Business disputes occur around the globe on a regular basis. The disputes can arise in a variety of situations including business, real estate and construction. While it is possible that the fallout from such a dispute can be minimal, in other situations it could have far reaching consequences, impacting many other businesses and individuals. A dispute that did just that was recently resolved.
The matter involved the construction project currently underway on the Panama Canal. The canal, which changed the face of shipping when upon its completion the Pacific Ocean and Atlantic Ocean were connected, is in the process of being expanded. Because the cost of this project is running so high over budget, the construction consortium working on the project announced that to avoid suspending construction, the Panama Canal Authority needed to pay a portion of the overruns.