Baring Industries, Inc. v. 3 BP Property Owner LLC et al
JUDGMENT IT IS on this 17th day of November, 2022, ORDERED, ADJUDGED AND DECREED, that Baring's First Claim against Defendants to foreclose upon the Lien and the Bond is dismissed with prejudice; and it is further ORDERED, ADJUDGED, DECREED, AND DECLARED, that 3 BP Property's First Counterclaim is granted and pursuant to Lien Law §39 Earing's Lien is void due to its willful exaggeration; that Baring's Lien is discharged as a lien against the Property and the New York County Clerk is hereby directed to cancel, discharge, and release of record the Lien; that the Lien is void and of no force and effect, and 3 BP Property has no liability to Baring in connection with said Lien or otherwise; that the surety, WFIC, and the Bond issued by it to secure any judgment Baring may obtain in this action on the foreclosure of said Lien, is discharged without further liability and WFIC, as the surety, is released and discharged from its obligations under the Bond; and it is further ORDERED, ADJUDGED AND DECREED, that defendant 3 BP Property Owner LLC, having an address at c/o IC US Capital Properties LLC, 3 Bryant Park, New York, New York 10036, have judgment against and recover from the plaintiff Baring Indust ries, Inc., having an address at 3249 S.W. 42nd Street, Fort Lauderdale, Florida 33312, the sum of $875,599.67, representing: 1. The principal amount of $320,356.94, representing statutory damages by which Baring's willful exagge ration exceeds the amount of the Lien pursuant to N.Y. Lien Law§ 39-a (the "Lien Award"); 2. The principal amount of $516,406.15, for additional statutory damages pursuant to N.Y. Lien Law§ 39-a in connection with 3 BP Proper ty's efforts to bond and/or discharge and/or as a result of Baring's willfully exaggerated Lien (the "Fees Award"), representing $28,192.00 paid or incurred by 3 BP Property as and for Bond premiums as of May 5, 2022, and 36;477,410.06 in attorneys' fees as of December 31, 2021, $3,045.09 in costs and expenses as of December 31, 2021, and $7,759.00 for court reporting fees as of December 31, 2021; 3. Prejudgment interest on the Fees Award at the statu tory rate of nine percent (9%) per annum pursuant to CPLR § 5001 et seq. from January 15, 2022 through November 14, 2022, in the amount of $38,581.91; 4. Prejudgment interest on the Fees Award at the statutory rate of nine percent (9%) per annum pursuant to CPLR § 5001 et seq. from November 15, 2022 to the date of the entry of this Judgment, 11/17, 2022, at the per diem rate of $127.33 per day, in the amount of $254.67; and it is further ORDERED, ADJU DGED AND DECREED, that post-judgment interest shall accrue on the total amount of the Judgment at the applicable federal rate from the date of the entry of this Judgment until such Judgment is paid and satisfied; and it is further ORDERED, ADJUDGED AND DECREED, that costs shall be taxed in favor of Defendants by the Clerk of this Court. (Signed by Judge John G. Koeltl on 11/17/2022) (ks) Transmission to Finance Unit (Cashiers) for processing.