Jersey City Waterfront Developers Sink Into Ch. 11

Law360, New York (April 17, 2012, 6:06 PM EDT) -- Three Jersey City, N.J., development companies, two of which hold more than $370 million in waterfront area properties, filed for Chapter 11 protection Tuesday to overcome what representatives say is a litigation gridlock blocking their work.

Debtors Liberty Harbor Holding LLC, Liberty Harbor North Inc. and Liberty Harbor II Urban Renewal Co. LLC are owned by Peter Mocco, a longtime developer in the city behind the massive Liberty Harbor project.

Five city blocks with residential, commercial and retail components have been completed as part of that...
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