Ex-Dunne Group boss ordered to pay Multiplex £4m

Aaron Morby 6 months ago
Share

Multiplex has won a High Court battle to clawback £4m it advanced to concrete contractor Dunne Building and Civil Engineering before the firm collapsed in July 2016.

The ruling means that owner Gordon Dunne must repay the cash advanced to his concrete frame company by Multiplex as he fought to keep the business afloat and avoid disruption on major London projects.

Dunne was working on nine different Multiplex projects when it started to run into cashflow problems at the end of 2015.

Among these projects was a £32m concrete frame package for Brookfield Multiplex at the 100 Bishopsgate site in the City of London

To try to keep the £70m concrete firm from collapse Multiplex agreed to shorten payment times to Dunne and offset sums due on one project against liabilities on others.

But by early 2016, Dunne B&CE needed a major cash injection to keep it afloat leading Multiplex to advance £4m with an indemnity by Gordon Dunne.

Dunne had argued that the terms of the deal meant that the primary guarantee was on his company with only a secondary obligation on him.

But Multiplex successfully argued that under the terms of the deal it had the right to claim from Dunne personally the £4m sum advanced in the event of the firm falling into administration.

In the ruling, Hon Mr Justice Fraser said: “Regardless of whether he (Gordon Dunne) has sufficient resources to do so – and there is something of a quibble on the evidence before me about that – Multiplex is entitled to summary judgment against him for that sum, together with interest.”

 

Latest news

United Utilities starts £800m network maintenance race

Shortlisted firms to be invited in July to bid for six-year framework
2 hours ago

KeolisAmey JV wins £5bn Welsh rail franchise

Joint venture will deliver £700m south wales Metro electrification project
7 hours ago

Retractable pitch tested at Spurs stadium site

Huge pitch trays and touchline hydraulics in action for the first time
7 hours ago

Builders named for £1.5bn Scottish social housing panel

Robertson, ENGIE, Bancon and Hadden take top honours
1 day ago

Bovis Homes fends off shareholder revolt over pay

Shareholders voted 38% against remuneration report at agm
7 hours ago

Site safety shambles at care home extension

Residents put at fire risk from timber frame scheme. Main contractor now in liquidation
7 hours ago

Wates wins £23m contract with London’s Brent Council

Work to start on Knowles House redevelopment in Harlesden
6 hours ago

Speller Metcalfe wins £18m Coventry Uni job

Speller to start next month on former hospital site at Gulson Road
14 hours ago

GPE to start trio of projects despite London caution

All three projects located next to Crossrail stations
1 day ago

Boost your online presence – join the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
3 weeks ago

Government slammed for not spotting Carillion was in trouble

Carillion bosses talked officials out of highest risk rating
1 day ago

Bouygues tipped for £135m Cardiff innovation campus

Cardiff University close to selecting firm after Kier moved on after pre-construction
1 day ago

Dandara plans 340-flat Bristol build to rent project

Bedminster plan includes a podium and tower at St Catherine's Place
2 days ago

Morrison agrees £59m price for East Ayrshire school complex

New Cumnock school complex incorporates three primary schools and two academies
1 day ago

Welsh towers get cash to replace Grenfell style cladding

Trio of Newport resi blocks get £3m of government funding to remove ACM panels
1 day ago

WSP raids CH2M and Atkins for infrastructure hires

WSP boosts local government transport arm
2 days ago

Galliford Try starts £47m Solihull retirement village

Contractor starts eleventh scheme for ExtraCare Charitable Trust
2 days ago

Sisk confirms next £96m office at Manchester Circle Square

Total orders at Manchester city centre scheme reach £240m
2 days ago

Galliford Try expects further hit from Aberdeen Bypass

Bad weather earlier this year drives up finishing costs on delayed Scottish road
2 days ago

Green light for Manchester’s Old Granada studio revamp

Work to start on studio revamp and new hotel in June
3 days ago

Renew counts cost of gas contracting exit

Renew expects the year ahead to show show growth after acquisition of rail contractor QTS
2 days ago

Drones to move construction materials around sites

Future gazer also predicts floating buildings and 3D printing solving the housing crisis
2 days ago

Forterra to boost brick production with new £95m plant

Materials giant to double capacity at Desford site
2 days ago

Watkin Jones has £900m of student schemes in pipeline

Sector still booming as contractor also continues expansion in build to rent market
2 days ago

Manchester Placefirst targets £110m revenue

Manchester construction arm makes a trio of senior hires
2 days ago

Network Rail names new chief

Andrew Haines will become Network Rail chief in the Autumn
3 days ago

Investment fund acquires M&E specialist VVB

£75m turnover tunnel expert VVB looks to grow in infrastructure sector
3 days ago

GMI wins main construction role on £26m Excelsior Works

Resi deal for Mulbury is latest win for contractor's new North West office
3 days ago

Caddick plans civils start at Kirklees warehouse park

Mirfield site will be built out with seven warehouse and nearly 170 homes
3 days ago

M Group changes private equity owners

European private equity firm takes control of £1bn infrastructure services group
3 days ago

Contractor services