Pursuits
Brookfield Loses Trial Bid Over $519,000 Arbitration Award
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Brookfield Residential Properties Inc., a land investor in the U.S., lost a bid for a trial after having been ordered to pay $519,000 to Zephyr Equities & Development LLC in an arbitration for breach of contract, according to statements from the companies and their lawyers.
Zephyr accused Brookfield of violating a contract to develop the 2,000-acre Natomas Project in Sacramento County, California, according to a statement from Zephyr today. An arbitrator ruled in favor of Zephyr in April 2013, and Superior Court Judge Ronald L. Bauer signed a judgment against Brookfield in February, according to the statement.