Solar Co.'s $50M Project Fund Liens Are Invalid, NJ Court Says

Law360, New York (March 24, 2014, 6:24 PM EDT) -- A New Jersey appellate panel on Monday denied a solar company’s bid to allow $50 million in liens on municipal financing dedicated to a long-stalled public solar project, ruling the liens are invalid under a statute that exempts the plaintiffs, two county improvement authorities, from liens.

A three-judge panel on the Superior Court of New Jersey’s Appellate Division sided with the Morris County and Somerset County Improvement Authorities, which filed suit against Power Partners Mastec LLC and SunLight General Capital to block $50 million in liens...
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