Trump’s company, however, is appealing
On Feb. 28, the Supreme Court of the State of New York entered a judgment against Madison Avenue Diamonds LLC (doing business as Ivanka Trump Fine Jewelry) and company principal Shaindy Lax for $3.05 million.
The court first ruled against Trump in September.
The two parties’ contract called for Madison to pay KGK a total of $3 million for jewelry it delivered. While Madison made the first specified payment, it did not make subsequent ones, as KGK had been one day late delivering a CAD file.
In his ruling, Judge Charles E. Ramos found that the one-day delay did not release Madison “from its further payment obligations to KGK.”
The court rejected Madison’s attempt to amend its claim by asserting that KGK’s jewelry was “of substandard quality,” according to a statement by KGK. The judge agreed with the company that those allegations have no basis in the suit.
“As KGK has maintained throughout the course of this unfortunate lawsuit, Madison never had any basis for withholding the contractual payments to which it had agreed,” said Sanjay Kothari, vice chairman of the KGK Group, in a statement.
Madison Avenue Diamonds’ attorney tells JCK that it is appealing the judgment and is confident it will prevail.
“The trial court did not determine that KGK fulfilled its manufacturing and delivery obligations to Madison Avenue Diamonds,” he says. “The court merely said that KGK’s late delivery of Madison Avenue’s intellectual property…was legally excused.”