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NYC developers call Senegal a “deadbeat”

New York developers Hotel 44th St. LLC and East 46th Street Development Co. have accused the Republic of Senegal of being a "deadbeat" in a federal complaint (see complaint filing below). The developers claim that representatives from the Senegalese government had agreed to pay $27 million for a building at 227-235 East 44th Street between Second and Third avenues. But the representatives then allegedly began putting off the payment and making pledges that "the check is in the mail," the complaint says, like a "notorious deadbeat." The plaintiffs, represented by Neal Barlia of Dickstein Shapiro, claim that they have suffered $15 million in damages as a result of Senegal's bad faith. "Although the check may have been in the mail," the complaint says, "it never arrived, and Senegal has been unable to fund the purchase price." [Courthouse News Service]

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