Water firm AWG says it was misled by tycoon

Water company AWG is taking building tycoon Sir Fraser Morrison to court next week over the sale of his support services firm.

AWG is suing Sir Fraser in the High Court for fraudulent misrepresentation over the sale of Morrison in 2000.

Sir Fraser, who was chair and chief executive of the firm, strongly denies the accusation that he overvalued the performance and assets of the business.

The firm struggled with losses and write-downs of £100m in the first 18 months after the sale.

AWG will seek damages, possibly of around £130m, from Morrison and co defendant former chief operating officer Stephen McBrierty if it wins its court case.