Salvation Army Back On Hook In $200M Lease Breach Suit

Law360, New York (July 3, 2012, 8:35 PM EDT) -- A New York appeals court on Tuesday reinstated a breach of contract suit brought by the owner of a Queens, N.Y., hotel-turned-homeless-shelter against the Salvation Army, holding the shelter operator fiscally responsible for an alleged $200 million worth of damage that happened on its watch.

A five-judge panel found that the Christian charity did not live up to the contractual obligations of a lease that required the Salvation Army to return the Carlton House Hotel, which it operated as a city homeless facility, to owners JFK...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.