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Article: Washington Group Law Suit Seeks to Protect Creditors' Claims From Raytheon Company.
- Article from:
- Business Wire
- Article date:
- August 2, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
BOISE, Idaho--(BUSINESS WIRE)--Aug. 2, 2001
Washington Group International, Inc. announced today that it has filed a suit against Raytheon Company seeking cash adjustments and the elimination of liabilities assumed by Washington Group that could total approximately $1.5 billion.
The adversary proceeding was filed in United States Bankruptcy Court for the District of Nevada in Reno in connection with Washington Group's purchase from Raytheon Company of Raytheon Engineers & Constructors (RE&C) in July of 2000. Washington Group alleges that, because of hidden liabilities and overstated assets, RE&C was insolvent at the time of ...