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Fortis Financial Services v. Fimat Futures USA

290 A.D.2d 383, 737 N.Y.S.2d 40 (2002)

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Fortis Financial Services v. Fimat Futures USA

New York Supreme Court, Appellate Division

290 A.D.2d 383, 737 N.Y.S.2d 40 (2002)

Facts

Fimat Futures USA, Inc. (Fimat) (defendant) subleased premises from Fortis Financial Services, LLC (Fortis) (plaintiff). The premises were destroyed through no fault of either party. As the primary lease obligated it to do, Fortis paid for the repairs. Fortis then sued Fimat for restitution. Fortis relied on section 4 of the sublease, which made Fimat subject to the same obligations that Fortis bore under the primary lease. Fortis also relied on section 9 of the lease, which obligated Fimat, upon termination of the sublease, to restore the premises to their presublease condition. Fimat relied on a qualifier at the end of section 9, which arguably limited Fimat’s duty of restoration to pay for the removal of its improvements. The trial-level New York Supreme Court accepted Fimat’s interpretation of the qualifier and dismissed the case. Fortis appealed to the court’s appellate division.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

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