VIRGINIA BEACH, Va. (WAVY) — The trial for a lawsuit filed over a cancelled arena deal in Virginia Beach is expected to happen next month.
Mid-Atlanic Arena LLC filed a suit in January 2018, seeking $165 million in damages from the city. The company said that figure would cover the “significant investment” of developing and financing the arena as well as lost future profits.
Mid-Atlanic planned to build a $245 million arena by the Virginia Beach Convention Center. The deal died in November 2017, when city leaders said Mid-Atlanic did not meet certain requirements and deadlines.
In the lawsuit, Mid- Atlantic argued it met all financial deadlines and the city damaged its reputation by pulling out of the project.
City leaders say they are confident in their actions to cancel the deal and plan to defend the decision.