In light of the development of the global coronavirus outbreak, many companies are seeking ways to back out of contracts or prevent deals from falling apart, creating an increase of over 25% in work for corporate lawyers.
Dispute Resolution Partner Aoife Keane gave her expert opinion, saying “We’re in uncharted territory here. As far as I can remember, nothing has had the same ramification for business to business contracts and the supply chain.”
“It will take months before this really ramps up and parties end up in litigation, but I certainly see a lot of that on the cards.” Aoife stated that some companies added pandemics into their force majeure and M&A literature in the wake of the SARS epidemic, but the average business “just hasn’t thought that through.”
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