Longview Sues To Cut Down Mechanic's Liens In Ch. 11

Law360, Wilmington (December 12, 2013, 10:04 PM EST) -- Bankrupt plant operator Longview Power LLC launched a suit Wednesday aimed at trimming hundreds of millions of dollars from mechanic's liens lodged by contractors Siemens Energy Inc. and Kvaerner North American Construction Inc. against its $2 billion coal plant.

Longview contends Siemens and Kvaerner overinflated their mechanic's liens on its plant project, by improperly including amounts the contractors had agreed to waive and funds drawn on letters of credit.

Filed as an adversary suit in Longview's Chapter 11 case, the complaint asks the Delaware bankruptcy court...
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.