Being the focus of a criminal investigation brings enough unpleasantness, but not acknowledging the fact has now also cost Bovis Lend Lease a $90 million contract.
Bovis was thought to be a frontrunner in a bid for the contract to build a New York high school, but now, by failing to disclose, it has been barred from the process.
Bovis, a wholly-owned subsidiary of Lend Lease, is being investigated by U.S. authorities for payroll and billing irregularities. The outcome of the probe could have ongoing and significant repercussions for Bovis’ ability to win future contracts.
ASX Code: LLC.AX
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For more details on this news story:
- The Sydney Morning Herald: “Bovis Lend Lease loses $US72.7m project”
Tags: ASX News, bovis, Business News, Construction, criminal investigation, Lend Lease
