Opinion ID: 2319344
Heading Depth: 1
Heading Rank: 3

Heading: WCD's Lawsuit and NTV's Counterclaim

Text: WCD brought an action in Superior Court against NTV alleging breach of contract. WCD asserted that NTV breached the contract when it demanded that WCD close prior to the substantial completion of the Unit, as [n]either the base building nor the Unit was at a state of Substantial Completion as of February 1st. WCD sought to recover the escrow funds, lost opportunity costs, nominal additional damages, attorneys' fees pursuant to the contract's provisions pertaining to the prevailing party, litigation costs, and prejudgment interest. NTV counterclaimed, alleging, in part, that WCD breached Section 9.1 of the contract by failing to settle on the[] purchase of the Unit within five days of receipt of notice from Defendants that construction of the Unit was substantially completed. NTV stated that WCD's failure to close caused it to incur a month's worth of carrying charges, totaling $60,479.56. Further, NTV alleged that WCD breached § 7.10(c) of the contract by failing to provide a full accounting of the Build-Out Costs for which it had agreed to pay NTV 5% in construction coordination fees. NTV sought damages in the amount of $60,479.56, 5% of its build-out costs as set out in the [c]ontract, interest at the statutory rate, from February 1, 2007, reasonable attorneys['] fees, and costs.