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King Fook Jewellery Grp. Ltd. v. Jacob & Co. Watches Inc.

Damages Owed Hong Kong Jeweler by Watch Maker for Contract's Breach Explained

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OPINION AND ORDER King Fook Jewellery Group Ltd. (“King Fook”) brought this breach-of-contract action against Jacob & Company Watches Inc. (“Jacob”), alleging that Jacob, a jewelry and watch manufacturer and designer, breached its contractual obligation to repurchase unsold products from King Fook, Jacob’s exclusive retailer in Hong Kong. On July 25, 2016, the Court granted King Fook’s motion for summary judgment on the issue of Jacob’s liability for breach of contract, but denied King Fook’s motion for summary judgment as to the amount of damages.On June 4 and 5, 2018, the Court held a bench trial on the issue of damages. Three witnesses testified: Yee Kwan Yeung (“Yee”), King Fook’s assistant general manager; Yeung Ping Leung Howard (“Yeung”), King Fook’s former chairman; and Beverley Bartalis, Jacob’s financial controller. The second day of the trial was held in a conference room at the office of King Fook’s counsel, where the products that King Fook seeks to have Jacob repurchase were displayed.Having considered the evidence presented at trial, the credibility of the witnesses, and the legal arguments made by counsel, the Court sets forth below its findings of fact and conclusions of law pursuant to Federal Rule of Civil Procedure 52(a).1I. Findings of FactA. The Parties1. King Fook is a Hong Kong limited company that operates a business retailing jewelry, watches, and gold. Yee Decl. 3; Yeung Decl.

4-5.2. Jacob was a New York corporation that made and sold luxury watches. Bartalis Decl.

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