- Associated Press - Friday, May 20, 2016

NEW YORK (AP) - The bi-state agency that owns the World Trade Center has reached a deal to end a payment dispute with a Canadian firm that worked on the site.

The Wall Street Journal (https://on.wsj.com/1To4KIS ) reports the Port Authority of New York and New Jersey will pay $12.3 million to Collavino Construction Co. Court papers say the deal will enable the Ontario-based company to make final payments to subcontractors who worked on One World Trade Center.

A Collavino subsidiary filed for bankruptcy in 2014 as it battled the Port Authority over lengthy delays during the construction. Collavino Construction, which was hired to handle concrete needs, also filed a few months later.

Collavino hired about 50 trade vendors and suppliers to help with the project.

A judge must still approve the deal.


Information from: The Wall Street Journal, https://www.wsj.com

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