Landmark COVID-19 Material Adverse Effect Case

The Commercial Court has given a landmark judgment in the first Material Adverse Effect case arising out of the SARS-CoV-2 pandemic: Travelport & Ors v WEX, Inc [2020] EWHC 2670 (Comm). Mrs Justice Cockerill determined a number of preliminary issues arising in the dispute over WEX’s agreement to acquire the eNett and Optal Groups for c. US$1.7 billion.

Sonia Tolaney QC, James MacDonald, Emma Jones and Andrew Lodder acted for WEX at trial instructed by Freshfields Bruckhaus Deringer LLP.

Sa’ad Hossain QC, Sebastian Isaac and Tim Goldfarb were part of the counsel team acting for the Claimant shareholders of the eNett and Optal Groups at trial instructed by Herbert Smith Freehills and Macfarlanes.

You can view the full Judgment here.