Abu Dhabi payment raises hopes for Austin-Smith:Lord

摘要

Financially troubled architect Austin-Smith:Lord has been paid over 20% of money owed by the Abu Dhabi Authority for Culture and Heritage, taking it a step to closer to financial rescue.The architect is trying to broker a deal with its creditors - known as a company voluntary agreement - to allow it to continue trading due to outstanding payments from the authority totalling £11.3m for work on Abu Dhabi's cultural quarter.