$18.5M Mall Lease Award Needs Trim, Pa. Appeals Court Says

Law360, New York (August 1, 2013, 7:15 PM EDT) -- A Pennsylvania appeals court Monday vacated a $18.5 million judgment targeting a Safeway Inc. unit for allegedly escaping a shopping center lease, saying the money and interest awarded must be reduced to present value.

The Pennsylvania Superior Court handed Genuardi's Family Market Inc. a win after determining that developer Newman Development Group of Pottstown LLC must receive the present value of its lost rent damages since it apparently had conceded that fact during court proceedings. The court squashed the grocery's challenge against Newman's interest award, however,...
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