Hong Kong-based developer Circadian Limited launched legal action in March, alleging it had been overcharged for demolition work linked to the industry’s bid-rigging scandal. Reports Contract Journal
Carey-owned Scudder was among ten firms fined almost £60m in 2023 for colluding illegally to rig bids on demolition and asbestos removal contracts.
Circadian’s claim centred on demolition works carried out in 2014 as part of its redevelopment of the Lots Road Power Station in west London.
The case, brought under the Competition Act and filed with the Competition Appeal Tribunal (CAT), argued that the cartel arrangements had inflated the cost of construction services beyond fair market value.
However, an update filed with the CAT this week confirmed that the claim is being withdrawn following a confidential settlement reached between the parties.
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