Corporate Law

Aviation Update: Common themes in times of crisis

The Aviation (Enforcement and Recovery) team has been advising clients on issues arising from the current crisis. Three main themes emerge from the current challenges in the airline sector:

1.) Airline insolvency risk.  A number of leasing companies have claims for unpaid rent and maintenance rent. These claims can be pursued by:

  • applying security deposits and enforcing other security; and/or
  • issuing proceedings in the High Court – which will effectively come to halt if the airline then goes into a formal insolvency process; and/or
  • Instigating insolvency proceedings against the airline; and/or
  • Exercising proprietary rights such as arresting and taking possession of the aircraft, with the assistance of a court order or injunction in the relevant location.

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FORCE MAJEURE AND CORONAVIRUS: FREQUENTLY ASKED QUESTIONS

Part 1: Force Majeure and Suspension/Termination of Contracts

Coronavirus (COVID-19) is turning out to be a twin fold pandemic – that started with affecting public health and soon spread throughout the economy. Sudden global shutdown and travel restrictions have brought the economy to a screeching halt, before most of us could even comprehend the real impact. Many businesses are still at a loss and are only doing a guesswork regarding the magnitude of potential losses and recalibration needed for the businesses to survive this time, and remain viable.

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VERTRAGSRECHTLICHE PROBLEME IM ZUSAMMENHANG MIT DEM CORONAVIRUS

HÖHERE GEWALT, WEGFALL DER GESCHÄFTSGRUNDLAGE UND SCHADENMINDERUNGSOBLIEGENHEITEN

Welche Vorgehensweise ist Unternemern bei vertragsrechtlichen Problemen mit Vertragspartnern, insbesondere aus China, zu empfehlen, die sich im Zusammenhang mit dem Coronavirus auf höhere Gewalt (Force Majeure) berufen

  1. Vertragsprüfung

Zunächst ist ein Blick in den Vertragstext zu empfehlen. Viele internationale Verträge zwischen Unternehmern enthalten Klauseln zu Rechtsfolgen bei höherer Gewalt (sog. „Force-Majeure“-Klauseln). Diese können sehr unterschiedlich ausgestaltet sein. Meistens werden die Voraussetzungen und die Frist für die Geltendmachung sowie die Auswirkungen für das Vertragsverhältnis genau geregelt. Meist bestimmt eine solche Klausel, dass die Leistungspflichten für die Dauer der Force Majeure ausgesetzt werden. Oft wird damit gleichzeitig ein Haftungsausschluss vereinbart und Verständigungspflichten ausgelöst. Epidemien werden zumeist von der vertraglichen Definition von höherer Gewalt umfasst. Read more…

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COVID-19: Ny hjælpepakke på vej til små og mellemstore virksomheder

Ny hjælpepakke skal forbedre likviditeten for de små og mellemstore virksomheder og dermed hjælpe dem igennem de udfordringer, som den nuværende sundhedskrise medfører. Pakken omfatter momskredit for små og mellemstore virksomheder og udskydelse af B-skatterater for selvstændigt erhvervsdrivende. Read more…

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Force majeure i offentlige anskaffelser?

Hvilke regler gjelder for force majeure i offentlige kontrakter? I denne artikkelen gir vi en oversikt over når du som leverandør til offentlig sektor kan påberope deg force majeure pga koronautbruddet, samt forhold du nå bør være ekstra oppmerksom på ved inngivelse av tilbud til offentlig sektor.

Problemstilling

Det pågående koronautbruddet og tiltak fra offentlige myndigheter kan ha store konsekvenser for løpende kontrakter, for eksempel gjennom begrensninger i vareflyt, valutasvingninger, råvareknapphet og produksjonsstanser. Det offentliges innkjøp reguleres av anskaffelsesreglene, som i noen grad kan oppfattes som lite fleksible i situasjoner som den vi nå står overfor. Det er likevel rom for tilpasninger, men dette vil stille seg litt ulikt etter hvilken fase av anskaffelsesprosessen en er i. Read more…

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CONTRACTUAL PROBLEMS RELATED TO THE CORONA VIRUS

FORCE MAJEURE, LOSS OF BUSINESS FOUNDATION AND LOSS MITIGATION OBLIGATIONS

What is the recommended procedure for companies with contractual law problems with contract partners, especially from China, who rely on force majeure in connection with the corona virus

  1. Contract review

First, a look at the contract text is recommended. Many international contracts between entrepreneurs contain clauses on legal consequences in the event of force majeure (so-called “force majeure” clauses). These can be designed in very different ways. Most of the time, the requirements and the deadline for assertion and the effects on the contractual relationship are precisely regulated. In most cases, such a clause stipulates that performance obligations are suspended for the duration of the Force Majeure. Often, a disclaimer is agreed at the same time and obligations to communicate are triggered. Epidemics are mostly covered by the contractual definition of force majeure. Read more…

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Impact of Coronavirus on Employment and Business Relationships: Force Majeure and Other Important Aspects

Undertakings who have difficulty in performing their obligations to cooperation partners and employees are faced with the following questions:

  • Is the virus a force majeure event?
  • Is the aggrieved party entitled to claim amendment of the contract from the other party?

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Korona – Ylivoimainen este (Force majeure)

SOPIMUSSITOVUUS

Sopimukset laaditaan aina niillä tiedoin, mitä sopimushetkellä on tiedossa. Sopimusoikeuden keskeisin periaate on sopimuksen sitovuus. Oikeustoimen solmivat sopijapuolet voivat yhdessä sopimusvapauden nojalla päättää velvoitteista, joita he sopimuksellaan sitoutuvat noudattamaan keskinäisessä suhteessaan. Sopimusrikkomuksista voi seurata vahingonkorvausvelvollisuus, sopimussakko tai muita oikeudellisia sanktioita. Read more…

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CORONAVIRUS: LEGAL ISSUES RELATED TO EVENTS

Quo vadis? – So as the ancient Romans said “where are you going”, or how many Austrians have recently had to say “where are you not going”?

What has been ordered – On Tuesday, March 10th, 2020, the government presented far-reaching restrictive measures to deal with the coronavirus for the next few weeks. Among other things, all outdoor events with over 500 participants and indoor events with over 100 participants are prohibited until the beginning of April (03.04.2020). However, what the government has not said is what that means for everyone. Read more…

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Coronavirus Emergency Declarations Trigger Anti-Price Gouging Laws

At the time of publication, at least twenty four states, plus Washington D.C. have declared states of emergency related to the novel coronavirus (“COVID-19”), with that number growing by the hour.  In addition to making more resources available to residents, in many cases, the declarations also trigger additional protections to consumers in the form of anti-price gouging laws.  These laws, which automatically go into effect, are intended to prevent merchants from significantly increasing the cost of consumer goods and services during a crisis.

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