Developers, SC Capital See Hotel Contract Row Revived

Law360, New York (December 1, 2011, 5:00 PM EST) -- A South Carolina appeals court on Wednesday found that Columbia, S.C.'s memorandum of understanding with a group of developers for a hotel near the city's convention center should be counted as a contract, reversing a lower court's ruling.

Developers Garfield Traub Development and Gary Realty Co. and architect Stevens & Wilkinson brought claims for breach of contract in 2004 when the city gave the contract to Windsor/Aughtry Co. Inc. after the group had put more than $1.2 million into the project.

The appeals court found that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.