Challenges to liquidated damages: part One
Authors
Citation
Building journal Hong Kong China, Feb, 2003, pp. 64-68
Abstract
Construction contracts in Hong Kong frequently contain clauses which state from the outset how much money the contractor will have to pay the building owner for each day that the project is finished late.
Often in construction liquidations it is necessary to consider the contractor's liability to liquidated damges which are sought to be imposed by the buliding owner for alleged delay by the contractor with the effect of extinguishing any debt owing to the contractor.
This article is in two parts and considers challenges to the liquidated damages provisions which may be raised on behalf of the contractor with a view to maximising the available sum for distribution to creditors.
(1) Time at large
(2) Other common challenges to liquidated damages
(a) Liquidated damages a penalty
(3) And of course the disclaimer
Description
Subject
Type
Article
Format
Date
2003
Language
en