By now, you’ve probably seen some pictures of a condominium that was supposed to be a beautiful condo, but it was never built, let alone occupied.
There was one other condo built at the same site that wasn’t built, but its owners were sued for negligence for failing to meet building codes.
Now, we have a pretty good idea of what happened to that one.
On Friday, the state’s attorney’s office filed a civil lawsuit against Bethel Wood, the condominium’s owner, for failing “to comply with a construction code of the building, and failing to install or maintain safe materials and equipment required for a residential condominium project.”
According to the complaint, Bethel had a $6.5 million loan, and when it got to the project stage, the lender defaulted.
The homeowners’ insurance company filed a claim against Bethe on behalf of the state, and the homeowner’s insurance company said that they did not think it was worth suing.
But the insurance company didn’t know about the missing condo until after it was built.
The condo’s developer told the state that it was going to have to pay $6 million to cover the $6,000 to $8,000 of legal fees that the state was going through.
And the insurance agent said that Bethel’s builders were going to owe them money for any future work.
The developers’ attorney said that the condo was supposed be built in 2010, but that the owners had no idea when it was supposed in the first place.
The builders did not tell the state about the defects until the project was completed in 2014, and then, the insurers claimed that Bethe owed them $4 million.
But the developers’ attorneys said that it would be too much to sue Bethel.
The insurance company has now decided to settle the lawsuit, and they agreed to give up the $4,000, and that they would pay Bethel $2,000.
The state has agreed to cover Bethel with $3 million in damages.