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Firms braced for adjudications

NEWS

THE FIRST decision in a series of adjudications between Multiplex and Wembley National Stadium will be made later this month.

Multiplex has already told WNSL that it will pursue legal proceedings for its entitlement to extensions of time plus 'other respects, including WNSL's acts and omissions which are preventing Multiplex's ability to achieve practical completion'.

The firm is shelling out around £1 million for every month it is on site.

In its statement to the Sydney Stock Exchange, the firm added: 'Delays in the client works give rise to entitlements in favour of Multiplex for extensions of time and financial entitlements.'

Multiplex is paying WNSL up to £38 million in liquidated damages after it failed to get the stadium open for this year's FA Cup Final.

WNSL is due to make its first £40 million repayment on a loan to its bankers at the end of September. But one source said: 'The adjudications will determine whether WNSL is entitled to take liquidated damages.

'No-one wants to lose. Multiplex because it would damage any future legal action and WNSL because it would be left with a shortfall on its repayment with no money coming until next year.'

Multiplex alleged that the stadium is late because the client made over 600 design changes. It is drawing up a £150 million claim.

WNSL has counter-claimed.