Fed. Claims Nixes Wetland Bank's $1.4M Army Corps Suit

By Aebra Coe (November 3, 2014, 6:50 PM EST) -- The U.S. Court of Federal Claims dismissed a so-called wetland mitigation bank's $1.4 million breach of contract suit against the U.S. Army Corps of Engineers on Friday, finding that while the contract between the agency and bank was indeed valid, the lawsuit was filed eight years too late.

Under the contract governing Davis Wetland Bank LLC's restoration of a Virginia wetland pursuant to a government voucher credit program, the suit should have been filed within six years of the end of an agreed-upon period to re-evaluate the number of credits owed to Davis, which ended in 2005, the court found. As...

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