New York Court Awards Lost Corporate Opportunity and Punitive Damages in Restaurant-Related Case

BVLaw
Court Case Digests
February 15, 2023
5813 Drinking Places (Alcoholic Beverages)
722410 Drinking Places (Alcoholic Beverages)
economic damages & lost profits
damages, discovery, projections, accounting, net income, economic damages

O’Mahony v. Whiston
2023 N.Y. Misc. LEXIS 651; 2023 NY Slip Op 30482(U)
US
State Court
New York
Supreme Court
John Johansen; Alan Blass
Jennifer G. Schecter

Summary

In a case of disputes among the owners of an Irish soccer bar in New York City, the court awarded economic damages and punitive damages after the controlling owners took proceeds of a lease buyout of the bar’s prior location to establish a new identical bar in a new location while cutting out the minority owners from the new bar. Using assets of the old corporation and thereby misappropriating a corporate opportunity of the old corporation, they started a new identical bar (including the name) in a new location in a corporation the control owners set up.

See Also

O’Mahony v. Whiston

In a case of disputes among the owners of an Irish soccer bar in New York City, the court awarded economic damages and punitive damages after the controlling owners took proceeds of a lease buyout of the bar’s prior location to establish a new identical bar in a new location while cutting out the minority owners from the new bar. Using assets of the old corporation and thereby misappropriating a corporate opportunity of the old corporation, they started a new identical bar (including the name) in a new location in a corporation the control owners set up.