US Wins $11M From Owner Of Insolvent Contracting Co.

Law360, New York (September 26, 2011, 5:32 PM EDT) -- A Texas federal judge ruled Monday that the U.S. could collect $11 million from the owner of insolvent contractor Renda Marine Inc., which allegedly transferred money to its owner's other companies to avoid repaying a debt owed under a dredging contract.

U.S. District Judge Michael H. Schneider adopted a magistrate judge's August report and recommendations, finding that owner Oscar Renda could be held personally liable for the unpaid debt and that he had failed to raise a timely protest to the government's final decision on the...
To view the full article, register now.