{"id":3063,"date":"2024-10-22T20:57:18","date_gmt":"2024-10-22T20:57:18","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/judge-awards-1-6-billion-over-delayed-resort-development\/"},"modified":"2024-10-22T20:57:18","modified_gmt":"2024-10-22T20:57:18","slug":"judge-awards-1-6-billion-over-delayed-resort-development","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/judge-awards-1-6-billion-over-delayed-resort-development\/","title":{"rendered":"Judge Awards $1.6 Billion Over Delayed Resort Development"},"content":{"rendered":"\n<div data-v-84c6be9c=\"\">\n<div data-v-84c6be9c=\"\">\n<p>A New York Judge has ordered a Chinese construction company to pay $1.6 billion to the developer of a Bahamian casino resort over delays, finding China Construction America Inc. engaged in fraud.<\/p>\n<\/div>\n<p>  <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>The decision from Manhattan Supreme Court Justice Andrew Borrok awarded the developer behind Baha Mar, BML Properties, the entire $845 million investment in the development, as well as interest on that amount dating back to May 2014.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>BML Properties was represented by a team from Susman Godfrey and Dorf Nelson &amp; Zauderer.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>&#8220;We are pleased with the Court&#8217;s ruling that allows our client to recover the significant losses resulting from CCA&#8217;s egregious conduct,&#8221; plaintiff&#8217;s counsel and Susman Godfrey partner Jacob Buchdahl said in a statement.<\/p>\n<\/div>\n<p> <!---->  <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>&#8220;This landmark result was a total vindication,&#8221; he added.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>BML filed suit against CCA in 2017, alleging the Chinese contractor had engaged in a &#8220;massive fraud&#8221; and contract breach claiming it intended to meet a planned 2014 deadline to open the resort.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>The suit alleged the state-owned company knew it would not meet deadlines yet created the illusion it would in order to collect fees.<\/p>\n<\/div>\n<p> <!----> <!---->  <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>A spokesperson with China Construction America (CCA) called the ruling &#8220;deeply flawed under well-settled principles of New York Law.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>Borrok, of the Manhattan Commercial Division, issued the 74-page decision on October 18 following an 11-day bench trial.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>Fraud, the judge found, was &#8220;established beyond doubt.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>Borrok found that a board member of a defendant entity had breached the investors agreement at &#8220;no fewer than six times&#8221; and committed &#8220;at least four instances of fraud.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>BML was represented by Buchdahl, Elisha Barron, Tamar Lusztig and Stephanie Spies of Susman Godfrey and Mark Zauderer and Jason Cohen of Dorf Nelson &amp; Zauderer.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>CCA&#8217;s spokesperson said the decision &#8220;ignores indisputable evidence that BML Properties overborrowed, overspent and overextended itself and then drove the project into a wrongful, secret bankruptcy to eliminate its obligations at the expense of other stakeholders.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>CCA was represented by a team from Debevoise &amp; Plimpton. Defense counsel did not return a request for comment.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-84c6be9c=\"\">\n<p>The resort, located on the island of New Providence, opened in 2017.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----> <!----> <!----> <!----> <!----> <!----> <!----> <!----> <!----><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A New York Judge has ordered a Chinese construction company to pay $1.6 billion to the developer of a Bahamian casino resort over delays, finding China Construction America [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[2052,1370,818,3861,423,3860],"class_list":["post-3063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lawyers","tag-awards","tag-billion","tag-delayed","tag-development","tag-judge","tag-resort"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=3063"}],"version-history":[{"count":0,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/3064"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=3063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=3063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=3063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}