from syringe Sydney - Tuesday - June 6: (RWE Aust Business News) - Multiplex Ltd (ASX:MXG) said the English High Court has handed down a judgment in respect of the preliminary issues in the case of Multiplex versus Cleveland Bridge (CBUK) - the former steelwork subcontractor at Wembley Stadium.
This followed the conclusion of a month-long trial. The key findings were that CBUK unlawfully repudiated the steel sub-contract by abandoning the project in August 2004. CBUK had claimed that Multiplex had repudiated the sub-contract. Following the judgment, Multiplex will pursue damages and other remedies against CBUK.
Unless previously agreed between the parties, these sums will be determined by the Court.
It is anticipated that the relevant court hearing will be in January 2007.
Previous market guidance for Multiplex Group full year 2006 earnings is not changed by the judgment.
Multiplex shares last traded at $3.30.
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