- Monadelphous Group (MND) is served a claim and statement of claim in the Supreme Court of Queensland by UnityWater
- The claim is against MND’s subsidiary, Monadelphous Engineering (ME), for $80 million relating to a contract
- ME are denying the proposed losses in Unity’s claim and are planning to pursue counterclaims
- MND reports the claim will have no “material impact” on FY23 results
- Shares are trading down at 0.61 per cent, trading at $13.09 at 11:24 am AEST
Engineering company Monadelphous Group (MND) has been served a claim and statement of claim in the Supreme Court of Queensland by Northern SEQ Distributor – Retailer Authority, trading as UnityWater.
The claim is against MND subsidiary, Monadelphous Engineering (ME), for $80 million relating to a contract between the two companies.
The deal was entered into by both UnityWater and ME in 2016 for the design and upgrade of Unity’s Kawana sewerage treatment plant on the Sunshine Coast in Queensland.
ME are denying the proposed losses in Unity’s claim and will defend against them as well as pursue counterclaims.
Monadelphous reported the claim will have no “material impact” on the company’s 2023 financial year results.
MND was down at 0.61 per cent, trading at $13.09 at 11:24 am AEST.