Industry news portal Construction Enquirer is reporting that a claim by a developer against Carey Group that it was overcharged £2.4 million for demolition work has been withdrawn after both sides reached a settlement.
Hong Kong based developer Circadian Limited launched the action in March claiming it was overcharged for demolition work caught up in the industry’s bid rigging scandal.
Carey owned Scudder was one of ten firms fined a total of nearly £60 million in 2023 for illegally colluding to rig bids for demolition and asbestos removal contracts.
According to Construction Enquirer, an application has been made to withdraw the claim following a confidential settlement between both parties.
As we reported back in April this year, there are fears that this settlement might spark a feeding frenzy among developers and clients that were overcharged in a similar manner.
Read the full story here.
