CPT Corp. v. Daewoo International (America) Corp.

MORRIS SHEPPARD ARNOLD, Circuit Judge.

CPT Corporation (“CPT”) appeals a district court1 decision to reverse in part and affirm in part a decision of a bankruptcy court with respect to a claim filed by Daewoo International (America) Corporation (“Dae-woo”). The bankruptcy court allowed Dae-woo’s claim, but also awarded damages to CPT in . excess of it. The district court affirmed the decision to allow Daewoo’s claim, but reversed the award of damages to CPT. At issue is whether a lessor is responsible, under New York law and the lease in this case, for asbestos abatement required only in the…