By Logan Neill, Times Staff Writer
Tuesday, December 7, 2010
BROOKSVILLE — The City Council approved a proposal Monday that will allow its attorney to proceed with litigation against two bonding companies on a contingency basis.
By a 3-2 vote, the council granted authority to the Hogan Law Firm to go after about $20 million in performance bonds for infrastructure that were issued to the now-bankrupt developers of Southern Hills Plantation. The city says it is owed the money because the developers didn't complete work on the infrastructure.
Under the proposal, the law firm will act as an independent contractor in the court cases against Travelers Casualty and Surety Company of America and Chubb Group Insurance Cos. and will receive anywhere from 5 percent to 25 percent of money recovered, depending on the amount.
Although initially opposed to the deal, newly elected council member Emory Pierce ended up supporting it ...
