Real Estate, infrastructures and urban redevelopment
Those involved in the field of urban redevelopment are aware of the high probability of conflicts and disputes breaking out which may reach a dead end. This phenomenon is due to a special combination of factors: land belonging to a large group of private individuals, who also live in it in many cases, a particularly long statutory planning process, an inordinate time discrepancy between the entering into of contracts with the proprietors and the start of construction, and vacation, alternative housing and demolition mechanisms which do not exist in normal construction projects.
In order to provide an effective and appropriate solution which is customized to the field, we have developed complementary tools and mechanisms that serve all parties in finding effective and fair solutions, while shortening the timelines for decision-taking and progress in the project:
- A mechanism for rapid rulings by the arbitrator who was appointed at the start of the project. Each of the parties may, should he consider it necessary to do so, initiate an expedited adjudication proceeding during the life of the project – The parties agree in advance on the manner of the abridged hearing and the timeline for making a decision. This mechanism is designed to facilitate a swift resolution of disputes and progress in the project, while, if necessary, an additional proceeding is carried out to determine economic conditions (damage assessment, compensation, changes in consideration). The arbitrator is authorized to grant temporary reliefs as well as to join to the hearing, on an ad hoc or perpetual basis, as necessary, additional professionals whose expertise is in urban redevelopment (engineers, architects or appraisers).
- Fast Track Arbitration for the swift resolution of business or economic disputes in a summary proceeding and with a timeline that does not detrimentally affect the continuation of the project.
- Mediation or round table discussions with the participation of professionals for resolving disputes by agreement through dialogue and compromise.
It is evident from the experience which we have accumulated, that use of these mechanisms saves the parties time and resources and makes a substantial contribution to the advancement of the projects and their successful completion.
