Judge: High Rock need not reimburse BofA for removal of property from Superman Building

A U.S. District Court judge has ruled that High Rock Westminster Street LLC’s lawsuit against Bank of America Corp. will continue after determining High Rock does not owe the bank reimbursement for the $350,000 Bank of America paid to have High Rock remove its personal property from the now-vacant 111 Westminster St. office tower. More

To continue reading this article, please do one of the following.



justice

Judge: High Rock need not reimburse BofA for removal of property from Superman Building

PBN FILE PHOTO
A U.S. DISTRICT Court judge dismissed Bank of America's argument that it was owed reimbursement from High Rock Westminster Street for the $350,000 Bank of America paid to have High Rock remove its personal property from its former offices in 111 Westminster St.
Posted 8/8/14

PROVIDENCE – A U.S. District Court judge has ruled that High Rock Westminster Street LLC’s lawsuit against Bank of America Corp. will continue after determining High Rock does not owe the bank reimbursement for the $350,000 Bank of America paid to have High Rock remove its personal property from the now-vacant 111 Westminster St. office tower.

In a suit filed in U.S. District Court in July 2013, Newton, Mass.-based High Rock asked for more than $23.6 million in damages from Bank of America, alleging the bank left the 26-story art deco building known as the “Superman Building” with “crumbling facades, corroded window frames and obsolete building systems.”

In addition, High Rock said Bank of America owed several months’ rent as a hold-over tenant because it failed to remove some furnishings, equipment and other personal property following the expiration of its lease in April 2013.

Under an agreement made in November, Bank of America agreed to pay High Rock $350,000 to dispose of the furnishings left behind, and High Rock agreed it would not seek hold-over rent for any period beginning 45 days after receiving the $350,000 check. High Rock did not drop its claims for hold-over rent for the period before that date, however.

On June 17, 2014, Bank of America filed a motion claiming High Rock owed the bank reimbursement for the $350,000 payment, arguing it was not obligated to remove the furnishings and property under the terms of the lease agreement.

Chief Judge William E. Smith in a ruling issued Aug. 6 determined that High Rock does not owe reimbursement, as the $350,000 payment was made under a valid agreement between the two parties, rendering Bank of America’s argument futile.

To view the complete ruling, visit www.rid.uscourts.gov.

Calendar
PBN Hosted
Events

Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement