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WELLS REAL ESTATE v. CHARDON/HATO REY PARTNERSHIP

No. 09-1969.

615 F.3d 45 (2010)

WELLS REAL ESTATE INVESTMENT TRUST II, INC., Plaintiff, Appellant, v. CHARDON/HATO REY PARTNERSHIP, S.E., Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided August 5, 2010.

Attorney(s) appearing for the Case

Robert I. Steiner, with whom Damon W. Suden, Kelley Drye & Warren, LLP, Ricardo F. Casellas, and Casellas, Alcover & Burgos, P.S.C., were on brief, for appellant.

Eric A. Tulla, with whom Maritza I. Munich, Lillian Frattallone, José Bagué Iris J. Cabrera, and Rivera, Tulla & Ferrer were on brief, for appellee.

Before LYNCH, Chief Judge, TORRUELLA and LIPEZ, Circuit Judges.

LIPEZ, Circuit Judge.

This dispute arose after plaintiff Wells Real Estate Investment Trust, Inc. (Wells) entered into an agreement with defendant Chardón/Hato Rey Partnership, S.E. (Chardón) for the purchase of a commercial building in San Juan, Puerto Rico. Prior to the expected closing date, a large fuel spill occurred at the property, causing significant damage and displacing the building's tenants. Chardón insisted on proceeding to closing over...

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