dispute — by dissolving their business partnership and Dempsey leaving.
Click here to read the full story at KCPQ in Seattle.