Free Pizza

Download your 2 for 1 Pizza Express voucher

Navigation - link to other main sections from here

Skip Navigation

From The Sunday Times
August 16, 2009

Dubai collapse sparks £3bn in legal claims

Heavy fog rolls by high-rise constructions

Iain Dey

The collapse of Dubai’s once-booming construction industry has created a backlog of legal claims totalling almost £3 billion.

Disputes over unfinished contracts and outstanding payments are stacking up in the emirate’s arbitration court, according to Building magazine.

This year, more than 180 claims have been filed, mostly by international contractors. British firms are estimated to be owed at least £400m on contracts in the United Arab Emirates, many of which relate to work for state-backed investment and development firms.

Atkins, the £700m support-services giant, is among the firms to have publicly admitted being owed money in Dubai. Forensic accountants and legal experts are starting to flood in. Price Waterhouse Coopers has moved a team of 20 investigators to the emirate in recent months.

Related Links

Bookmark and Share

Your Comments

have your say

Would you like to post a comment? Please register or log in

Login
Register

Also in Construction & Property

Also in Industry Sectors

construction and property jobs

Second Post

Find the perfect second job from a range of experienced graduate positions

    More industries>

    Money Central

    Grossaktionaer Florian HOMM

    How does your salary compare? The 10 highest paying jobs (and the 10 lowest)

    A post box in central London with a notice informing the public of the postal strike

    e-Poll: Do you trust Royal Mail with your post?

    Podcast

    Anthony Bolton

    Fidelity's star manager heads east

    Anthony Bolton is returning to run a China fund

    Podcast

    Young Lady listening to headphones

    Tune in now to hear Money Talks

    Mark Atherton presents a selection of five Times Money podcasts

    Most Read

    Skip Most Read

    Today

    MOST COMMENTED

    Skip Editor's Pick

    Today

    MOST CURIOUS

    Skip Most Curious

    Today

    Focus Zone

    accenture

    Need to Know:

    Industry sectors news at a glance. Interactive heatmap, video and podcast

    Winter Sports

    Winter Sports:

    Get ready for the winter sports season, with our resort guides and snow reports

    lloyds

    Mapping Business:

    We are backing British business, what is the confidence of the nation and what businesses are succeeding?

    More Reports

    More reports:

    Enjoy further reading from Travel to Fashion, Business to Sport, discover more

    previous next
    Generic photo of a job interview.

    Free CV Review

    Sell yourself! Have your CV reviewed by experts

    Times Health Club

    Join our challenge for February: Healthy Heart

    The Singapore skyline pictured at night

    Business city guides

    Overseas contacts and local business information

    Financial Brochures

    Money symbol on computer key

    Find an IFA

    Find a local independent financial advisor

    A lawyer with gown and wig

    Find a Lawyer

    Cut your legal costs

    Free credit report

    Online credit history with CreditExpert from Experian

    Classifieds 

    Cars

    Skip Cars of the Week

    Porsche Carrera GT

    2006/06
    £POA
    Surrey

    Bentley Continental

    2009
    £114,950
    Derbyshire

    Car Insurance

    The best policy at the
    best price
    Be Wiser Insurance

    Bugatti Veyron Coupe


    £POA
    Surrey

    Jobs

    Skip Jobs of the Week
    LEP GENERAL MANAGER

    Highly competitive six figure
    Nationwide
    Swindon

    Financial Controller

    Competitive benefits package
    Chartered Institute of Builders
    Ascot

    Business Analyst

    Competitive salary + benefits
    NHS Direct
    London

    Chief Operating Officer

    £125K
    Meltwater News
    Nationwide Positions

    Properties

    Need a cash buyer for your home?

    With Part Exchange Crest Nicholson could get you moving.

    Bridges Wharf, Battersea

    Award-winning riverside development, SW11.
    Luxury apartments for sale from £350,000.

    Mayfield Grange, Sussex

    Find out more about our luxurious apartments and houses for sale in the heart of Sussex.

    Edenarc 1800. Fab contemporary 4* ski in-ski out aparts

    for sale in the French Alps
    from E189,000.

    Holidays

    Skip Travel of the Week

    Royal Caribbean Med Sale

    We're offering extra savings on Voyager & Adventure of the seas Mediterranean Cruises fr £549.
    Book by 28 Feb!

    £899: 9 nights Las Vegas, Los Angeles and San Francisco holiday with helicopter flight included!

    Includes 3* accommodation throughout, a 15 minute Apollo night helicopter flight down the Las Vegas strip and United Airlines flights from Heathrow.
    Same break by air costs £189. Valid for weekend travel until 31 Aug 10.

    Great Travel Insurance

    Get covered on your travels with a superb range of policies at great prices
    Visit InsureandGo.com

    Luxury holiday villas in the south of France with pools – save over £500!

    Family friendly villas with Quality Villas. Book with the specialists.


    Place your advert now