H. G. Prizant & Co. v. Gust K. Newberg Construction Co.

This action was brought by plaintiff, H. G. Prizant and Company, debtor in possession under chapter XI of the Bankruptcy Act (11 U.S.C. secs. 701 — 799 (1964)), to recover from defendant, Gust K. New-berg Construction Co., additional expenses incurred in the installation of the ventilation system of the Chicago Civic Center. Various surety companies were also joined as defendants. There was a stipulation of fact including an arbitrator’s award to plaintiff of $550,000 for extra expenses incurred. The trial court determined, however, that defendant’s payments to plaintiff exceeded the contract…