The Guild settles

The Guild owners’ corporation and its building management have settled a legal dispute over long-term contracts.

The case, which was expected to start in the Supreme Court on November 9, was settled during the week prior.

While the details of the settlement have been kept strictly confidential, Southbank Local News understands that both parties reached an acceptable outcome.

The case was heading for the Supreme Court with claim and counter-claim over what were fair and reasonable rates and contract periods.

Also in dispute were the processes used when the OC was first established and contracts were awarded.

The OC was alleging improper practice when establishing the contracts but the developer and contracted management companies were denying any impropriety.