Wembley contractor Multiplex and M&E firm Phoenix Electrical have struck a deal to complete crucial electrical works on the site, ending a pay row that had jeopardised the final stages of the project.
The deal, under which Phoenix has sold some parts of its contract back to Multiplex, has given the firm sufficient funds to continue most of its work on the stadium. Multiplex has also brought Beaver Management Services back on site; the labour agency had walked 250 of its electricians off site last month as a result of the row.
It is understood that Multiplex has formally appointed electrical company TB Worrall to carry out the work relinquished by Phoenix. Phoenix will carry out testing and maintenance work.
A Multiplex spokesperson said the firm would not discuss its commercial arrangements. Phoenix Electrical was unavailable for comment.
Meanwhile, it has emerged that fire alarm specialist AR Security, which quit Wembley over payment difficulties in February, has gone into liquidation. The firm went into liquidation at the end of April, and new company, AR Security Systems, has been set up in its stead.
AR Security had been installing vital security and smoke alarm systems before it quit the project. When it left, a source close to the firm told Building that AR had "no choice" but to leave, as it would go bankrupt if it didn't get a settlement on money it claimed it was owed by M&E contractor Honeywell.
The verdict on the £50m High Court battle between Multiplex and steel firm Cleveland Bridge is due to be announced next week.