On November 29, 2018, Justice Scarpulla of the New York County Commercial Division issued a decision in Lam Platt St. Hotel LLC v. Golden Pearl Constr. LLC, 2018 NY Slip Op. 33018(U), enforcing a contract provision limiting damages, explaining: The Contract contains a mutual waiver provision, in Rider 8.0A, which clearly limits the damages Lam Platt… Read more »
Blogs
Posts Categorized: Damages
Award of Lost Profits Upheld
On November 9, 2018, the Fourth Department issued a decision in Henderson Harbor Mariners’ Mar., Inc. v. Upstate Natl. Bank, 2018 NY Slip Op. 07555,, upholding an award of lost profits, explaining: We reject defendant’s contention that the trial court erred in denying its motion to set aside the verdict and for judgment in its favor… Read more »
Breach of Contract Claim Properly Dismissed for Lack of Evidence of Damages
On September 27, 2018, the First Department issued a decision in FranPearl Equities Corp. v. 24 W. 23rd St., LLC, 2018 NY Slip Op. 06326, holding that a breach of contract claim was properly dismissed for lack of evidence of damages, explaining: It is undisputed that, following the sale of a parcel of land by… Read more »
Insureds Plead Claim for Consequential Damages Based on Insurer’s Failure to Pay Property Damage Claim
On August 22, 2018, the Second Department issued a decision in Tiffany Tower Condominium, LLC v. Insurance Co. of the Greater N.Y., 2018 NY Slip Op 05886, holding that insureds stated a cause of action against a property insurer for breach of the covenant of good faith and fair dealing based on the failure to… Read more »
Breach of Fiduciary Duty Claim Dismissed on Summary Judgment for Lack of Damages
On July 10, 2018, Justice Schecter of the New York County Commercial Division issued a decision in Board of Directors of Windsor Owners Corp. v. Platt, 2018 NY Slip Op 31600(U), dismissing a breach of fiduciary duty claim on summary judgment for lack of damages, explaining: Damages is an essential element of breach of fiduciary… Read more »
Rejecting Official Exchange Rate, Court Finds That There is a Question of Fact Regarding Proper Exchange Rate Between Venezuelan Bolivars and US Dollars
On May 29, 2018, Justice Crane of the New York County Supreme Court issued a decision in Diaz v. Galopy Corporation International, N.V., Index No. 656721/2016, granting summary judgment in lieu of complaint recognizing a money judgment issued by a Venezuelan court, but finding that there was a question of fact regarding the exchange rate… Read more »
Damages Award Thrown Out Because of Failure to Provide Competent, Non-Hearsay Evidence of Damages
On February 8, 2018, the First Department issued a decision in 345 E. 69th St. Owners Corp. v, Platinum First Cleaners, Inc., 2018 NY Slip Op. 00892, vacating a damages award because it was not based on competent, non-hearsay evidence, explaining: The trial court awarded damages consisting of $196,811.88 representing lost rent over the remainder… Read more »
Claims Barred Above Amount Set by Limitation of Liability Provision
On January 23, 2018, the First Department issued a decision in Electron Trading, LLC v. Morgan Stanley & Co. LLC, 2018 NY Slip Op. 00380, holding that certain claims were barred by a limitation of liability provision, explaining: The limitation of liability provision in the ELA provides, in pertinent part, that “neither party’s total liability… Read more »
Plaintiff Cannot Get Attorneys’ Fees Under CPLR 3220 Unless Action Goes to Trial
On August 30, 2017, the Second Department issued a decision in Saul v. Cahan, 2017 NY Slip Op. 06391, holding that a party cannot get attorneys’ fees pursuant to an offer to liquidate damages under CPLR 3220 unless the action goes to trial. This decision creates a split between the First and Second Departments on… Read more »
Lost Profits Found to be Recoverable as General, Not Consequential, Damages
On August 3, 2017, Justice Kornreich of the New York County Commercial Division issued a decision in AGE Group, Ltd. v. Martha Stewart Living Omnimedia, Inc., 2017 NY Slip Op 31639(U), holding that lost profits were recoverable as general rather than consequential damages, explaining: MSLO also wrongly contends that this case may be dismissed if… Read more »