The original high court is spread across different locations, making access and seamless service provision difficult. Designed by renowned architect Renzo Piano, the new development provides one central home for the court.
The project’s scale and complexity called for highly efficient risk management to reassure international lenders of its viability – particularly in light of ongoing economic uncertainty and impending French elections at the time.
Our Paris-based technical, operational, contractual and cost specialists provided the lenders with a clear understanding of the project’s risks. A detailed analysis was provided covering key technical constraints – particularly the challenging brownfield site conditions, which included pollution issues, difficult geotechnical conditions and a constrained urban footprint.
The focus shifted to contractual mitigations during financial close, for which we drew on our experience on more than 50 public private partnership (PPP) projects in France. We maintained a strong relationship of trust with the lenders and the sponsors. This enabled all parties to collaborate in producing a clear risk structure and equitable funding conditions to successfully close the deal.
Financial close was reached in 2012. We've been monitoring construction and will monitor operation when the building enters service under a 27 year concession.