Invoice Analysis and Wasted Cost Assessment
Background
The Claimant was engaged as part of a rebuild of a chemical plant seriously damaged by fire. The Claimant performed a substantial amount of work but then the rebuild was cancelled as the owner abandoned the rebuild project and shut the plant down permanently. The Claimant’s last invoices were not paid by the owner and the Claimant initiated arbitration proceedings against the owner. The owner counterclaimed for lost profits and wasted costs as a consequence of the partial rebuild.
Our Role
Secretariat professionals were engaged by the Claimant to provide expert testimony in the ICC Arbitration in Scandinavia on its claim for non-payment of invoices and in respect of the counterclaim for lost profits and wasted costs.
Outcome
We analyzed the Claimant’s invoices which contained a very large volume of elements running into tens of thousands of rows of data. We performed data analysis to identify a suitable sample to review which provided sufficient coverage of the monetary amount and specifically critically analyzed the Respondent’s reasons for non-payment. The counterclaim involved a detailed assessment of costs and project appraisals including determination of what was known or knowable at various critical stages of the project.
Latest Insights
Article | January 31, 2025
UK Corporate Crime Law Puts ‘Senior Managers’ in the Hot Seat
The UK’s Economic Crime and Corporate Transparency Act (ECCTA) is a game-changer for corporate accountability. By broadening liability for fraud and redefining “senior manager,” it signals a clear warning: organisations will be held accountable for the actions of their staff and, potentially, those of third parties. Whilst ECCTA presents significant challenges, it also offers opportunities […]
News | January 30, 2025
Integrity and Accountability: Anti-Corruption Enforcement in Saudi Arabia
As Saudi Arabia advances its transformative Vision 2030 agenda, the country’s blueprint for economic and long-term prosperity, it is placing a strong emphasis on accountability and integrity through combating bribery and corruption. In our latest whitepaper, we explore the legislative developments and impacts of these initiatives on fostering a governance framework aligned with Vision 2030.
See All Insights
Talk to Our Insightful Experts