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LAS VEGAS-Turnberry West Construction Inc. will have its licenses suspended for six months as part of a settlement with the Nevada State Contractors Board related to unpaid insulation work on the stalled, $3-billion Fontainebleau development at the north end of the Las Vegas Strip. Work on the project was halted in June after the final-stage lenders withheld $656.5 million, effectively forcing the project into Chapter 11 bankruptcy.

The details of the settlement were not immediately available through the NSCB’s web site. According to a story in the Las Vegas Sun, the settlement involves contracts between Turnberry West and F. Rodgers Corp., which was hired to install insulation for Fontainebleau Las Vegas. It claims it is owed just over $2 million for one contract and just under that amount of another.

Per the settlement, finalized late last month, Turnberry is allowed to continue work on current projects but is prohibited from taking on new jobs, according to the story. In addition, it agreed to resolve undisputed outstanding claims against its license with the NSCB, and to provide a current financial statement for all cash accounts supporting its license limit. To access the full story, click here .

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