Negotiations about withdrawing from project with great financial value
The Italian turnkey contractor of the Copenhagen City Circle metro line wanted to terminate a sub-supplier agreement with contractor MT Højgaard. Holst, represented MT Højgaard in the negotiations that lasted for months and which represented a significant financial value.
When building the City Circle line (phase 4 of the Copenhagen Metro), the Italian turnkey con-tractor wanted to terminate the agreement with one of the sub-suppliers, MT Højgaard, on the grounds that the turnkey contractor could perform the works themselves, although it was ac-tually MT Højgaard who was responsible for the works.
Therefore, MT Højgaard approached partner Carsten Led-Jensen for assistance; first of all to negotiate a withdrawal from the project, and secondly – if needed – to represent the interests of MT Højgaard in an arbitration case.
Following 5 intensive months of negotiations, the parties reached a mutual agreement; an agreement with significant financial value to MT Højgaard.
The negotiations were made in English and contemplated a thorough knowledge of both the basis of contract, the underlying law, the technical, complicated project and – in particular – the capability of keeping a cool, strategic and tactical breadth of view during several months, although great values were at stake.