Haynes and Boone Client Awarded $2.5 Million In Damages and Fees Following Trial

03/02/2015

NEW YORK – On the heels of a Haynes and Boone, LLP victory at trial for its client Metroeb Realty 1, LLC, the Supreme Court, Kings County, New York issued a decision awarding Metroeb almost $2.5 million in damages, fees, and expenses.  In a 45-page decision, Justice Carolyn E. Demarest detailed the award – which includes over $500,000 in attorneys’ fees – Metroeb is entitled to recoup as a result of the proceedings.

In addition, the court granted Metroeb’s motion for sanctions against Metropolitan Lofts of New York, LLC due to Metropolitan’s post-trial motion practice before the trial court and appellate division that sought to prevent Metroeb from selling the property at issue to RedSky Capital LLC pending Metropolitan’s appeal of the trial decision.

Metropolitan had commenced the action against Metroeb seeking to enforce a purported agreement to purchase property owned by Metroeb in the Williamsburg section of Brooklyn. At the outset of the case, a preliminary injunction was issued which prevented Metroeb from selling the property during the pendency of the lawsuit.

At trial, Metroeb successfully argued that the agreement Metropolitan sought to enforce was not binding and accordingly, that Metroeb should be permitted to sell the property to RedSky Capital. The sale of the property was completed in July 2014 following the Court’s decision in Metroeb’s favor after trial.

New York partner Kenneth Rubinstein and associates Sarah Jacobson and Joseph Lawlor represent Metroeb.

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