Market Crash Doesn't Cut $40M Award In RE Row: Md. Court

Law360, New York (December 4, 2012, 7:29 PM EST) -- Maryland's highest court recently upheld a $39.7 million jury verdict for developer The Penrose Group in its suit against two families for blocking development of two luxury apartment towers, ruling the families could not cite the 2008 housing market crash as proof the development wouldn't have been profitable.

On Nov. 27, the Maryland Court of Appeals upheld a state appellate court ruling that affirmed a March 2010 jury verdict against the Camalier and Davis families for $36 million in damages and lost profits and $3.7 million...
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