Council swamped by leaky buildings
The country's biggest city council has cried "enough" on leaky building claims and is searching for an alternative to defending them.
Sunday, March 20th 2005, 5:34AM
by The Landlord
The Auckland City Council is understood to be liable for more than $5 million from 70 cases settled so far, though details of most payouts are cloaked in secrecy.A further 1000 claims in Auckland City's patch are lodged with the weathertight homes resolution service alone, and the council expects to be named as a respondent in most.
Other homeowners are going through the courts and while they are fewer in number, their claims tend to be much greater.
Auckland City has paid $2 million settling 20 court cases, and is named in a further 50 before the courts.
"There's no question that if we project forward with what we know about we are into many millions," says the council's acting chief executive, David Rankin.
The council is understood to be liable for up to half of a near-$2 million payout to 26 owners in the West End Apartments in Grey Lynn following confidential mediation
Read More - Opens in a new window
| « Property investors refocus on cash flow | Free Investment Property Showcase Events: Auckland, Wellington and Christchurch » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
