A Riker Danzig Appellate team secured a crucial appellate victory for Firm client Holtec International on November 30, 2023 when the New Jersey Appellate Division affirmed Judge Robert Lougy’s December 2021 ruling on Holtec’s summary judgment motion to compel the New Jersey Economic Development Authority to deliver tax credits that the EDA had promised to Holtec. The case arose from the EDA’s award of $260 million in tax incentives to be paid over 10 years to induce Holtec to build a $300 million manufacturing plant and technology center in Camden, New Jersey. After Holtec built the plant and hired hundreds of people, the EDA refused to pay the tax incentives, claiming that Holtec made material misrepresentations on its application.
In a 21-page per curiam decision, the Appellate Division affirmed Judge Lougy’s summary judgment award in an Opinion upholding Judge Lougy’s analysis that Holtec had not made misrepresentations. Heading Riker’s appellate team were Lance J. Kalik, Michael P. O’Mullan and Charles B. McKenna. Associates Austin W.B. Hilton, Corey L. LaBrutto, and Samantha T. Baccaro provided key legal support.
Read coverage about the decision in the Law360 article, “Holtec’s $26M Tax Break Affirmed by New Jersey Panel” (subscription required).
