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Releasing retention: no change in sight - Kieran Fano published in CICES' Construction Law Review
- AuthorKieran Fano
Kieran Fano in our specialist construction law team has been published in The Chartered Institute of Civil Engineering Surveyors’ latest Construction Law Review.
Published annually the review is a must read for those interested in the future of the sector during these challenging times.
With the continued Parliamentary delay to the Construction (Retention Deposit Schemes) Bill, Kieran’s article covers recent developments in relation to retention, case law that can assist with common problems and possible alternatives to the current system, in particular:
- Standard form construction contracts that expressly provide that retention sums are held on trust as fiduciary for the payee
- Section 110(1A) of the Housing Grants, Construction and Regeneration Act 1996
- Construction contracts that come to a premature conclusion
- Existing legal authorities that support the release of retention where it had been prevented from being released
- The potential solution offered by project bank accounts and retention bonds
Kieran’s full article on retention mechanisms in the construction sector is available at this link or by emailing firstname.lastname@example.org.
Kieran has developed extensive knowledge and experience of domestic and international construction and engineering projects both domestically and internationally. Kieran’s contentious experience includes acting on behalf of employers, consultants, contractors, subcontractors and insurers in proceedings in the High Court, Court of Appeal and Supreme Court of the United Kingdom as well as adjudication and domestic and international arbitration. Kieran’s non-contentious experience has been developed in reviewing, drafting and advising in relation to contract documents, tenders and project issues for a variety of clients including employers, funders, insurers, main contractors and specialist sub-contractors.
Goodman Derrick - Construction
Goodman Derrick has a strong cross-departmental Construction Group that provides contentious and non-contentious advice to property owners, developers, contractors and consultants, the group:
- provides a comprehensive construction law service, from project beginning to end
- draws on its knowledge of the construction industry, built up over many years
- works extensively in the UK and internationally
- takes pride in its ability to offer practical and commercially sound solutions
This guide is for general information and interest only and should not be relied upon as providing specific legal advice. If you require any further information about the issues raised in this article please contact the author or call 0207 404 0606 and ask to speak to your usual Goodman Derrick contact.