Zurich: City and Implenia reach agreement in Letzigrund dispute
The construction group Implenia and the City of Zurich have reached an agreement on the outstanding issues and ended pending proceedings in connection with the construction of the Letzigrund Stadium by mutual consent.
Both parties have now reached an agreement on the balance of all claims regarding the pending and threatened new legal proceedings in the Letzigrund Stadium legal case. This also settles the dispute regarding the repayment of the warranty drawn by the City of Zurich and the defect rectification costs claimed by the City of Zurich.
As Implenia writes, the settlement result has already been taken into account in the 2020 financial statements. It has no further negative impact on Implenia's results. With the conclusion of this settlement the legal dispute that has lasted over a decade between the listed construction group and the city of Limmat over the construction of the Letzigrund stadium has finally come to an end. (mr)
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