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Hualapai Nation Ordered To Pay $28.6 Million To Grand Canyon Skywalk Developer For First Four Years Of Management Fees

Tratos says further that SNW does not have sufficient resources to pay the U.S. District Court judgment or the value of GCSD's rights over 35 years, as the parties had agreed.  He adds, " David Jin, owner of GCSD, has no animosity against the Tribe. He knows that he invested $30 million of his own money to build the Skywalk and that the way he will recoup that investment and his future contractual rights is to resume operational control of the Skywalk." 

The dispute between GCSD and the Hualapai Nation centers on revenue generated by 370,000 tourists per year visiting the marvelous glass platform, which was created and built by GCSD. While GCSD has met all of its obligations in the construction of the Skywalk and associated visitors' center, the Hualapai tribe failed to provide power, water and wastewater disposal preventing the completion of the visitors' center. Consequently, GCSD could not complete construction, and that part of the project remains unfinished.  While the Hualapai have a completed and functioning architectural masterpiece in the Skywalk since March 2007, the Tribe has not shared any revenue as agreed and has locked the developer out of the property.

SOURCE GrandCanyonSkywalkFacts.com

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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