An apartment unit with missing walls is seen at the Tutu High Rise building after Hurricane Irma in St Thomas, U.S. Virgin Islands on Sept. 12, 2017. (Photo: Michael Nagle/Bloomberg)Companies rebuilding storm-damaged homes in the U.S. Virgin Islands under a federally funded program say they haven't been paid in months and are threatening to place liens on the houses.
The dispute highlights what critics call the slow pace at which the Trump administration has distributed aid money to the Virgin Islands and Puerto Rico following a string of devastating storms in 2017. The U.S. Federal Emergency Management Agency (FEMA) says it's simply following the steps required to ensure the money is spent properly.
|3 subcontractors owed more than $60M
In a letter dated Feb. 22 and obtained by Bloomberg News, the three companies — Polaris Engineering Inc. and Lamar Contractors LLC, both based in Louisiana, and SLSCO Ltd. of Texas — say they're owed more than $60 million in “severely past due invoices, some of which are nearly one year old.”
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
