The plaintiff, a mortgage lender, suffered a loss when a required postponement of a prior charge was not obtained, leaving it as a third mortgagee rather than a first mortgagee.
The title insurer acknowledged coverage and paid the bulk of the loss after the property was sold under power of sale.
The plaintiff sued to recover approximately $40,000 in disputed property maintenance expenses and legal fees incurred by its independently retained counsel, as well as a determination on the interest calculation.
The court reduced the claimed expenses and legal fees, finding that some costs lacked strict proof, involved personal benefit to the plaintiff's principal, and were unnecessary given the insurer's early concession of coverage.
The court also ruled that interest was to be calculated and compounded semi-annually.