Favourable arrangement following extreme cost increase
Construction of two residential towers in Amsterdam. Cost increases due to the pandemic and the war in Ukraine; an agreement reached with an international pension fund.
The Case
One of the Netherlands’ largest contractors built two residential towers in Amsterdam. When COVID-19 and the war in Ukraine caused material and construction costs to skyrocket, the original price agreements were no longer valid. The principal, a large international pension fund, saw no reason to cover the additional costs.
What Was at Stake
The contractor found itself in serious financial trouble. From a legal standpoint, amending existing price agreements is complex and risky—especially when the other party is an international pension fund with a strong negotiating position.
The Strategy
I have built a strong legal case around unforeseen circumstances and translated this into a concrete negotiation strategy. The goal was clear: to reach a favourable settlement without years of litigation.
The result
The contractor received an additional payment, and the financial impact was significantly limited. Costly litigation was avoided. The contractor was able to continue construction.
Result
Practice Areas
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