Vincenzo Senatore, a partner based in the London office, has been invited to speak at a virtual Conference at the CUA, Columbus School of Law, Washington DC. The conference is free and extremely relevant to commercial entities that have been affected by the current crisis.
Will Covid-19 be a Force Majeure Event in Commercial Contracts?
A Civil and Common Law Analysis.
With COVID-19 having profound impact on today's commerce, a wave of commercial negotiation and litigation is expected as parties seek to enforce or avoid contractual obligations. As a matter of fact, some businesses may seek to rely on force majeure clauses or other contractual rights for relief from the performance of certain obligations due to the impact of the Coronavirus outbreak. Since the virus is a relatively new phenomenon, it is unlikely that any force majeure clauses would explicitly refer to the event of a Coronavirus outbreak. Accordingly, in order to rely on the clause, parties will need to consider the other events included, such as epidemics, actions by government agencies, or work stoppages.
This webinar will investigate how force majeure clauses in commercial contracts are applied and interpreted in practice, and whether such clauses may capture the coronavirus outbreak. Furthermore, it will consider the scenario of the absence of statutory provisions and / or contractual arrangements on force majeure, and finally explores the instruments available to avoid the performance of contractual obligations when force majeure and material adverse change clauses apply. The webinar will conclude addressing as possible solutions to suspend or even end the performance obligations under contracts entered into.