Local News

Li-Cyle files lawsuit against local construction company

todayJanuary 29, 2024 1

Background
share close

ROCHESTER, N.Y. (WROC) — Li-Cycle, the Canada-based battery recycler has filed a lawsuit against a local construction firm.

This follows the company’s decision to “pause” work on the Rochester hub in October, citing an increase of construction costs.

Li-Cycle warned by New York Stock Exchange about low stock price

The lawsuit alleges that Pike Conductor Dev 1 — a fairly new company that shares a street address with Conductor Construction Management — was not able to maintain their end of a $58 million warehouse construction and lease back project agreement.

Li-Cycle says in the lawsuit they ended up paying over $53 million, and adds that Pike Conductor was unable to come up with long-term funding, and defaulted, as a way to get out of the agreement.

However, included in the filing is a response from the defense, who allege that Li-Cycle’s construction pause made it impossible to get financing in time.

Li-Cycle is seeking damages through trial.

News 8 has reached out to both Li-Cycle and Pike Conductor DEV 1/Conductor Construction Management, and haven’t heard back yet.

View the full filing here:

​ ROCHESTER, N.Y. (WROC) — Li-Cycle, the Canada-based battery recycler has filed a lawsuit against a local construction firm.

This follows the company’s decision to “pause” work on the Rochester hub in October, citing an increase of construction costs.
Li-Cycle warned by New York Stock Exchange about low stock price
The lawsuit alleges that Pike Conductor Dev 1 — a fairly new company that shares a street address with Conductor Construction Management — was not able to maintain their end of a $58 million warehouse construction and lease back project agreement.

Li-Cycle says in the lawsuit they ended up paying over $53 million, and adds that Pike Conductor was unable to come up with long-term funding, and defaulted, as a way to get out of the agreement.

However, included in the filing is a response from the defense, who allege that Li-Cycle’s construction pause made it impossible to get financing in time.

Li-Cycle is seeking damages through trial.

News 8 has reached out to both Li-Cycle and Pike Conductor DEV 1/Conductor Construction Management, and haven’t heard back yet.

View the full filing here:

202401290835Download Read More DevelopmentRochesterFirst  

Written by:

Rate it

Previous post

Two teens arrested in Perinton stolen car chase

Local News

Two teens arrested in Perinton stolen car chase

ROCHESTER, N.Y. (WROC) — Two teenagers were arrested Saturday, and police are searching for two other suspects, after a chase involving a stolen car in Perinton. Monroe County Sheriff's Deputies were called to Locust Lane around 3:47 a.m. for reports of a group of people breaking into cars. According to investigators, the first deputy to arrive saw three people run out of a carport and enter a waiting vehicle. When […]

todayJanuary 29, 2024 1

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *


Generated by Feedzy
0%