Wembley contractor Multiplex and client Wembley National Stadium Limited this week called off their first High Court appearance amid growing efforts to sort find an out-of-court settlement.
The case is being brought by WNSL in an attempt to overturn an adjudication ruling that it must pay £17m to Multiplex. Building understands that the case has been rescheduled to take place in a fortnight’s time.
It is understood that the two sides agreed to postpone the clash, which had been due to take place yesterday, at the last minute, in an attempt to broker a deal.
A source close to the case said: “There are meetings happening. Both sides want to consider their options. Going to court is seen as a worst case scenario.”
It is understood that WNSL and its owner, the Football Association, are now under less pressure to obtain money from Multiplex after negotiating a deal with its banks.
The two sides have also held a series of private discussions with Labour peer and government troubleshooter Lord Carter.
There are meetings. Going to court is seen as a worst case scenario
Source close to the case
The FA this week denied reports that it was prepared to sell part of its stake in the stadium to developer Quintain in an attempt to resolve financial issues and advance work on the project.
Building understands that Quintain is in line for facilities management and security contracts at the stadium.
Meanwhile, the financial settlements expected after Multiplex's High Court victory against former steel contractor Cleveland Bridge could be delayed until next summer after Cleveland Bridge asked for an extension of time to respond to damages claims issued by the contractor.
If the decision, expected later this month, goes in its favour, it could push the date of the damages trial back from next March until next summer.