Carey owned Scudder was one in every of ten corporations fined a complete of practically £60m in 2023 for illegally colluding to rig bids for demolition and asbestos elimination contracts.
Hong Kong based mostly developer Circadian Restricted has now launched authorized motion in opposition to Carey Group claiming it was overcharged by £2.4m for demolition work in 2014 at its scheme to redevelop Heaps Highway Energy Station in west London.
A declare underneath the Competitors Act lodged on the Competitors Enchantment Tribunal mentioned “the Cartel Preparations precipitated the worth of development companies to be increased than they might in any other case have been.”
The mother or father firm of Circadian is CK Asset Holdings Restricted who’re listed on the Inventory Trade of Hong Kong with a market capitalisation of £10.9bn.
One trade professional mentioned: “There will probably be lots of people protecting a nervous eye on how this pans out as a result of it may set a precedent for different builders to launch related claims.”
