On November 10, 2016, the parties put the "broad outline" of the terms of their settlement agreement on the record. The terms included the payment of a sum certain by defendants in exchange for plaintiff's interest in defendant Bruce Supply Corp. and five other defendant entities, and would be structured with a lump sum down payment and 15 annual installment payments. When the motion court asked whether the parties intended to be bound by the settlement, counsel for both...
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