Federal court orders Department of Housing and Urban Development to pay $8.8 Million in damages for canceling a contract.
Federal court orders Department of Housing and Urban Development to pay $8.8 Million in damages for canceling a contract with Energy Capital Partners, a firm that was to have administered "up to $200 million in loans to help HUD-assisted housingdevelopers create more energy-efficient units." HUD admits that canceling the program was a breach of contract but claims that "improper circumstances" and "political pressure" lead to the deal. A HUD spokesperson said, "HUD was sued only for acting quickly to prevent the agency from being saddled with a bad deal."
Thanks to Abhijeet Chavan
Read the full story: Court Orders HUD to Pay $8.8 Million
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