Healthcare Support(Newcastle)FinPLC Phase 8 completion delay further comment (4309G)
20 Novembro 2015 - 9:00AM
UK Regulatory
TIDM73FU
RNS Number : 4309G
Healthcare Support(Newcastle)FinPLC
20 November 2015
We refer to our announcements dated 23 May 2014, 4 August 2014,
28 October 2014 and 28 November 2014
The Independent Tester, Faithful & Gould Limited
("F&G"), has yet to issue a completion certificate in respect
of phase 8 of the project. Separately Healthcare Support
(Newcastle) Limited ("HSN"), Laing O'Rourke Construction Limited
("LOR") and Newcastle Upon Tyne Hospitals NHS Foundation Trust (the
"Trust") have attempted to settle the dispute through a formal
mediation process as required under the Project Agreement. As the
formal mediation did not resolve the dispute HSN issued proceedings
on 17 November 2015 under Part 7 of the Civil Procedure Rules
against the Trust and LOR in accordance with the provisions of the
Project Agreement and the Construction Contract.
Given the longstop date under the Project Agreement is 28
October 2014 the Trust, HSN and LOR entered into an agreement with
effect from 1 February 2015 whereby the Trust has undertaken to
provide 7 days notice of an intention to terminate the Project
Agreement. The notice period will allow HSN adequate time to seek
an injunction from the Court to prevent a wrongful termination.
HSN continues to engage with the Majority Creditors.
Ends
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November 20, 2015 06:00 ET (11:00 GMT)
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