re: multiplex in head fake piffle. they sold out the trust into another trust to get cash. not much fun for investors in the trust. they face a big class action over their failure to inform the market of the difficulties at Wembley when raising money. the CBUK case will not give them 50m pounds the judge made it clear it was not about liability on the issues.
the major issues over Wembley are not about the design changes and you will find that the Wembley holders have precise notes of all changes insisting that material changes affecting the contract were not undertaken.
mxg has got very cheeky and is full of bull. they had penalties for late finishing and they will be paying those big penalties and major damages if they keep holding up the commencement. mxg is claiming very minor reasons to justify their gross incompetence, negligence and in ability to perform. as the Olympics works get allocated they get no part. they are out of White City and other major developments and in a fire sale of development sites. it is a very sick company with a long litigious history and a reputation for arguing as a strategy. the UK courts will smash them.
In addition I hear that they are struggling to sell of the trust assets here and brokers are desperately seeking investors in the latest fund raiser here. don't fancy their chances for a EU fund.
MXG
multiplex group
