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In this Insight, first published in PLC, James Clarke, Richard Shaw and Anna Blest consider the Supreme Court's decision in RTI Ltd v MUR Shipping BV [2024] UKSC 18, which confirmed that a party's obligation to exercise...more
The court has looked at a “hindrance” on paying a debt in the context of a force majeure clause and whether a sanctions clause or the general law of sanctions excused payment. Litasco, a Swiss company wholly owned by a...more
In February 2023, the Association of International Energy Negotiators (“AIEN”) published the latest version of its Model International Joint Operating Agreement (the “2023 JOA”) and related guidance notes (the “Guidance...more
In what some may regard as a surprising outcome, the English Court of Appeal has held that a force majeure clause was not triggered because the affected party could have accepted performance that was not in accordance with...more
The ongoing conflict in Ukraine has had a significant impact on commercial activity for many organizations on a local and international scale. Organizations with commercial operations in the region (both Ukraine and Russia)...more
The Insolvency and Dispute Resolution team at Walkers in Dubai continue to advise on the impact of the recent sanctions imposed on Russia in an offshore context, including whether such sanctions can give rise to a defence for...more
Given the recent expansion of the regulatory landscape in light of the ongoing events in Russia and Ukraine, namely the imposition of extensive sanctions on Russia (and certain Russian banks and nationals), there has been a...more
The Russian military’s invasion of Ukraine, coupled with the considerable economic sanctions levied against Russia and certain Russian entities and individuals, has significantly impacted businesses worldwide. Recognizing the...more
8 Key Business Takeaways From Russia’s War - Economic ripples of Russia’s invasion of Ukraine will permeate the financial, energy, retail, and agricultural sectors, among others. (A link to a related King & Spalding...more
Russia’s invasion of Ukraine has led to the U.S., the EU and the UK imposing wide-ranging sanctions and to significant retaliatory measures by Russia. The immediate priority for those who have operations, or contracts, with a...more
In a judgment concerning the 2018 U.S. Russian sanctions, a force majeure clause in an English law agreement which required the use of “reasonable endeavours” did not require a party to “sacrifice their contractual right to...more
As you will know, an unprecedented sanctions regime has been imposed by the UK, EU and US in response to Russia’s actions concerning Ukraine. But what issues could arise for your contracts with Russian or Ukrainian parties or...more
Thomas G. Allen, Kilpatrick Townsend Partner and Global Lead for International Disputes, discusses the Russian invasion of Ukraine creating a series of commercial contract issues and potential liabilities for companies doing...more
The outbreak of COVID-19 is impacting international trade as global markets deal with uncertain supply and companies and governments work to ensure personal safety while developing contingency plans for handling the virus. In...more
Sanctions programmes are established and developed as a political response to international relations developments; yet they impose significant obligations on commercial entities in terms of compliance. They may interfere...more