Statement from Auckland Trotting Club
The Auckland Trotting Club has responded to revelations that they have terminated their agreement with Canam Construction to build one of three towers in their commercial development.
"The Auckland Trotting Club confirms that it has terminated the construction contract it held with Canam for the East Gate (Building A) project within the 223 Green Lane West development.
“This is not a decision we have taken lightly. We have undertaken extensive negotiations with Canam to resolve issues relating to the construction contract, but no resolution has been found.
"This is one of the largest brownfield developments currently happening in Auckland. We are committed to delivering this exceptional development as quickly as possible for our committed residents, retailers and wider community.
"Auckland Trotting Club Inc. has acted in good faith and has been proactive in its endeavours to maintain the integrity of its development project in the interests of purchasers and other stakeholders.
"ATC has appointed a replacement contractor, CMP Construction Limited, who has already taken possession of the site. ATC has full confidence in the delivery of the project moving forward.
"Auckland Trotting Club held a special meeting with residents on Tuesday 24 July, and says,
"While some detail relating to the termination of Canam’s construction contract was not able to be divulged due to legal privilege, residents were informed of all matters pertaining to their investment in Building A, and the board is satisfied with the outcome. Specific financial arrangements with residents must remain confidential between Auckland Trotting Club and residents.”
"Auckland Trotting Club wishes to make it clear contrary to any allegations to the contrary that it has complied with its payment obligations under its Contract with Canam."