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Cody Resources LLP

This is a settlement for the Defective Product lawsuit.

Colorado Springs, CO: (Jul-02-07) The city of Colorado Springs brought a lawsuit against Cody Resources LLP, doing business as Gates Land Co., alleging that the developer built a street that has since been considered defective. The stretch in dispute is the Broadmoor Bluffs Drive that sank eight inches since its construction. The case triggered regulatory changes and involved an army of lawyers and a former city attorney testifying against the city.

In a settlement reached, Cody Resources agreed to pay for a complicated repair job that will drive dozens of pilings 5 feet wide and 80 feet deep to prevent the road from sinking again. The repair work is said to have cost Cody $1.55 million, and ends the five year long legal spat. The city will pay $250,000 in engineering costs, construction oversight and right-of-way acquisition for the project. [THE GAZETTE: DEFECTIVE STREET]

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Published on Jul-4-07


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