In the United States, a dispute over which company should develop an abandoned terminal in Bayonne Harbour in the eastern state of New Jersey has gone to court.
The Port Authority of New York and New Jersey (PANYNJ) is suing the Bayonne Local Redevelopment Authority (BLRA) and Ports America as well other parties that bid for the terminal.
BLRA says Ports America, an AIG Group company, outbid the PANYNJ for the terminal site.
But PANYNJ claims that the BLRA had agreed its $50.5 million bid for the 125 acre terminal site in September and that it only started to seek other bidders after local politicians and community activists 'balked at what they considered a cheap price'.
PANYNJ had planned to develop the facility into a ro/ro terminal for vehicle shipments.
Ports America is reported to have entered a $90 million bid and also had plans to develop the site as an automobile terminal.
PANYNJ's lawsuit was triggered by the signing of a deal between Ports America and the BLRA last week.
It maintains that it is holding on to a prior and binding contract for the sale.
As well as BLRA and Ports America, PANYNJ is also suing Fortis Property Group in Brooklyn, the World Wide Group and Shaw Environmental.
According to PANYNJ, bidders for the terminal site had 'induced' BLRA to breach the initial contract by offering more money after the original deal became public knowledge.
The Port Authority of New York and New Jersey (PANYNJ) is suing the Bayonne Local Redevelopment Authority (BLRA) and Ports America as well other parties that bid for the terminal.
BLRA says Ports America, an AIG Group company, outbid the PANYNJ for the terminal site.
But PANYNJ claims that the BLRA had agreed its $50.5 million bid for the 125 acre terminal site in September and that it only started to seek other bidders after local politicians and community activists 'balked at what they considered a cheap price'.
PANYNJ had planned to develop the facility into a ro/ro terminal for vehicle shipments.
Ports America is reported to have entered a $90 million bid and also had plans to develop the site as an automobile terminal.
PANYNJ's lawsuit was triggered by the signing of a deal between Ports America and the BLRA last week.
It maintains that it is holding on to a prior and binding contract for the sale.
As well as BLRA and Ports America, PANYNJ is also suing Fortis Property Group in Brooklyn, the World Wide Group and Shaw Environmental.
According to PANYNJ, bidders for the terminal site had 'induced' BLRA to breach the initial contract by offering more money after the original deal became public knowledge.