Steel Supplier Settles Feud Over $6M WTC Antenna 'Ransom'

Law360, New York (October 23, 2012, 3:36 PM EDT) -- The Port Authority of New York and New Jersey and an ADF Group Inc. unit reached a deal Tuesday to settle the Port Authority's claims that the steel contractor supplying materials for the antenna at 1 World Trade Center was holding the metal “ransom” for nearly $6 million.

ADF Steel Corp. and WTC Tower 1 LLC agreed to resolve the dispute, in which WTC 1, through the Port Authority, accused ADF of refusing to ship the antenna steel unless it received $6 million allegedly owed under...
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.