Arch Hit With $5M Suit Over HUD Development Project

Law360, New York (July 17, 2012, 8:29 PM EDT) -- A Pennsylvania housing developer launched a suit Monday looking to hold Arch Insurance Co. responsible for more than $4.7 million in missed subcontract payments related to the construction of a U.S. Department of Housing and Urban Development project in New York.

In a complaint filed in New York federal court, Innovative Design & Building Services LLC says that Massachusetts-based J.K. Scanlan Co. missed payment on a $23.9 million subcontract for the construction of the Orchard Hills affordable housing project in Newburgh, N.Y.

Now Arch, which guaranteed...
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