Perini sought to have this awarded vacated in the New Jersey state courts on the grounds that (i) the operative contract did not contemplate the recovery of lost profits (ii) lost profits could not be awarded after the project was substantially complete and (iii) the $14.5 million award was grossly disproportionate to the $600,000 fee that Perini was to be paid under the contract. and follows its path from four years of arbitration to its ultimate resolution by the New Jersey Supreme Court.ĭue to Perini’s delayed completion of renovations to an Atlantic City hotel and casino, an arbitration panel concluded that Perini caused the owner to suffer $14.5 million in lost profits and ordered it to pay this amount. This article explores the history of Perini Corp.
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