In a Joint Venture for a project that has finished, the Joint Venture is dissolved. If a claim arise in a Statue of limitation or repose period, who is liable in the claim, the Joint Venture entity, or each firm that was part of the agreement individually? How the claim could be filed?
Because I know that both teams shares responsibilities during the project, but what happen when is done and dissolved?
Hi @ajmb.arch let’s get one of our expert architects to help with this question. @coachpaulmosher do you mind jumping in?
Sorry for the delay here.
If the joint venture was dissolved and a claim arose within the Statue of Repose and was acted upon during the Statute of Limitations, all those who worked on the project who are professionally liable for its success would be liable for the damages. Whether or not the company still exists will not affect the owner’s ability to seek damages.