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Companies scramble to make their compensation deals before deadline

Date Posted: 2009-03-26

Nearly 100 construction companies charged with bid rigging are rushing to negotiate deals with the government before a March 30th deadline that would send their cases to court.

The Naha Summary Court is working with at least 94 companies who were charged with rigging construction bids between 2002~2005, and who want to strike deals after three years of ignoring payment demands. A total of 191 construction companies were charged by the government, which is seeking more than 100 billion in compensation, but 21 have gone bankrupt.

The government will send invoices and payment demands to the companies on April 1st, but settlements with Naha Summary Court before then could reduce the payment requirements by 3~5%. Naha Summary Court has proposed to the Prefecture that those making payment agreements be given reductions be more substantially reduced. The companies are being asked to return 10% of construction contract monies awarded during the three-year period, but the Court is recommending that 10% payment be slashed to 5%.

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