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Arbitration tribunal awards Vienna Airport approximately € 16.7 million in its case against ARGE HKL.
In its notification delivered today, the arbitration tribunal appointed for the Flughafen Wien AG vs. ARGE HKL case decided on the open issues between the parties. Flughafen Wien AG was awarded a gross amount of approximately € 16.7 million.
ARGE HKL was responsible for planning and executing building services in the construction of the new Terminal Check-in 3 (previously “Skylink”). Ortner GesmbH was responsible for the sanitary facilities. The amount awarded includes not only corrections of the final invoice and excessive purchase prices but also price reductions. In accounting terms, FWAG will offset most of the amount awarded against the manufacturing costs of the Terminal Check-in 3. This will reduce future amortization and depreciation. Only a small amount will impact the result in the 2013 profit and loss account. Together with this arbitration award, total costs for Check-in 3 (previously “Skylink”) were reduced by a considerable additional amount against the original budget of € 830 million. At the present moment, the preliminary calculation currently results in a total of approximately € 725 million. In clearing up matters from the past, a total exceeding € 30 million has already been obtained from various contractors and suppliers, either as damages or as a reduction of construction costs.
The starting point of the dispute were claims and notice of defects against ARGE HKL on the part of FWAG in the context of clearing up matters relating to the construction of the new Terminal Check-in 3 (previously “Skylink”). These related to several legal titles, in particular from excessive purchase prices, defects in planning and execution as well as settlement differences in respect to the overall contract with its gross amount of approximately € 160 million. The decision of the arbitration tribunal was the result of lengthy and extensive arbitration proceedings involving technical and legal experts. The arbitration tribunal consisted of three members: University professors Dr. Michael Holoubek and Dr. Markus Achatz and Chairman Dr. Stephan Fuld, a court-appointed construction expert.
Further inquiries: Flughafen Wien AG Press Office
Peter Kleemann (+43-1-) 7007-23000
Clemens Schleinzer (+43-1-) 7007-22399
Stefanie Tomanek (+43-1-) 7007-26939
p.kleemann@viennaairport.com
c.schleinzer@viennaairport.com
s.tomanek@viennaairport.com
In its notification delivered today, the arbitration tribunal appointed for the Flughafen Wien AG vs. ARGE HKL case decided on the open issues between the parties. Flughafen Wien AG was awarded a gross amount of approximately € 16.7 million.
ARGE HKL was responsible for planning and executing building services in the construction of the new Terminal Check-in 3 (previously “Skylink”). Ortner GesmbH was responsible for the sanitary facilities. The amount awarded includes not only corrections of the final invoice and excessive purchase prices but also price reductions. In accounting terms, FWAG will offset most of the amount awarded against the manufacturing costs of the Terminal Check-in 3. This will reduce future amortization and depreciation. Only a small amount will impact the result in the 2013 profit and loss account. Together with this arbitration award, total costs for Check-in 3 (previously “Skylink”) were reduced by a considerable additional amount against the original budget of € 830 million. At the present moment, the preliminary calculation currently results in a total of approximately € 725 million. In clearing up matters from the past, a total exceeding € 30 million has already been obtained from various contractors and suppliers, either as damages or as a reduction of construction costs.
The starting point of the dispute were claims and notice of defects against ARGE HKL on the part of FWAG in the context of clearing up matters relating to the construction of the new Terminal Check-in 3 (previously “Skylink”). These related to several legal titles, in particular from excessive purchase prices, defects in planning and execution as well as settlement differences in respect to the overall contract with its gross amount of approximately € 160 million. The decision of the arbitration tribunal was the result of lengthy and extensive arbitration proceedings involving technical and legal experts. The arbitration tribunal consisted of three members: University professors Dr. Michael Holoubek and Dr. Markus Achatz and Chairman Dr. Stephan Fuld, a court-appointed construction expert.
Further inquiries: Flughafen Wien AG Press Office
Peter Kleemann (+43-1-) 7007-23000
Clemens Schleinzer (+43-1-) 7007-22399
Stefanie Tomanek (+43-1-) 7007-26939
p.kleemann@viennaairport.com
c.schleinzer@viennaairport.com
s.tomanek@viennaairport.com
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