Multiplex scores first at Wembley
Date: 15/9/2006
Author: David Rogers
Source: The Australian Financial Review --- Page: 77
Australian property developer and construction firm Multiplex has scored some valuable legal wins in its Wembley Stadium dispute. The High Court in London awarded the builder Stg17m in early September 2006, on top of Stg5m awarded for another matter just weeks earlier. This brings the total adjudications in favour of Multiplex in two months to more than $A50m. In the latest result Wembley National Stadium Limited was found to have acted incorrectly in deducting late-completion penalties from progress payments rather than the Stg40m bond Multiplex had deposited. Multiplex is expecting another Stg20m in compensation from UK firm Cleveland Bridge, and it has several other court actions continuing
MXG
multiplex group
