Business case
The Panamanian authorities decided to build a third set of locks in the Panama Canal to double its freight capacity. In this context, Panama hired a European consortium for the project, which then outsourced a significant portion to our client. However, the project faced issues from the outset, delaying the start of our client’s construction.
Our expert report assessed the time-related costs, non-time-related costs and the damage caused by the consortium’s actions as well as an assessment of several external factors such as adverse weather conditions and labour cost inflation. Our findings were presented to both parties and their advisers in the context of an amicable mediation, which led them to find a temporary settlement and allowed the project to continue.
We were engaged to quantify the damages for our client, which was on the verge of bankruptcy. We performed focused as-planned vs as-built and quantum valuation analyses, aiming to assess the damage resulting from the critical path delay.