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Construction disputes jump
Construction related disputes climbed by more than a third during the credit crunch, according to new figures published yesterday, as the downturn took its toll on one of the industries hardest hit by the financial crisis. According to research by legal information business, Sweet & Maxwell, the number of construction disputes that went to arbitration rose by 31 per cent during 2009. Last year, there were 1,018 construction related applications made to dispute resolvers, marking a sharp rise from 2007 when 779 applications were made. A housing slump and dwindling demand for commercial space were some of the factors leading to the rise in disputes as developers came under pressure to reduce costs, according to the figures.