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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

IN CONTRACT - Loss of profits - Consequent to breach - Leases

Thursday, July 19, 2018 @ 5:41 AM  

Appeal by the defendants from trial judgment awarding the respondent damages of $1,277,000 for repudiation of a commercial lease. The only issue at trial was the assessment of damages. After the repudiation, the respondent sold the property for $3,450,000 but incurred a $103,458 mortgage break fee for the early termination of the mortgage. The trial judge found that the property was not sold at fair market value and awarded damages for loss of rental profits as well as loss of capital appreciation on the property. The...