Toys R Us Can't Recover $10M In Times Square Rent, Taxes

Law360, New York (October 18, 2013, 2:28 PM EDT) -- Toys R Us Inc. can't get back $10 million it allegedly overpaid in rent for its Times Square flagship store because of miscalculated taxes, a New York state appeals court ruled Thursday, pointing out that the retailer paid the alleged overcharges unquestioningly for 12 years.

Toys R Us had argued that the lease limited the amount of real estate taxes it should pay for the signs of other tenants on the Times Square building, which is owned by an entity affiliated with the Moss real estate...
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