As many businesses grind to a halt amid the COVID-19 outbreak, borrowers and lenders alike will be assessing the ability of companies to service loans and the position under existing and pending contractual arrangements. A pressing issue is likely to be the applicability of so-called ‘MAC’ clauses in financing agreements. Such clauses may be relied upon by lenders to seek further security,...
On 20 April 2020, the TCC (HHJ Eyre QC) gave judgment in Municipio de Mariana & ors v BHP Group Plc & anor  EWHC 928. The Judgment may be of interest to those making, or facing, requests for extensions of time for the service of evidence, including where such extensions may result in adjournments of very substantial hearings, as a result of the COVID-19 pandemic. The underlying proceedings...
Clare Reffin recently sat as an Examiner under the Evidence (Proceedings in Other Jurisdictions) Act 1975 for a fully remote Examination. As so often happens, an individual working in London was an essential witness for US proceedings. Before the lockdown, the case had proceeded in typical fashion. An order had been obtained through a paper application to the Senior Master, and subsequently the...
In a recent (31 March 2020) decision of the Commercial Court in Terre Neuve SARL & Ors v Yewdale Ltd & Ors  EWHC 772 (Comm), Mr Justice Bryan has given useful guidance on the circumstances in which a jurisdiction clause in a written agreement between parties A and B may apply to a dispute arising out of a separate oral agreement between those parties depending upon the extent of identity...
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