We are pleased to have secured an appellate victory on behalf of our clients in their long-running litigation against Hertz International Limited and Hertz Holdings Netherlands B.V.
The Appellate Division, First Department affirmed the judgment in favor of our clients, awarding them over $18 million in connection with Hertz’s obligation to pay an Alternative Financing Premium under a Backstop Agreement.
The Court upheld the finding that Hertz had triggered its obligation to pay the premium and that the agreement’s impossibility exception did not apply.
Our team included partners Duane Loft and Joshua Naftalis.
Congratulations to the team on this significant result.
