The company behind Wolverhampton’s failed £300 million Summer Row shopping centre was today awarded just £2 in a major compensation claim against the investors who pulled out of the scheme.

Multi launched the High Court battle for £28 million against the Irish investors who pulled half the funding for the shopping centre. The law suit is the highest compensation claim in Wolverhampton’s history.

The High Court today ruled that the consortium of investors – known as NI Summer Row Unitholder – had breached its contract with Multi.

But Mr Justice Kim Lewison said the company would have actually lost £81m had it carried on and built the 600,000 sq ft shopping centre, anchored by Debenhams and Marks & Spencer, and awarded it just £2.

In a further blow to the Netherlands and Belfast-based developer it was ordered to pay the £900,000 legal costs of the investors it was suing.

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