Carter Holt stumps up less than $40m in leaky schools deal

Paul McBeth
Wed, 27 Oct 2021

Schools have contended with leaky buildings for years. (Image: Getty)
Schools have contended with leaky buildings for years. (Image: Getty)
Paul McBeth
Wed, 27 Oct 2021
Carter Holt Harvey paid less than $40 million to the Ministry of Education to end years of litigation over whether its Shadowclad product used in more than 800 school buildings was defective.The ministry is still declining to say how much it settled for or the specific terms of its deal with Carter Holt, but its annual report shows a $35.5m settlement to pay for fixing leaky school buildings contributed to its operating surplus in the June 2021 year.That settlement accounted for the bulk of the $38.3m of revenue it recognised from weathertightn...

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