Dec 21 (Reuters) - Watpac Ltd (WTP) :
- Update on dispute with bc iron on nullagine iron ore project (WTP)
- Has been pursuing its outstanding entitlements under the contract since August 2015
- "The board has determined that a conservative accounting position will be taken"
- Efforts to resolve the dispute have been unsuccessful and matter will now be progressed through litigation
- Says Watpac will provide for all amounts previously accrued in relation to this dispute in the group's 31 December 2015 financial result
- Group's underlying financial result for the 31 December 2015 half year will remain unaffected and despite this disappointing contractual dispute
