Care home compromise
We advised a developer on the development and funding of a new build care home with a build cost of £5 million. In this case, the client, through its other professional advisers, had already prepared and agreed with the contractor the forms of construction documentation and collateral warranties. However, in a number of respects these did not satisfy the requirements either of the bank or of its appointed project monitor.
Our team was instrumental in negotiating changes to the drafts which satisfied not only the lenders but were also acceptable to the contractors and consultants.
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