Challenges to liquidated damages Part Two
Authors
Citation
Building journal Hong Kong China, Mar, 2003, pp. 78-81
Abstract
Construction contracts in Hong Kong frquently 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 damages which are sought to be imposed by the bilding owner for alleged delay by the contractor with the effect of extingishing 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. Part 1 was published in the February 2003 issue of Building Journal.
(1) There is no loss
(2) Certificate not valid
(3) Conditions precedent not observed
(4) Provisions void for uncertainty
(5) Effect of a successful challenge to liquidated damages
(6) And of course the disclaimer:
(7) Peter Rumgay
Description
Subject
Type
Article
Format
Date
2003
Language
en