NY Appeals Court Raises Real Estate Mogul's Damages Tab

Law360, New York (April 23, 2013, 7:09 PM EDT) -- A New York appeals court agreed Tuesday to raise the damages that New York City developer and investor Harry Macklowe has to pay a former employee in a long-running suit over allegedly breaking an agreement to hand over minority stakes in several Manhattan properties.

The state appellate court affirmed a lower court's decision to recalculate damages that had been awarded in 2011 to plaintiff Warren Cole, after it found that damages linked to one of the contested properties and to a portfolio of distressed debt had...
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