Background I was appointed by the investor to turnaround an under-performing project following a rescue refinancing. The concession to design, build, finance and operate the facility over a 30 year period had an enterprise value of £75m and turnover of £5m pa. The...
The collapse of the construction giant, Carillion, was not a ‘black swan’ event: it was entirely foreseeable and widely anticipated by the financial markets and the industry itself. Three years on we now have a clear picture of how devastating the impact...
Background This 30 year concession was for the design, build, financing and operation of a multi-site schools PFI project in the UK. The project was acquired as part of a large portfolio, the due diligence for which identified a dispute that management representations...
It is a sad fact that major projects go wrong more often than they go right. Examples of broken budgets, vastly exceeded time scales, disputes and general public consternation are legion within the construction industry. But does this need to be the case? We wish to...
The construction industry is notorious for having a high number of corporate insolvencies – and the numbers are almost certainly set to rise following the impact of the coronavirus pandemic. The disruption and financial impact of an insolvency can be devastating...
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