4 results for month: 12/2023
Court Affirms: Tagami’s “Lost Profits” Claim Fails Bigly
On December 22, Judge Noël Wise brought a “Joyeux Noël” (French for “Merry Christmas”) to litigation-weary Oakland and a lump of coal for developer Phil Tagami whose victory in the liability phase of the trial has been cut to size by the judge’s final decision on the remedies from which Tagami must choose.
In her final decision in the state court battle between Phil Tagami’s OBOT and the City of Oakland, Alameda County Superior Court Judge Noël Wise slashed OBOT’s $159.6 million damages claim, offering less than a fifth of a penny on the dollar. Tagami based his claim on massive profits he says OBOT would have earned but for the ...
Chump Change or Steep Road to Coal: Court Narrows Tagami’s Options
In a proposed statement of decision issued Monday, Judge Noël Wise slashed OBOT’s $159.6 million damages claim, leaving developers with a choice between walking away from the project with a paltry $317,683 or resuming efforts to build the terminal with an extension of their initial construction deadline to June 2026. Phil Tagami’s team has until January 5 to pick between these two remedies.
This is a big loss for OBOT. In their final pitch, the developers sought an opportunity to choose between $159.6 million to walk away or $24.6 million if they want to go ahead with the project. Instead, the court offered a choice between a much smaller ...
Judge denies OBOT’s “speculative” lost profits claim
Judge Wise awards fraction of a penny on Tagami's imaginary "losses"
Judge Noël Wise issued a "(Proposed) Statement of Decision re: Damages" in OBOT v Oakland today, December 11, 2023.
In it, she "finds that OBOT’s claim for lost profits is speculative and not reasonably certain."
As reported earlier, in seeking damages, "Tagami is seeking to choose between two alternative remedies that he has proposed: (1) $19.1 million in damages and reinstatement of his lease with 2½ years to commence construction ; or, (2) $159.6 million in damages to walk away from the project." In the second alternative, $154.4 million of the $159.6 million are the ...
Coal Trial Ends; Decision Expected By Xmas Weekend
The trial of Phil Tagami’s state court breach of contract case against the City of Oakland came to a close on the first day of December, four and a half months after it began. It's now up to Judge Noël Wise to decide what remedy Tagami has won.