Mealey's Bankruptcy - 5th Circuit Cuts Damages By More Than $1.12M In Bankruptcy Contract Case

Mealey's Bankruptcy - 5th Circuit Cuts Damages By More Than $1.12M In Bankruptcy Contract Case

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on April 18 reversed a ruling and cut a $1.5 million award to $375,000 in a bankruptcy case, holding that the award of contract damages should not put the creditor in a better position than it would have been had the contract been fulfilled (Hess Management v. Denise M. Bankston [In the Matter of: Denise M. Bankston], No. 12-31016, Chapter 11, 5th Cir.; 2014 U.S. App. LEXIS 7332).

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