I guess we saw the writing on the wall (no pun intended). Hultgren Construction is filing for bankruptcy after insurance companies paid out millions in claims. The sad part about this is that the insurance companies should have paid the victims first, which has included a myriad of people and businesses.
Of course all of this hinges on whether or not the insurance companies and victims can also pin this on Legacy Development. In a perfect justice world, since the insurance companies decided to pay off damaged property instead of victims first, if more money can be garnered from Legacy, the lion’s share should go to the victims first.
Secondly, if Legacy is found liable, what will that mean for them? They have millions tied up in projects across the city and region, including a dubious Public/Private partnership with the city. Could this also bankrupt them?
At the end of the day, NO ONE is a winner. Someone is dead, others have suffered emotionally, physically and financially and even others have had their businesses uprooted.
As I said to a friend the other day, “It amazes me that some of the players in this tragedy still show their face in this town. It’s despicable and disgusting!”