VERO - Mainzeal update

Under the AMP banner, VERO have released the following statement assuring customers that rebuilds and repairs will continue as scheduled (original is here). Domestic customers are not affected by the Mainzeal problem.

Following the announcement that Mainzeal Property and Construction Ltd has been placed into receivership, we met with receivers PWC to discuss the implications for our Christchurch customers. 

The MWH Mainzeal joint venture is a separate legal entity, and distinct from Mainzeal Property and Construction Ltd.

There are two partners in the joint venture: MWH Global and Mainzeal. Our arrangement with the joint venture allows MWH to continue to provide program management services for our customers in the event that Mainzeal are unable to. MWH have already stepped up their efforts to ensure the program remains on schedule.

We can confirm that customers with reinstatements currently underway will continue as planned.

The small number of commercial customers who may be impacted by this issue have been contacted and we will continue to work with them until their reinstatement is complete.

No domestic customers are affected.

We are committed to delivering on our reinstatement schedules and anticipate that this will not affect our steady progress.

We will continue to keep you updated as we get further information.

Regards

Jimmy

Jimmy Higgins | Vero EGM Earthquake Programme