The Force Majeure Dilemma: Selecting the Right Legal and Financial Path During the COVID-19 Crisis
The cost of the coronavirus outbreak has been widely reported and the tragic consequences continue. It is not only health and safety concerns that can have a negative impact on people’s lives: the outbreak has nearly paralyzed the global markets, causing a panic that can potentially lead to haphazard business decisions and fallacious legal battles.
The cancellation of contracts has become a real risk and most businesses seem to believe that enforcing their force majeure clause is the easiest way out. Unfortunately, such hurried decisions can potentially cause further chaos, and lead to worse economic conditions and delays in market stabilization.
To that effect, our experts from Charles Russell Speechlys along with Grant Thornton UAE have jointly prepared legal and financial analysis to provide the UAE businesses with a set of guidelines to help navigate the current climate by encouraging communication between all parties, making the right legal and financial decisions, and choosing the right path to improve their liquidity within the legal bounds.
Our thinking
Sam Saunders
ICC 2021 Rules
The ICC has recently updated its rules for arbitration: the new rules entered into force on 1 January 2021 (the “2021 Rules”).
William Reichert
Use and Regulation of Renewable Energy Certificates in the UAE
The market for trading in renewable energy certificates is set to increase in both visibility and importance.
Patrick Gearon FCIArb
Insolvency Legislation in the GCC
The interesting times of the last 14 months were preceded by the interesting times of the financial crisis of 2008/2009.
Michael O'Connor
Infra.law - Spring 2021
Click here to read the latest edition of our construction and infrastructure publication, Infra.Law.
Ghassan El Daye
Ghassan El Daye quoted by The National on the Dubai courts rejection of Dh1.3m rent refund claim
A convenience shop in Dubai lost its claim to a rent refund of Dh1.3 million from its landlord on grounds of lost revenue during lockdown.
Ghassan El Daye
Ghassan El Daye quoted by The National on legal reform in the United Arab Emirates
Once a law change has been made and is effective, a court of law is obliged to follow the new rule and issue its verdicts based in it.
Ghassan El Daye
Ghassan El Daye quoted by The National on the Federal National Council's proposals to unify legal fees
The Federal National Council is calling for legal fees to be unified.
Niel Coertse
Conditional payment clauses in the UK and Middle East
Niel Coertse writes for Practical Law Construction on how conditional payment clauses help to prevent cash flow difficulties.
Niel Coertse
Niel Coertse writes for the Practical Law Construction Blog on conditional payment clauses in the UK and Middle East
Conditional payment provisions are prohibited in the UK, but in the Middle East, 'pay when paid' provisions play a significant role.
Patrick Gearon FCIArb
Patrick Gearon and Roger Elford write for Global Restructuring Review on the latest restructuring developments in the Gulf region
Sara Sheffield
Our international expansion and four new partners across four offices picked up by the press
Sara Sheffield
Charles Russell Speechlys continues international expansion with the hire of four new partners
We are delighted to announce the hire of four new partners across four of our offices.
Simon Green
The UAE's New Laws Relating to Inheritance and Deceased Estates
UAE furthered its efforts to attract foreign direct investment into the country.
Mark Hill
Mark Hill writes for Media Law International on best practice for production houses to ensure that the return to set is safe and compliant
William Reichert
Bahrain Ultimate Beneficial Owner
The Bahrain Ministry of Industry, Commerce and Tourism publishes new Ultimate Beneficial Ownership (UBO) Rules
William Reichert
The UAE’s recent laws on ultimate beneficial owners and economic substance
The UAE is ramping up measures to tackle tax avoidance and money laundering, the team look at two important new developments.
William Reichert
Can The Middle East Switch from Black Gold to Green?
Michael O'Connor
Infra.law - Autumn 2020
Click here to read the latest edition of our construction and infrastructure publication, Infra.Law.
Niel Coertse
Decennial liability in the Middle East: What is it and does insurance cover it?
The liability arises when the construction is drawn-up by an architect or engineer to be carried out by a contractor.
Glenn Bull
How convenient is termination for convenience in Qatar?
As ‘termination for convenience’ clauses become more common, what do they mean under Qatar law and the effect on your tender process?