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Hanover Ins v. Binnacle Development
Case Number:
21-40662
Court:
Nature of Suit:
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January 13, 2023
5th Circ. Affirms Hanover's $570K Award Against Developers
Three land developers cannot offset a $570,000 judgment awarded to Hanover Insurance Co. for outstanding contract balances, the Fifth Circuit ruled, affirming a lower court's holding that liquidated damages clauses in those contracts are an unenforceable penalty under Texas law.
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November 07, 2022
Texas Developers Tell 5th Circ. Hanover Shouldn't Get $570K
A trio of developers sought to persuade the Fifth Circuit on Monday that their deal with a now-defunct contractor fell under a Texas public works contract law that would allow them to offset a judgment awarded to Hanover Insurance Co. by a trial court.
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May 03, 2022
Developers Can't Offset $570K Award, Insurer Tells 5th Circ.
A surety bond insurer urged the Fifth Circuit to uphold a lower court's ruling entitling it to around $570,000 in outstanding contract balances from three land developers, saying the developers' affirmative defense to offsetting those damages rests on a clause unenforceable under Texas law.
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February 03, 2022
Texas Court Missed On Hanover Contract Case, 5th Circ. Told
Three land developers asked the Fifth Circuit to revive their bid seeking nearly $1 million from Hanover Insurance Co. for construction delays, arguing that a Texas court improperly classified their claims as unrecoverable liquidated damages.