re: major must read news. In summary Multiplex sold out of the $10bn Stratford residential project to their partners in the venture the Reuben brothers for $300m who also lent money at 'commercial rates' to Multiplex and were left rights to take an ongoing role.
The landowner has suddenly repudiated and cancelled the contract. There is no projectYou would have to assume that the sale to the Reubens would be conditional on the project going ahead.
Do Multiplex now have a legal obligation to stump up the $300m they were paid.
Very interesting indeed....more to this I reckon.
MXG
multiplex group
