professional knowledge that the prime interest rate as obtained from the Wall Street
Journal has remained the same from December 16, 2008 through September 18, 2013 at
a rate of 3.25%. He asserted that the calculations set forth in Petitioner's "7" show the
interest rate due and owing on a monthly basis from August 2007 through September
2013 for a grand total of $24, 635.82.
On cross-examination, the witness stated that not only did he prepare a rent
arrears chart using the CPI index, he also prepared a chart using the Chained CPI index
as instructed by Mrs. DeLotto. Mrs. DeLotto appeared at trial as Petitioner's co-counsel.
He stated again that it was his decision to apply Table 24 as opposed to Table 24C for the
fixed rent calculations and he based his actions on the language in the lease,
notwithstanding substantial cross-examination by the Respondent in this area.
Mr. Bandini also indicated that the first time that he did the calculations was
in December 2012. He testified that he was not instructed by anyone to use any specific
chart. He reviewed the lease and intentionally coordinated the language of the lease to
match the appropriate table. The accountant asserted that the lease did not contain the
word "chained" CPI and further stated that "I would say table 24 most closely resembles
the words in the lease. It didn't include the word chained." (Bandini Cross, p.61, lines
8-17 and 18-21).
Additionally, the witness stated that "being a C.P.A., we get many different
types of agreements, whether partnership agreements, trust agreements, lease agreements
and we were asked to review those to see what either accounting or tax implications they
have. I do look at them and reread through them. I do not — I do take a look at
them." (Bandini, p.47, lines 1-7).