Dispute Over Interest Calculations Insufficient To Avoid Summary Judgment When Resolved By Reference To Contract

Posted: May 6, 2026 / Written by: Channing J. Turner, Ian Weiss, Thomas A. Kissane, Samuel L. Butt / Categories Account Stated, Breach of Contract, Damages

Dispute Over Interest Calculations Insufficient To Avoid Summary Judgment When Resolved By Reference To Contract

On March 24, 2026, Justice Andrew Borrok rejected defendant’s attempt to create a material issue of fact by reference to a dispute about the calculation of interest, where that subject was addressed in the parties’ contract. The case is Big Bus Tours Limited v. Twin America, LLC, Index No. 654028/2025.

Plaintiff had shown defendant’s breach of the contract’s material terms, partial payments, acceptance of account statements as submitted, and damages in the principal amount of $690,977. Slip op., p. 3. Justice Borrok granted summary judgment to plaintiff on both breach of contract and account stated, because:

Defendants merely argue that in this motion the Plaintiff seeks less than what the complaint calls for in the way of damages and provides for alternative interest calculations. These arguments simply do not create an issue of fact warranting further proceedings because the Agreement provides for when the late interest payment is to be calculated. Late interest is to be calculated at 10% per annum from the date in which it was overdue - i.e., for amounts due but unpaid following the 30th day of the end of each month of the Term.

Id., p. 4.

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