John Brice quietly left his position as president of CarVal Investors, a money management unit of Cargill Inc., in June.
On Monday, he sued Hopkins-based CarVal in a Delaware state court.
CarVal spokeswoman Ann Folkman declined to comment on the reason for his departure or on the lawsuit. She did confirm he had spent 20 years at the company and served as president for the last eight.
All of the documents in the court case — John Brice vs. Carval Investors, LLC, et al. — are sealed. His lawyers, listed on the filings, did not return phone calls Wednesday. According to their websites, both law firms, one based in Delaware and the other in New York, specialize in business litigation, with a focus on non-compete covenants, employment discrimination, trade secrets and compensation disputes.
CarVal, while one of Cargill's lesser-known businesses, manages $10 billion in assets with a specialization in real estate and distressed debt. Cargill recently divested its Black River Asset Managment unit, which was responsible for $7 billion in assets.
Kristen Leigh Painter • 612-673-4767
