Prejudgment Interest Calculated on Damages Caused by Breach Even if There Was a Later Mitigation of Damages
Commercial Case Notes / Damages

Prejudgment Interest Calculated on Damages Caused by Breach Even if There Was a Later Mitigation of Damages

On September 19, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Telefonica S.A. v. Millicom Intl. Cellular S.A., 2024 NY Slip Op. 33315(U), holding that prejudgment interest was calculated on the damages caused on the date of breach even if there was a later mitigation of damages . . . Continue reading Prejudgment Interest Calculated on Damages Caused by Breach Even if There Was a Later Mitigation of Damages

Plaintiff not Entitled to Lost Profit Damages Because the Parties Did Not Contemplate Them in Making Their Agreement
Commercial Case Notes / Damages

Plaintiff not Entitled to Lost Profit Damages Because the Parties Did Not Contemplate Them in Making Their Agreement

On April 25, 2024, the First Department issued a decision in BML Props. Ltd. v. China Constr. Am., Inc., 2024 NY Slip Op. 02252, holding that a plaintiff was not entitled to lost profits damages because the parties did not contemplate them in making their agreement . . . Continue reading Plaintiff not Entitled to Lost Profit Damages Because the Parties Did Not Contemplate Them in Making Their Agreement

Plaintiff Not Entitled to Consequential Damages Because Such Damages Were not Contemplated by the Parties When the Contract was Made
Commercial Case Notes / Contracts / Damages

Plaintiff Not Entitled to Consequential Damages Because Such Damages Were not Contemplated by the Parties When the Contract was Made

On March 7, 2024, the First Department issued a decision in Citigroup Global Mkts. Inc. v. SCIP Capital Mgt., LLC, 2024 NY Slip Op. 01249, holding that the plaintiff was not entitled to consequential damages because such damages were not contemplated by the parties when the contract was made . . . Continue reading Plaintiff Not Entitled to Consequential Damages Because Such Damages Were not Contemplated by the Parties When the Contract was Made