Tampa Pipeline Transport Co. v. Chase Manhattan Service Corp.

OPINION

THOMAS G. WILSON, United States Magistrate Judge.

This case, which features an unusual issue of mitigation of damages, arises from the remarkable misplacement of two promissory notes with a face value of more than 11 million dollars. The misplacement of the notes aborted a transaction which would have reduced the notes’ interest rates. The plaintiffs, who are the makers of the notes, sued the defendant for breach of an agreement to assign the notes. I find, following a non-jury trial, that there was such an agreement, and that the defendant breached it. I find further, however, that,…