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Date: 2013-08-26 15:16:34 By: Cinthya Lara Via: Associated Press

Patrick Dempsey out of his intent of buying Tully's Coffee

Patrick Dempsey has dissolved his partnership to buy Tully's Coffee out of bankruptcy. Read for details.

Patrick Dempsey out of his intent of buying Tully's Coffee

Patrick Dempsey out of his intent of buying Tully's Coffee

Actor Patrick Dempsey and his business partner in the venture that acquired Tully's Coffee out of bankruptcy have dissolved their partnership.

In a joint statement late Friday, the "Grey's Anatomy" star and California lawyer Michael Avenatti said their legal dispute has been "fully resolved to the satisfaction of all concerned."

Dubbed "McDreamy" on the TV hospital drama, Dempsey was the public face of the successful bid. He said Friday he was "happy to have been a part of the effort that brought awareness to the Tully's brand."

Court documents filed Aug. 20 in Dempsey's King County Superior Court lawsuit against Avenatti said the lawyer initially was the sole owner of Global Baristas LLC. The documents say Dempsey joined Global Baristas a short time later. The ownership group prevailed against other bidders including Starbucks in an auction last January that included more than 40 Puget Sound-area Tully's stores.

In the court papers, Dempsey said his decision to participate in Global Baristas was based, in part, on his understanding that Avenatti was committing sufficient cash to both fund the acquisition and provide working capital to operate the stores. The deal finally closed June 30.

 

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Patrick Dempsey out of his intent of buying Tully's Coffee