Tutor Perini Hit With $42.4M More in Philadelphia Hotel Dispute
Los Angeles-based Tutor Perini faces an additional $42.4 million judgment tied to a contract dispute over its troubled construction of the W and Element hotels in Philadelphia, according to a recent court order.
The latest ruling adds to a $174.6 million judgment issued in April, when the company was found liable for breach of contract on the project. The combined liability now tops $217 million.
While the dispute centers on an out-of-state project, Tutor Perini is one of California's largest general contractors and a major player in public works across the state, from transit to highways. Litigation of this scale can weigh on a firm's bonding capacity and balance sheet, factors that owners and sureties weigh when awarding large California contracts.
Contractors and subcontractors that team with or compete against Tutor Perini on California public jobs should track how the ongoing legal exposure affects the company's financial standing on future bids.
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