Dentons co-hosts construction forum with Hill International in Seoul
Seoul - Leading global law firm Dentons, in collaboration with international construction consulting firm Hill International, assembled industry practitioners in Seoul last week to discuss effective strategies for managing termination and suspension claims on projects in the Middle East. The event built on the success of previous gatherings in Dentons' popular Construction Essentials series, most recently held in in Dubai and Doha.
Despite challenging market conditions felt through the impact of low oil prices, the Middle East construction industry is projected to remain relatively strong as governments continue to roll out major infrastructure development programmes. However, maintaining positive cash flow on projects has become difficult in some cases as budget deficits increase, leading to the termination or suspension of projects as well as a potential rise in formal disputes.
Analysing the impact of these recent changes, Dentons partners Andrew Jones and Alastair Young discussed effective strategies for prosecuting claims in the Middle East and also shared practical examples of robust legal remedies. Jones, Dentons' Head of Construction in the Middle East, comments: "A rigorous risk assessment at the beginning of projects as well as a detailed review of contracts is key both to avoiding disputes and in preparation for their swift resolution."
Young concurs: "Being prepared is essential. Having a stronger awareness of potential issues allows for the development of practical solutions to avoiding disputes and managing issues if or when disputes arise."
South Korean construction companies have been particularly active in the Middle East in recent years, with the region traditionally accounting for the biggest construction market for South Korean contractors.
Hill International's Senior Vice President, Ben Highfield, also spoke at the oversubscribed forum, providing insight into how an EPC contractor could prepare for increases in the suspension and termination of construction contracts. An opening speech was additionally provided by Mr Hakbong Hyun, CEO of CPlus International, who outlined key tips arising out of his time as Korea's leading claims consultant.
Dentons' top-rated Middle East construction team has an in-depth understanding of the nuances of each local market, stemming from more than 50 years of experience advising on major projects in the region. The team advises across the full industry spectrum from initial entry and establishment for foreign bidders, licensing, procurement planning, contract negotiation and drafting to strategic advice during construction, claims settlement and dispute resolution.
The next event in the Construction Essential Series, due to be held in September in Doha, will focus on common issues arising in dispute resolution procedures in Qatar.
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About Dentons
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries.
In the Middle East for more than half a century, Dentons has a nuanced understanding of the unique legal and business environment in the Middle East as well as long-standing relationships with governments and business communities. Clients use Dentons for the firm's unrivalled local knowledge and international expertise across the Middle East, Europe, the US, Africa and Asia.
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For further information, please contact:
Muireann Kelleher
Head of Business Development & Marketing - Middle East
+971 4 402 0870
muireann.kelleher@dentons.com
Eugenie Misheal
Senior Business Development & Marketing Manager
+971 4 402 0871
eugenie.misheal@dentons.com
© Press Release 2016
