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Building company fired from Colchester's Firstsite gallery dissolved
4:00pm Thursday 6th September 2012 in News
THE company fired from building Colchester’s Firstsite gallery has been dissolved.
Banner Holdings was appointed to build what was originally known as the Visual Arts Facility in 2006.
A series of debacles and disputes resulted in the company taking legal action against Colchester Council three years later.
The two parties disputed damage to the gallery, caused when water leaked into the building.
The council sued for £4million and an independent adjudicator found it was justified in firing the Chesterfield-based company.
Banner went into administration in June 2010, with its affairs handled by Bell Advisory.
Council chiefs managed to get back a £1.4million bond.
Mace was eventually appointed to complete the building and Firstsite opened last September.
Bell Advisory confirmed Banner had been dissolved on August 29.
Paul Smith, councillor responsible for business and resources, said: “It draws a line under the construction issues with Firstsite, and enables the management to concentrate on developing it as a tourist attraction.”