The settlement was paid to Harmon CFEM Facades after the company had alleged a breach of procurement regulations. A High Court ruled the Commons had acted unfairly against the building contractors in the way it let the tender for the windows and bronze cladding.
The five-year legal battle cost the House Pounds 4.6m in legal fees, while the final out of court settlement was Pounds 5.26m, after Harmon’s originally claimed Pounds 17.5m in damages.
The NAO report also revealed the House was in talks with London Underground Ltd to recoup payments of over Pounds 3m in compensation made to contractors after the late handover of the Portcullis site.
It is alleged that London Underground’s delay in its work on the Westminster Tube station prevented contractors from beginning their work on Portcullis House.
The new parliamentary building is estimated to have cost Pounds 223m, and is the most expensive office block in Britain for its size.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union