Former Katerra Client Demands Return Of $1M Payment Error

By Vince Sullivan (October 7, 2021, 5:58 PM EDT) -- A former client of construction firm Katerra Inc. told a Texas bankruptcy judge late Wednesday that it inadvertently wired more than $1 million to the company last month and asked the court to order the debtor to return the money, which it needs to continue a construction project.

In a motion, The Ericsson Apartments LP said it intended to wire a payment of about $1 million to the construction contractor that replaced Katerra on an Ohio renovation project, but that it mistakenly used old transfer information to make the payment, which went to Katerra instead.

Since making the misdirected transfer on...

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