Housing association Hyde Group has won £10.8 million in damages and costs from a contractor after a dispute over defective cladding. Construction firm Mulalley was ordered to pay damages and costs to group subsidiary Martlet Homes in a case relating to tower blocks in Gosport, Hampsh
Hyde Group
An English housing association, Martlet Homes, has won an £8 million claim over defective cladding in the first High Court case of its kind since the Grenfell Tower fire. Martlet Homes, which is part of the Hyde Group, said that the decision would support other tenants and flat-owners in futur
Social housing tenants are being enlisted to help the Hyde Group with a range of jobs such as shortlisting and interviewing potential contractors.
Five large housing associations in England have had their credit ratings downgraded by ratings agency Standard & Poor’s (S&P). L&Q, Hyde, Notting Hill Genesis and Guinness all saw their ratings decreased from A+ to A as S&P highlighted increased sales risk at the associations.
Housing associations L&Q and the Hyde Group have agreed to abandon their merger plans after months of negotiations.