Auckland Council lifts leaky homes provision 10%

Wed, 27 Feb 2019

By Jenny Ruth Feb. 28 (BusinessDesk) - Auckland Council has lifted its provision to cover leaky building claims by nearly 10 percent, its first-half financial report shows. The provision was increased by $31 million to $350 million at Dec. 31. “The increase comprises of $63 million revised cost estimates to remediate multi-unit buildings, which have escalated due to more certainty around the costs of remediation, and the inability to share costs with other parties to the claim following their liquidation,” the report says. “This is...

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