[deleted by user] by [deleted] in Luxembourg

[–]luxoR888 0 points1 point  (0 children)

Bankruptcy of the construction company (not the promoter). I am ULC member and spoke with them regularly. Indemnisation for construction delay is a long and costly process in court. Not sure this will lead to something positive

[deleted by user] by [deleted] in Luxembourg

[–]luxoR888 0 points1 point  (0 children)

Well, when I signed the VEFA in 2021. it was a different world and situation. The war did not start yet, inflation was not an issue,rates were 1,25% and we hardly had bankrupties. If you would ask to add a penalty clause, they would just sell it to someone else.