NSW building certifier Watson Oldco looks set to follow Melbourne builder Hickory and avoid a possible raft of claims over combustible cladding by putting a business unit into administration.
Watson Oldco, part of the Lendlease-led consortium that is building the new Western Sydney Stadium in Parramatta and redeveloping the Allianz Stadium next to the Sydney Cricket Ground, went into voluntary administration last month. In a report to creditors, administrator Peter Krejci of BRI Ferrier said the move was “largely the result of uninsured exposure to potential claims” related to buildings with combustible cladding.
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