Webuild deal revives Clough, eyes on lump sum flaws
Liam WalshReporter
The administrators of Clough say the construction group’s collapse has thrown a spotlight on the perils of head contractors shouldering all the risk with fixed-price contracts in big projects.
Additional flexibility in contracts was needed, and project owners and contractors should adopt an approach of discussing problems instead of resorting to legal tactics from the outset, the Deloitte administrators said.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
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