NC residents awarded $162.5 million for dam problems

 — North Carolina residents whose community dam was damaged by Hurricane Matthew and later breached by the state have won a $162.5 million judgment against the corporation that owns it.

The judgment against Woodlake CC Corp. alleged harm by the corporation’s failure to maintain the dam. The company failed to meet a deadline to drain or repair the damaged dam last June, forcing the state to step in, leaving the 1,200-acre lake mostly empty.

Residents sued in October stating corporation to whom they pay dues continues to advertise “lakefront” lots. The lake has become a “quagmire.”

The corporation failed to respond to the lawsuit.