Big Dig contractor files for bankruptcy
Modern Continental Co. made a Chapter 11 filing in federal bankruptcy court in Boston, alleging the state of Massachusetts had failed to pay it for construction work — work for which the state says it was overbilled. The firm has been paid more than $3 billion for Big Dig work, according to state records reviewed by The Associated Press.
The bankruptcy petition lists debts of $500 million to $1 billion owed to more than 200 creditors, and assets of $100 million to $500 million.
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