Negotiations

 In 1996, GPUN had a contract with a company to design and fabricate a spent nuclear fuel containment system for one of our nuclear generating stations.  After completion of the design of the system but before finishing fabrication and delivery, the contractor went into Chapter 11.  Its assets (including tooling, proprietary design for the system, and some work in progress) were being liquidated to pay creditors.  

I quickly prepared a claim against the company, thus becoming one of the major creditors.  This action provided leverage in negotiating with the new owner of the assets, allowing us to obtain very favorable terms for completion of the fabrication and delivery of the remainder of the system, at nominal cost.  In addition, a unilateral buyout clause was incorporated in the ensuing contract with the new owner, which provided us with a means to sell the finished equipment and thereby fund a more advanced system once the technology advanced to meet our ultimate needs.  This option was exercised, to the advantage of both parties – the manufacturer met a critical delivery with another client, and we received a substantial amount of money to fund a newer design. 

I led the negotiation team, and developed all contractual language for this effort.

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