Major Gold Depository Sues Landlord For Hurricane Sandy Damage.

As reported on by two New York papers [here and here], CTSW filed a lawsuit for our client, a major precious metals depository, claiming that millions of dollars in gold, platinum and palladium must be cleaned or melted down because its financial district landlord failed to take sufficient measures to prevent flooding and attendant damages resulting from Hurricane Sandy. Our client, Manfra, Tordella & Brookes (“MTB”), a depository on the New York Mercantile Exchange-CME Group, seeks more than $4 million in damages because its landlord did nothing to stop filthy and contaminated floodwaters from inundating MTB’s basement vault and destroying precious metals, as well as office property. CTSW currently represents a number of businesses that suffered significant losses as a result of Hurricane Sandy in resolving insurance coverage and other matters relating Sandy that caused over $50 billion in damages throughout the tri-state area.