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Coco family lawsuit against GFL dismissed, leaving $80-million from their paving company sale in limbo

Summary by Ground News

GFL Environmental Inc. and a sister company, Green Infrastructure Partners, signed a deal to buy the Coco family's Coco Paving Inc. in December, 2021. Two months before the transaction was set to close, GFL learned that Ms. Coco had pledged the paving company as collateral to secure a large construction loan for her condo project. GFL and GIP negotiated to hold back $80-million of the purchase price but agreed to release it in two stages: $40-million, plus accumulated interest, after the purchase's first anniversary.

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The Globe & Mail

Coco family lawsuit against GFL dismissed, leaving $80-million from their paving company sale in limbo

An Ontario judge has dismissed Jenny and Rock-Anthony Coco’s lawsuit against GFL Environmental Inc.

1 year ago·Canada

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The Globe & Mail broke the news in Canada 1 year ago on Wednesday, March 20, 2024.

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