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1861 CAPITAL MASTER FUND, LP v. WACHOVIA CAPITAL MARKETS, LLC

Nos. 7664, 7665, 7666, 7666A, 650214/08.

95 A.D.3d 620 (2012)

944 N.Y.S.2d 121

2012 NY Slip Op 3781

1861 CAPITAL MASTER FUND, LP, Appellant, v. WACHOVIA CAPITAL MARKETS, LLC, Respondent. and 1861 CAPITAL MASTER FUND, LP, Respondent-Appellant, v. WACHOVIA CAPITAL MARKETS, LLC, Appellant-Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided May 15, 2012.

In this action involving Wachovia's alleged breach of its obligations to fund a municipal bond repurchase credit facility, the terms of the subject agreements do not clearly, explicitly and unambiguously express an exclusion of the recovery lost profit consequential damages. Rather, the record presents factual issues as to whether such damages were fairly contemplated by the contracting parties in the event of a breach (see Awards...

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