Lockheed Wants Proof Airport Can Afford Land
An attorney for Lockheed Martin asked the Burbank-Glendale-Pasadena Airport Authority for documents Tuesday showing whether it could afford to pay Lockheed Martin for the 130-acre Plant B-6 property.
A Burbank jury ordered the Airport Authority to pay $86 million as part of a judgment it reached last month. But Lockheed Martin attorney Scott F. Campbell asked commissioners for financial statements to demonstrate whether they could cover their costs, which he said could include as much as $20 million in attorneys’ fees and interest.
Airport spokesman Victor Gill reiterated that the Airport Authority could afford to pay the judgment, but had not decided whether to pay because of uncertainty over Burbank’s willingness to approve the purchase.
In other business Tuesday, the authority voted 5-3 to put off selection of a new president. The motion by Pasadena Commissioner Chris Holden delays a vote for new officers until October or such time as the authority fills the vacancy created by the resignation of Glendale commissioner Carl Raggio last week.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
