References

Context

As part of an in bonis acquisition, Argos Construction was engaged to assess the ongoing projects and forecast margins of this company specialising in structural works on historic monuments, in order to enable a fair valuation of the disposal.

Mission

External review of ongoing matters

Objectives

• Review of organisation and cost structure
• Review of forecast margins and budget

Stakes

• €9.5M revenue, 60 employees

Context

The conversion of this Parisian building into a 5-star hotel (€6M, 14 months) suffered a 7-month delay across all trades, entirely due to late input data and constant changes outside the joint venture's control. Argos Construction prepared the claim memorandum for €1.2M of cost overruns, while the Owner intends to apply €860k in delay penalties.

Mission

Preparation of a claim for additional compensation

Objectives

• Analysis of contract documents and contemporaneous records
• Analysis of cumulative delay impacts
• Quantification of cost overruns and drafting of the memorandum

Stakes

• 7-month delay on an initial 14-month schedule (+50%)
• €1.2M on an initial €6M contract (20%)

Mission

Technical advisor to the Owner — amicable expertise

Objectives

• Analysis of the general contractor's claim files
• Review of pricing and conclusions

Stakes

• 6-month delay on an initial 56-month schedule
• €20M on a €300M contract.

Results

Amicable negotiation.

Context

Engaged to validate the opportunity of acquiring a company with complementary activities, Argos Construction assessed costs before and after the takeover and prepared the budget forecast based on the existing order book.

Mission

Technical assistance — review of the situation during acquisition

Objectives

• Review of organisation and cost structure
• Review of forecast margins, customer accounts and budget

Stakes

• €5.5M revenue, 37 employees

Context

With the works completed but acceptance refused due to leaks, the joint venture had presented a €9M claim covering 17 months of delay. Argos Construction's analysis distinguished 11 compensable months, 3 excusable but non-compensable months and 3 months attributable to the contractor, leading to partial admissibility of around €500k.

Mission

Report in response to the joint venture's claim memorandum

Mission

Review of financial claim files — dam

Objectives

• Analysis of contractual elements and pricing of cost overruns
• Drafting of the memorandum and contract-management follow-up

Stakes

• 20-month delay on an initial 33-month schedule
• €78M on a €159M contract.

Results

€28M for a recommendation between €28M and €40M.

Context

Threatened with the withdrawal of bank facilities following a drop in business and weak management control, the company entered receivership. The Independent Business Review and forecasts prepared by Argos Construction for its seven subsidiaries clarified the situation and supported the divestment.

Mission

Ad hoc mandate then receivership

Objectives

• Preparation of forecasts and control of receivable mobilisations
• Review of customer accounts and opinions on contract terminations

Stakes

• €69M, 60 employees

Context

Faced with a €7M penalty demand from the Owner, the contractor was claiming €16M of additional compensation. Argos Construction's detailed analysis showed that the changes imposed by the Owner itself were the cause of the delays, allowing the penalties to be set aside.

Mission

Preparation of a claim for additional compensation — general account

Objectives

• Contractual analysis and reconstruction of disruptive events
• Delay analysis and financial impacts
• Drafting of the additional-compensation memorandum

Stakes

• Phase 1: 14-day delay on an initial 147 days; Phase 2: 35-day delay on an initial 91 days; Phase 3: 0 days on an initial 112 days
• €8M on a €50M contract

Results

Out-of-court settlement

Mission

Claim for additional compensation

Objectives

• Quantification and presentation of damages
• Assistance with defence and participation in meetings
• Drafting of supplementary memoranda

Stakes

• 49-day delay on an initial 8-month schedule
• €7M on a €51M contract.

Results

To come.