A New York jury has found The Ritz-Carlton, Grand Cayman, was right when it terminated contractor Flour Daniel last year.
The jury in the Southern District of New York trial between Humphreys (Cayman) Ltd. and Fluor Daniel Caribbean, Inc. awarded the Grand Cayman resort’s developer, Humphrey’s, $28.8 million plus interest.
‘While this is certainly the outcome we expected, we are nonetheless gratified that the jury recognized that we had acted correctly in terminating Fluor for its failure to perform,’ said Michael Ryan, owner and developer of The Ritz-Carlton, Grand Cayman.
The Ritz-Carlton, project-development team terminated Fluor Daniel on 3 March 2004, citing the contractor as unable to complete its work in a cost-effective and timely manner.
In the ensuing months the team had taken over from Fluor as the project’s construction manager.
Despite Fluor Daniel litigation and rebuilding delays owing to Hurricane Ivan, The Ritz-Carlton development team has been unwavering in its commitment to a fall 2005 opening for both the hotel and its private-ownership residences.
‘While this matter had been ongoing, our team in Grand Cayman has been moving ahead with full force and a crew of nearly 900,’ said Mr. Ryan.
‘We are on schedule to turn over the resort to The Ritz-Carlton Hotel Company, LLC, for a late-fall opening, and we intend to deliver on our promise to provide them with a world class facility.
‘The Ritz-Carlton has already begun the selection process for the 1,000 ladies and gentlemen who will work at the resort and bring a new level of elegant service to Grand Cayman,’ he said.
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