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Developer of Jersey City's Liberty Harbor Files For Chapter 11

JERSEY CITY-An Attempt to Settle Court Logjam, Says Developer, but JCRA Director Calls Action “Tragic”.

By Antoinette Martin | Updated on April 19, 2012

JERSEY CITY-Peter Mocco, the developer of the huge Liberty Harbor complex in Jersey City has filed for Chapter 11 bankruptcy protection in what he tells GlobeSt.com is a strategic move to break up a court logjam over claims against the property so he can settle and move ahead with construction.

Jersey City Redevelopment Agency chief Robert Antonicello responded to the Tuesday bankruptcy filing with fire and fury, insisting that Mocco’s move is an an unconscionable blow to the city’s rebuilding effort and will have “tragic consequences” for unpaid contractors. Antonicello said numerous small construction businesses, architects and other operators listed as debtors in the bankruptcy filing will be “crushed” and some will never recover.

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