In New Zealand, Ebert Construction went into receivership recently, hot on the heels of The Fletcher Construction Company’s announcement a few weeks ago that it is closing its vertical construction business. In Australia, there are rumours that some large contractors may also be in financial difficulties.
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What a State: Adjudication and Payment in Australia
Adjudication: a method of dispute resolution intended to provide quick, sometimes rough, and temporarily binding justice to maintain cashflow in an industry well known for payment difficulties throughout the supply chain.
Loved and hated in equal measure but made more complex in Australia by introducing statutory adjudication (along with associated payment protection measures) on a state bystate basis rather that at federal level. Each state or territory has its own specific, and different,adjudication process and procedure.
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This article is for general information purposes only and should not be relied upon in any specific situation without appropriate legal advice. If you require that advice or wish to discuss any of the issues raised in this article, please contact us.