HA welcomes High Court's judgment on recovery of damages
******************************************************** The following is issued on behalf of the Housing Authority:
The Housing Authority (HA) has welcomed the judgment handed down today (September 2) by the High Court, which ruled in favour of the HA for recovery of damages from B+B Construction Co Ltd (B+B) and AXA Versicherung AG (AXA) arising from excessive uneven settlement of foundations at Tin Shui Wai Area 31 Phase I (Tin Chung Court).
"The award of about $550 million is encouraging," a spokesman for the HA said, adding that the HA would commence the required process to recover the money as soon as possible.
"The judgment also helps the HA to send a clear and loud message to the industry that the Authority is determined to go after the wrongdoers to the end, with a view to protecting the interest of the public and that of its own," he said.
In July 1999, excessive uneven foundation settlement was found in two of the six Home Ownership Scheme blocks under construction at Tin Shui Wai area 31 Phase 1. Foundation remedial works, commenced in May 2001, were completed in mid-2003.
B+B is the piling contractor and AXA is the insurer of B+B.
******************************************************** The following is issued on behalf of the Housing Authority:
The Housing Authority (HA) has welcomed the judgment handed down today (September 2) by the High Court, which ruled in favour of the HA for recovery of damages from B+B Construction Co Ltd (B+B) and AXA Versicherung AG (AXA) arising from excessive uneven settlement of foundations at Tin Shui Wai Area 31 Phase I (Tin Chung Court).
"The award of about $550 million is encouraging," a spokesman for the HA said, adding that the HA would commence the required process to recover the money as soon as possible.
"The judgment also helps the HA to send a clear and loud message to the industry that the Authority is determined to go after the wrongdoers to the end, with a view to protecting the interest of the public and that of its own," he said.
In July 1999, excessive uneven foundation settlement was found in two of the six Home Ownership Scheme blocks under construction at Tin Shui Wai area 31 Phase 1. Foundation remedial works, commenced in May 2001, were completed in mid-2003.
B+B is the piling contractor and AXA is the insurer of B+B.
Ends/Friday, September 2, 2005
Issued at HKT 16:31
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