Naples, FL: The question arises. Jack Antaramian, a Naples resort developer, sued Manhattan Kraft Construction, Inc., the contractor, to audit the accounting records on the Naples Bay Resort project that came in over budget and over time and, finally, went into foreclosure. The question is what is Jack Antaramian’s family partnership, Antaramian Family LLC, have to do with this demand.
The defense attorney claims that Antaramian Family LLC is not a party to the contract. Who were the parties to the contract? Yet, Antaramian gets to audit the records by an outside agreement?
The two parties in the lawsuit were set for a hearing before a Collier County Circuit Court judge, but it was cancelled. Antaramian said right away he’s hiring PricewaterhouseCoopers LLP to review and audit the financial records.
According to the lawsuit, the guaranteed maximum price was $58.9 million but $64.9 million was paid. That equates to $6 million in change orders according to the defense attorney.
Antaramian seeks answers from the audit to determine whether the lawsuit should proceed to claim for damages due to a breach of contract for not completing the project on time.
Meanwile, another Naples development goes down under in an unstimulated construction economy.