Favelle Favco’s U.S. unit served with USD52.5 million claim over 2023 crane incident
Favelle Favco Berhad said its U.S. subsidiary Favelle Favco Cranes (USA) Inc. was served with a Summons with Notice in New York seeking USD52.5 million in damages.
Source: Favelle Favco Berhad · August 2, 2026 at 10:57 PM · AI-assisted report
Single-sourceKUALA LUMPUR, 3 AUGUST 2026 —
Favelle Favco’s U.S. unit faces USD52.5 million claim over 2023 crane incident
Market Impact
Favelle Favco Berhad’s U.S. subsidiary, Favelle Favco Cranes (USA) Inc., has been served with a Summons with Notice in New York seeking USD52.5 million in damages over a crane incident that occurred in 2023. The claim, filed by Employers Insurance Company of Wausau as subrogee of 555 Tenth Avenue Leasehold Condominium, names Favelle Favco, its U.S. unit, and 13 other defendants.
The incident took place on 26 July 2023 in New York. Favelle Favco stated that its U.S. subsidiary’s involvement was limited to supplying the crane, and neither the parent company nor its U.S. unit owned, operated, or maintained the equipment at the time. The company noted that an official independent investigation report did not attribute the incident to any failure by the manufacturer.
Favelle Favco believes it has strong grounds to defend the claims and has notified its insurer, intending to vigorously contest the proceedings.
Favelle Favco does not expect the proceedings to have a material financial or operational impact on the group at this stage. However, the company cautioned that it cannot reliably estimate potential financial exposure until further legal developments unfold.
The announcement was made on 28 July 2026.