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SBD Global/July 19, 2012/Olympics
Security Firm G4S Could Suffer Up to $78M In Penalty Clauses From U.K. Government
Published July 19, 2012
U.K. Sports Minister Hugh Robertson said that the government will activate "penalty clauses in G4S's contract in light of chaotic security arrangements" at the London Games, which could cost the company up to £50M ($78.2M). Robertson also "signaled" that the security firm could lose its £57M ($89.2M) management fee. Robertson: "All the penalty clauses that are in the contract will be activated" (GUARDIAN, 7/18).
A SALUTE: The London TELEGRAPH reported that PM David Cameron during a visit to Afghanistan "saluted the military for 'stepping up to the plate' by filling the gap left by the shamed security firm." Cameron: "Let's be clear, if G4S don't fulfill their contract we will go after them for the money to make sure that they help pay for the military personnel that have been brought in" (TELEGRAPH, 7/18).
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A SALUTE: The London TELEGRAPH reported that PM David Cameron during a visit to Afghanistan "saluted the military for 'stepping up to the plate' by filling the gap left by the shamed security firm." Cameron: "Let's be clear, if G4S don't fulfill their contract we will go after them for the money to make sure that they help pay for the military personnel that have been brought in" (TELEGRAPH, 7/18).
