Business & Tech
Liberty Meadows Principal Sues Lender
According to 'Long Island Business News,' Jim Tsunis and Enrico Scarda are suing Bethpage Federal Credit Union for $55 million.
According to a report on the Long Island Business News, the principal of Northwind Group is suing Bethpage Federal Credit Union for $55 million, claiming the lender failed to live up to its end of a bargain in funding the 43-unit Liberty Meadows condominium project.
The lawsuit claims breach of contract, fraud, and negligent misrepresentation, to the point that Jim Tsunis' and Enrico Scarda's Northwind Group was "unable to make timely payment to its subcontractors and materialmen which, therefore, resulted in a loss to plaintiffs Tsunis and Scarda's reputations as responsible real estate developers."
Liberty Meadows , and according to the LIBN report, the rest are scheduled for opening late in the summer.
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