NJ Property Owner Seeks $110M Over Illegal Condemnation

Law360, New York (August 16, 2012, 7:45 PM EDT) -- New United Corp., a Newark, N.J., property owner that recently beat a condemnation bid by Essex County Vocational Schools, was in state court Thursday seeking about $110 million over the taking.

However, Judge Paul J. Vichness declined to award damages to New United during the hearing in the Essex County Superior Court, saying discovery and hearings were needed to properly weigh how much the company is owed. The New Jersey Appellate Division in April overturned the condemnation, finding that ECVS breached the state's eminent domain law....
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.