Construction and insolvency law case
The dispute pertained to the planning and construction of a huge waste incineration plant in Ireland. Before becoming insolvent, the German company had performed construction work and services, nearly worth a two two-digit million amount. A significant part of these works and services remained unpaid. In addition, the global cooperation (the defendant), being the customer of these works and services, drew on several bank guarantees without being entitled thereto.
The case raised difficult questions concerning construction, cross-border insolvency and banking law.
After several years, the matter could be resolved by means of a settlement, in which the global cooperation (the defendant) agreed to pay a substantial amount for the construction work, rendered services and the unjustified drawdowns of bank guarantees.
The team consisted of Patrik Salzmann and Benjamin Schumacher.
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