Court Ruling May Force AMEC To Bid for Times Project Steel
Much of the structural steel fabricated for the new New York Times Co. headquarters in Manhattan can be sold at auction, a New Jersey Superior Court judge ruled March 17. The court order allows the liquidation trustee for Interstate Iron Works Corp., the fabricator-erector that shut down three days before Christmas, to sell the steel to the highest bidder at an auction scheduled for March 23-24 in Whitehouse, N.J.
The ruling raises the possibility that AMEC Construction Management Inc., the Times projects prime contractor, will be a bidder, say lawyers involved in the matter. A separate 6,000 tons of steel will be auctioned along with Interstates state-of-the-art fabrication shop, cranes, trailers and real estate, says Randy Fridkis, president of Continental Auction Group, North Palm Beach, Fla.