Verbal Pact For $89M Airport Security Contract Won't Fly: Court

Law360, New York (June 13, 2012, 6:08 PM EDT) -- Haynes Security Inc.'s bid to extend an $89 million security contract for New York's LaGuardia and JFK airports was thwarted Wednesday when a New Jersey state appeals court ruled that a verbal promise didn't constitute a legal agreement with the Port Authority of New York and New Jersey.

The appeals panel rejected Haynes President John D'Agostino's argument that he was entitled to a two-year extension of his company's original four-year security contract because numerous Port Authority higher-ups had promised him one.

Even if the promises were...
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