Techmedia, Owner Ordered to Pay Damages

Techmedia Computer Systems and its owner, Andrew Park, have been ordered to pay nearly $100 million to its former supplier and a bank. The jury award this week culminated a six-week civil trial in Orange County Superior Court. The case stemmed from a contract dispute that began two years ago between Garden Grove-based Techmedia, a computer and electronics distributor, and South Korea-based Tae Il Media Co., which had supplied the majority of Techmedia’s inventory since 1994. As part of the judgment against Techmedia, Judge Theodore Millard placed a $7-million lien against Park’s Laguna Niguel home and a $15-million lien against the company’s headquarters. The jury found that Techmedia and Park owed $122 million for breaching a distribution agreement and not paying for products supplied by Tae Il. The company was also ordered to pay $27 million in damages and interest to Cho Hung Bank, a South Korean bank that acted as a financier between the two companies.