Main EnCap investor suing NJ

March 7, 2009 1:23:19 PM PST
The leading investor in a failed project to build houses and a golf course in New Jersey's Meadowlands is battling in court to get some of its money back. Cherokee Investment Partners is suing the town of North Arlington for allegedly breaking an agreement to develop a 115-acre site on the eastern edge of the town.

The development was seen as augmenting the massive EnCap project in the neighboring towns of Lyndhurst and Rutherford.

Attorneys for Cherokee claim North Arlington officials breached the contract by not forcing local businesses to allow the company onto their property for environmental testing.

The state officially pulled the plug on EnCap last year after sinking more than $200 million into the project.

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Information from: The Record of Bergen County


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