Cook County Record

Saturday, January 18, 2020

Standard Parking Corp. hit with breach of contract suit over termination fee

By Annie Cosby | Oct 6, 2014


A man is suing over claims a parking garage company breached its contract when it failed to pay a $120,000 contract termination fee.

Nico Tywan filed a lawsuit Sept. 24 in Cook County Circuit Court against SP Plus Corp., formerly known as Standard Parking Corp., alleging breach of contract.

According to the complaint, Tywan formed Downtown Parking with three associates in 2005, and sold the company in 2007 to the defendant company, which contracted him for services in order to utilize his extensive experience in the industry via a six-year contract.

Tywan claims SP Plus terminated the contract on Sept. 30, 2013, with both parties agreeing to a new contract but the company has failed to pay the $120,000 termination fee outlined in the contract.

Tywan alleges that a restrictive period outlined in the contract in the event of a termination will prevent him from soliciting business elsewhere in the industry until the matter is unsettled, causing him severe damages.

He is seeking the termination fee or a judgment that the restrictive period is expired. He is represented by Douglas E. Feldman of The Law Office of Douglas E. Feldman in Chicago.

Cook County Circuit Court case number: 14CH15472.

This is a report on a civil lawsuit filed in Cook County Circuit Court. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt and it only represents one side of the story.

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