American company brought 3 tons of coins to pay debt to partners (Photo: CBS News).
Welding company JMF Enterprises attempted to repay subcontractor Fired Up Fabrication $23,500 with more than 3 tons of coins, CBS News reported.
Attorney representing Fired Up Fabrication Danielle Beem criticized the move, saying that if her client accepted the money, it would be a waste of time to count it.
According to court records, JMF Enterprises hired Fired Up Fabrication as a subcontractor to perform welding work on an apartment building. Fired Up Fabrication then filed a civil lawsuit against JMF, claiming it had not been paid in full under the contract.
In July, the two sides went to mediation and JMF agreed to pay the partner $23,500 to resolve the dispute. The mediation agreement did not specify how the money would be paid.
However, six weeks ago, Fired Up Fabrication received a call from a driver who said he was parked near the company’s office and would be delivering a three-ton box full of coins. JMF’s attorney told Beem that the box contained $23,500 and would require a forklift to move.
Beem said her client could not accept the boxes of coins, as the elevator in the company building had a maximum load capacity of 1.3 tons.
In their court filing, JMF's attorney said the settlement agreement did not specify the form of payment and they had complied with the terms.
JMF stressed that it had no intention of harassing, wasting time or impeding the resolution of the conflict with the plaintiff. JMF asked the judge to require the plaintiff to accept the coins.
Judge Joseph Findley of Larimer County Court later ruled that the coins were legal tender but that the three tons of coins were not an appropriate form of payment.
Mr Findley said that JMF's payment of debt in coins was an act of "malice and bad faith".
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