New York, New York
Lower Manhattan Development Corp. (LMDC)
The terrorist attack and collapse of the World Trade Center twin towers on September 11, 2001 resulted in structural damage and World Trade Center Dust intrusion into the adjacent 39-story Deutsche Bank Building at 130 Liberty Street. In 2004, Lower Manhattan Development Corp. (LMDC) purchased the building and entered an $81 million deconstruction project scheduled to last 16 months. However, the contractor did not complete work until 2011, more than three years and $110 million over the contracted schedule and cost. In addition, a project fire resulted in the deaths of two New York City firefighters.
GREYHAWK provided delay and damages analysis to LMDC and its attorneys to determine causes of the delayed completion and magnitude of resultant costs in order to recover damages from the contractor. GREYHAWK identified issues leading to cost increases, compiled all cost data, and segregated costs specifically attributable to those issues, resulting in a claim of over $142 million in damages. GREYHAWK also performed an evaluation of the contractor’s opposing damages analysis, valued at $120 million, prepared affirmative and rebuttal reports, and provided testimony at respective depositions. GREYHAWK’s expert delay and analysis reports and deposition ultimately led to the court’s dismissal of the contractor’s claims. LMDC was paid substantial damages in settlement with the contractor.