Mervis Diamond Importers Awarded Nearly $5 Million



Mervis Diamond Importers, based out of the
Washington, D.C., metro area, was awarded nearly $5 million dollars after a
long legal battle with Congressional Hotel Corp.

Mervis signed a contract with CHC in 2004 for a lease
of 3,000 square feet of retail space. Mervis sued CHC in 2005, claiming the
developer had breached its obligations by failing to build out and deliver the
space under the terms of the lease. Mervis won the suit in 2006, but CHC
appealed.

At the damages retrial, Mervis received over $500,000
more in damages. CHC appealed again, and this month, the Court of Special
Appeals in Annapolis, Md., affirmed the ruling. In addition to $2.9 million in
lost profit damages, CHC is liable to Mervis for pre- and post-judgment
interest and legal fees. The total value of the award is close to $5 million.