Monday, December 7, 2015

Jack’s Links litigation continues

The family of the founder of Jack’s Links Snacks has been fighting over the company’s money for decades which is the background to the most recent ruling by a judge in Chippewa County, Wisconsin, that gives the founder a big break.

The judge ruled that Jay Link, founder and former chief executive officer of Link Snacks Global, and the Global company are responsible for less than three percent of the total amount that his father and brother and their company, Jack Links Snacks, said they were owed.

Jack Link, Jay’s father, and his brother Troy contend that Jay and the Global company owe $51 million to Jack Link Snacks.

The judge set the figure at $1.5 million, saying, “[Jack Link] Snacks was deliberately transferring bad, uncollectable debts to Global. … Having Global responsible to Snacks for the debt … worked to the advantage of Snacks and the disadvantage of Global.”