Multiplex statement casts shadow on Wembley

In a statement to the Australian Stock Exchange on Monday, Multiplex said the project would not be completed until March 2006, three months later than expected.

The contractor said it had “received an internal report that indicates that the margin position on the Wembley project may have deteriorated significantly”.

Industry sources claimed that the contractor would struggle to recoup its losses through launching claims or legal actions against subcontractors.

One industry expert said: “There will be some monies from subcontractors and designers but it’s nothing like the overall loss on the job. They can embark on an acceleration programme but the question is whether the subcontractors will play ball.”