Wrong sections of building destroyed by wrecking companies, suit claims
An investment group has filed suit against the wrecking companies that it claims wrongly destroyed sections of its property.
Green Investment Group claims it owned about 400,000 square feet of buildings and related facilities at 10 Cut St. in Alton when it decided to sell certain portions of its property on July 18, 2008.
Green entered into a sales contract with defendant AGM in which AGM agreed to pay $4 million to acquire some of Green’s property and to demolish certain buildings, according to the complaint filed Aug. 13 in Madison County Circuit Court.
In the contract, Green specified which buildings could be demolished, the suit states.
Later, AGM sold 100 percent of the property it acquired from Green to defendant Alton Recovery, the complaint says. In the sale, the terms of AGM’s original sales contract should have been included, Green claims.
Alton Recovery decided to demolish buildings at the site and hired defendants RMR Group, Titan Wrecking and Environmental and Acme Refining Group to perform the work, according to the complaint.
However, the demolition groups destroyed property not listed in the contract, the suit states.
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