This Alert is the second in our series that considers the impact of the Eurozone crisis on the international commodities markets, and follows Alert no. 2012/169 titled, “The Eurozone and Commodity Contracts 1”, dated 18 July 2012.

Since that Alert was published, the possibility of a Eurozone Exit or Eurozone Break-up continues to receive attention in news articles and trade commentary around the world.

This second Eurozone Alert will consider whether a Eurozone Exit or a Eurozone Break-up could bring a commodity sales contract to an end under the English law doctrine of “frustration”. It also looks at whether these events could trigger “Force Majeure” and “Material Adverse Change” provisions in commodity sales contracts.

Please see full Alert below for further information.