2017 Greystone Multi-Family Builders, Inc. v. TPG (Post Oak) Acquisition, LLC, et al
After a four-week trial, the Honorable Judge Kirkland of the 334th Judicial District Court of Harris County, Texas rendered final judgment in a dispute over a $52 million construction project in Houston, Texas. DLJ’s clients sued the owner of the property for approximately $700,000, alleging that it had been improperly terminated under a construction contract. The owner countersued for breach of contract seeking damages of more than $19 million. Greystone MFB prevailed under the construction contract and the Court awarded Greystone MFB actual damages of $506,513.88, pre-judgment interest, and $3,620,306.62 in attorneys’ fees and expenses. The Court ordered that the owner take nothing on its counterclaims.
An owner affiliate also intervened, alleging breach-of-contract, breach of a joint venture agreement, and breach of a personal guaranty. The affiliate sought damages ranging from $19 to $22 million but was awarded only $647,717.13 and a fraction of its attorneys’ fees