Wembley Stadium firms Multiplex and Mott MacDonald have settled their £253M claim against the costs and overruns at the Stadium, it was confirmed today.
The firms appear to have headed the advice of the judge presiding over the case at the Technology and Construction Court. Justice Coulson told the parties in April to settle out of court or face costs likely to be in excess of £74M.
Brookfield was claiming £253M from Mott MacDonald for alleged design failures on the £798M project.
Brookfield brought stadium contractor Mulitplex Construction in 2008.But the parties have now come to an agreement.
“Brookfield Construction and Mott MacDonald as leader of the Mott Stadium Consortium consisting of themselves, Sinclair Knight Merz and Aurecon have settled the legal proceedings between Brookfield and Mott over the design and construction of Wembley Stadium,” said a joint statement.
Construction lawyers said both sides will be relieved to put the project behind them.
“It affects the companies and individuals involved,” said Burgess Salmon partner William Gard. “It’s difficult because reputations are on the line.
The stress imposed on people involved in cases like these are unbelievable.”
The parties will lodge an order with Technology and Construction Court where the formal settlement will be made. This is expected in the next three weeks.
The case is one the biggest even seen by the Technology and Construction Court.