In 2014, the New York Court of Appeals, in Biotronik A.G. v. Conor Medsystems Ireland, Ltd., held that the lost profits claimed by a party were “general damages”, and were recoverable. They were recoverable despite the limitation of liability provision in the contract, which stated that neither party would be liable for “any indirect, special, consequential, incidental or punitive damage with respect to any claim arising out of [the] agreement” for any reason, including a party’s performance or breach of the agreement.
About Amy Dugan
Amy helps to counsel clients regarding a wide variety of commercial contracts and compliance matters, ranging from simple to complex. These include business process outsourcing agreements, commercial procurement contracts, software-as-a-service agreements, marketing insertion orders, non-disclosure agreements, and regulatory compliance matters related to financial services and general business operations. Prior to joining King & Fisher, Amy practiced in-house at Quicken Loans and Xome Holdings, which is an affiliate of Nationstar Mortgage.