On November 30, 2021, Justice Borrok of the New York County Commercial Division issued a decision in W Mgt. Servs. LTD v. Fanning, 2021 NY Slip Op. 32519(U), holding that a liquidated damages provision was an unenforceable penalty . . . Continue reading Liquidated Damages Provision Held to be an Unenforceable Penalty
On November 30, 2021, the First Department issued a decision in Reif v. Nagy, 2021 NY Slip Op. 06659, holding that a judgment on a claim for replevin can include pre-judgment interest . . . Continue reading Judgment on Claim for Replevin Can Include Pre-Judgment Interest
On November 9, 2021, the First Department issued a decision in Lam Platt St. Hotel LLC v. Golden Pearl Constr. LLC, 2021 NY Slip Op. 06086, enforcing a contract provision barring the award of consequential damages . . . Continue reading Court Enforces Contract Provision Barring Consequential Damages
On September 28, 2021, the First Department issued a decision in ALQ, LLC v. Kane, 2021 NY Slip Op. 05071, holding that questions of fact regarding whether the liquidated damages clause was grossly disproportionate to the plaintiff’s actual damages precluded an award of summary judgment enforcing the clause . . . Continue reading Question of Fact Preclude Award of Summary Judgment Enforcing Liquidated Damages Clause
On July 8, 2021, the First Department issued a decision in Park Union Condominium v. 910 Union St., LLC, 2021 NY Slip Op. 04278, holding that a plaintiff was entitled to prejudgment interest on funds held in escrow . . . Continue reading Plaintiff Entitled to Prejudgment Interest on Funds Held in Escrow
