The Olympics

The Olympics

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News, information and stories about the PyeongChang Winter Olympic Games and the Olympics in general.

Monday, February 2, 2009

Lawyers To Make a Killing

Every cloud has a silver lining, and it should come as no surprise to learn that even if the Olympics are a colossal waste of money and that we are facing the worst recession for decades, lawyers will still make money out of the games.

That at least is the view of Charles Tomlinson of Mace & Jones'.

He is quoted on Heating and Ventilating News:

"When London was awarded the Olympics the construction sector was booming. It was a welcome bonus for the sector. Now it will be seen as vital for the survival of many companies at time of unprecedented crisis in the sector.

With margins going through the floor and the commercial sector in freefall, all parties will be looking to protect their positions. This is not the ideal environment for a project of the scale and importance of the Olympics.

If, or example, you are waiting payment, does the other party have the means to pay? If so, a well timed adjudication can protect cash flow.

In relation to more complex disputes, parties must consider alternative forms of dispute resolution such as mediation, expert determination or just good old fashioned commercial negotiation to keep the project alive
".

The lawyers will at least do very well out of the games!

Olympic Medals won during the Beijing 2008 Olympics

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