Leighton owed money on Dubai projects

November 27, 2009

Construction firm Leighton Holdings says it is owed money on a few separate Dubai building projects, but the situation is not new and that it is confident of recovering the money.

"We are confident we will recover the moneys owing but the timing is uncertain," a company spokesman said today. He did not give details on the size or the nature of the debts owing.

He added that the halt in payments was as a result of the global financial crisis and had been discussed at the company's annual results in August. The projects have not been named.

Leighton is majority owned by German construction group Hochtief.

Reuters