References

Context

As part of an ICC arbitration between a Turkish contractor and an Algerian project owner, Argos Construction acted as an independent expert.
The project under arbitration is located in Algeria and involves a mixed development combining new construction and refurbishment to create a real estate complex including a shopping center, a hotel, office spaces, an underground parking facility, and a conference center.
The total construction cost amounts to €100 million, with an initial execution period of 27 months.
The project experienced a delay extension of 22 months, and the parties were unable to determine their respective responsibilities.Describe the project context in 3 to 5 sentences: nature of the project, stakeholders, issues encountered and the value added by Argos Construction.

Mission

Argos Construction was appointed by the contractor (the respondent) as an independent expert to provide an opinion on the causes of the project delays and their financial consequences.

Objectives

• Analysis of contractual, technical, and administrative documents
• Review of contemporaneous project records
• Preparation of a report analyzing the causes of delays and their financial impact
• Review of opposing expert reports and preparation of rebuttal reports
• Participation in arbitration hearings to support our findings

Stakes

• €30 million in additional costs and damages claimed by the contractor
• €40 million in damages claimed by the project owner

Context

Describe the project context in 3 to 5 sentences: nature of the project, stakeholders, issues encountered and the value added by Argos Construction.

Mission

Restructuring

Objectives

• Review of contractor procurement procedures (tendering, contract award ad execution);
• Verification of works accounts and identification of discrepancies between initial contracts and final settlement certificates (modifications) ;
• Identification and classification of anomalies by project and by phase (Tendering, Contract Execution, Works execution);
• Assessment of financial stakes and cost management effectiveness.

Stakes

• Portfolio of 9 real estate projects (offices and retail) across Francen for a total contract value of 12 m€;
• Anomalies identified on over 50% of the audited contract value;
• Governance challenges for the client.

Result

Two-phase audit report covering 100 works contracts, highlighting financial anomalies on 50% of the audited amount (6,2m€). The findings enabled our client to identify dysfunctions in their internal procedures and implement the necessary adjustments for improved management of the real estate portfolio.

Context

The project involves the construction of 3 buildings comprising 121 residential units and 2 commercial units, together with 38 villas, located in Ajaccio.
Works commenced in early 2023 before being suspended in July of the same year.
Argos Construction intervened, from late 2025, in the capacity of ad hoc administrator to assist the guarantor (GFA) in fulfilling its obligation to complete the works.

Mission

E.g.: Contract Management

Objectives

• Take all decisions necessary for the management and completion of the programme;
• Redefine the programme;
• Assess the works and interventions remaining to be carried out;
• Prepare a projected financial statement;
• Submit the amended building permit application;
• Procure and supervise, acting as substitute project owner specifically responsible for completion, all necessary works;
• Audit the purchasers' accounts;
• Arrange for formal certification of programme completion;
• Organise the handover and acceptance process;
• Settle the final accounts with the contractors.

Stakes

• Duration of remaining works: 40 months;
• Value of remaining works: ~€ 20 M excl. VAT.

Context

A company specialising in electrical works (high and low current), Heating, Ventilation and Air Conditioning (HVAC), electrical and climate engineering maintenance, and fire protection — primarily for private clients (commercial, industrial and residential real estate) — entered into court-supervised rehabilitation proceedings with an asset disposal plan.
The company's assets were transferred and the company was subsequently liquidated.
Argos Construction intervened (i) in the context of the asset transfer, by carrying out a cut-off assessment of the works executed by the transferred entity, and (ii) in the context of the liquidation, by settling the accounts of outstanding contracts.

Mission

E.g.: Restructuring

Objectives

• Carry out a cut-off assessment;
• Conduct site surveys to determine the progress of works executed by the liquidated entity;
• Analyse any disputes raised by clients and proof of debt filings;
• Review or establish final accounts with subcontractors;
• Review accounts relating to receivables financing, repayment of advance payment guarantees and interim payment retentions;
• Obtain releases of any outstanding bonds and guarantees.

Stakes

• Total accounts receivable: €4.1M

Result

Amount recovered: €3.2M

Context

Six months after start-up, the earthworks/utilities contractor was being blamed for delays and held responsible for every site contingency. By bringing the issues back to the facts and clarifying each party's rights and duties, Argos Construction's intervention secured a time extension with no delay penalties.

Mission

Contract management

Objectives

• Contractual follow-up and traceability of disruptions
• Management of deadlines and service orders
• Training of the team in good contractual practice

Stakes

• 23-month time extension on an initial 25-month schedule
• €0.8M of additional compensation on a €3M contract

Result

Time extension formalised (delay penalties lifted) and settlement of €0.4M

Context

Engaged to audit the contractual management database of a tramway project already showing 18% cost overruns and delays threatening penalties, Argos Construction exposed process and methodology weaknesses. By demonstrating that the contractor was not solely responsible for the delays, penalties were avoided and a claim for additional compensation could even be presented.

Mission

Audit of the contract information system

Objectives

• Analysis of contract documents and information sources
• Review of pricing and claim topics
• Status report with recommendations

Stakes

• Justification of cost overruns of €6M on a €34M contract

Result

Team awareness raised; tools improved and rolled out for tracking disruptions, enabling a claim for additional compensation

Mission

Critical path analysis — hotel complex (3 hotels, 800 rooms, 22 ha)

Objectives

• Contractual and technical delay analysis
• Compliance issues analysis
• Hearing preparation and advocacy

Stakes

• Delay of at least 5.5 months on an initial 14-month schedule
• €8M plus interest

Result

Reports submitted; amicable settlement reached

Context

Faced with severe difficulties marketing second-home developments in the middle of a downturn, the developer needed reliable completion forecasts for its 14 programmes and a financing plan for its banks. The engagement led to a winding-up followed by a programme-by-programme rescue.

Mission

Diagnostic

Objectives

• Completion forecasts for the 14 ongoing programmes with financing needs
• Project management support to continue the works

Stakes

• €30M of commitments across 10 banks

Context

Brought in on a project already running twelve months late, Argos Construction established a clear view of the situation and prepared the elements of the claim, leading to financial compensation awarded by the court. The case illustrates what proactive contract management and the right tools could have prevented.

Mission

Contractual analysis and claim

Objectives

• Analysis of contract documents and the technical file
• Review of pricing and assistance with drafting the claim memorandum
• Assistance with defending the claim

Stakes

• 390 days of time extension on an initial 22-month schedule
• €174,940 on a €1.9M contract