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By stan_sipple

St Louis area construction contractor Alberici Group and two of its subsidiaries face breach of contract complaints in Alabama federal court from the Jim Walter Company of Tampa Florida for Alberici's disputed construction of coal mine shafts near Tuscaloosa, Alabama. St Louis Business Journal. Jim Walter, a coal producer and subsidiary of Tampa-based Walter Industries Inc. (NYSE: WLT), said Alberici and two of its divisions, Gunther-Nash Inc. and Alberici Group, agreed in April 2005 to build two mine shafts at a Walter mine in Tuscaloosa County, Ala. The fixed-price contract for both shafts was nearly $10.4 million, and set completion dates in August 2006 and April 2007, the lawsuit said. Alberici quit working on each of the mine shafts before they reached the depth that had been agreed on in the contracts, failed to complete the projects by the deadlines, and performed substandard work, the lawsuit said. Jim Walter said it had to hire a different contractor to finish the construction of both mine shafts and was forced to pay significantly more. According to a statement released Monday by Gunther-Nash, in October 2006 Jim Walter Resources proposed a payment plan for all outstanding money owed to Gunther-Nash and stated that "contract retention will be paid after final review and acceptance of completed work. This will complete and finalize our contract requirements by agreement of the parties and will constitute a waiver of any claims by either party." Gunther-Nash said it ultimately completed its revised scope of work, reached agreement on the final payment amount and received final payment in March 2007 as full and final settlement and waiver of all claims by Jim Walter Resources.

Full post as published by Showmeblawgs on January 27, 2008 (boomark / email).