Bankrupted General Contractor Leaves Owner Without Documentation

When subcontractors took over after the general contractor went bankrupt, we assembled the required documentation from a sea of sources.

Property Name: Roosevelt 7/8
Location:Budapest, Hungary
Property Type:Office
Service Types:Property Management, Technical & Facilities Management
Size:28,830 m²
Owner:GLL Real Estate Partners
Website:www.roosevelt-budapest.com
Main Tenants:E.ON, BNP Paribas, Bloomberg, Euronews

Challenge

Required documents related to the building’s construction were scattered among the various subcontractors who completed the construction when the general contractor went bankrupt during development. The missing documents threatened to complicate the handover process for the owner.

Solution

Our extensive knowledge of the construction process allowed us to identify which documents we needed to track down, and to collect them from many subcontractors. Our technical team compiled the list of missing documents, clarified issues with the subcontractors, and collected the required documents.

Results

The owner received the necessary documentation and handover of the building was completed seamlessly.