Wednesday , 8 February 2023
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Big legal bills on Sarcoa lawsuit

Financial statements for 2018 released by the Hamilton Waterfront Trust indicate the lawsuit with Sarcoa restaurant had eaten up $316,000 in legal bills to the end of last year. The lawsuit was finally settled this year in August, so the final legal bill will involve another eight months of activity. The lawsuit was commenced when the owners of Sarcoa sued the city for breach of contract over enforcement of noise bylaws at the once posh nightclub. HWT posted an operating loss of $178,000 despite the $2.2 Million it will receive from the city for the early surrender of its lease on the former Discovery Centre. The $2.2 Million is payable in annual installments of $230,000. The Trust received a further $119,000 from the city for its management of a number of waterfront  development projects.

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