Bonava has reached a settlement with HDM, a former German hotel developer, in a legal dispute deriving from a construction contract that Bonava terminated in 2006.
In 2006 Bonava terminated a construction contract due to not receiving security for final payment. The project was a hotel and conference center in Rostock Germany. At the time, Bonava worked as a general contractor, a business that the company has ended many years ago to focus solely on housing development.
The court process has been going on since 2008 and has comprised claims by both parties. The current settlement relates,