This issue is filled with great insights and expert commentary on areas that are relevant to the legal landscape and highlight how the business community is embracing technology, media and telecommunications. There are various topics covered, from new ways of working and digital transformation in the finance sector to data protection regulatory updates and guidance. We also have a series of articles that focus on e-commerce across a number of jurisdictions.
You will also find insights from our lawyers around real estate analytics, tech trends, and data centres.
We hope this edition of Law Update provides some useful food for thought – enjoy the read!Take a read of the edition
A consequence of the Coronavirus situation is the immediate financial impact on businesses caused by things such as contracts not being fulfilled, reduced customer footfall and increased costs due to having to find alternative suppliers. Many businesses will find their cashflows stressed for reasons completely outside of their control. Even if a force majeure can be proved (see above) and a business has a strong contractual right to claim for damages, businesses will need to ensure that they take steps to ensure they are around long enough to bring a claim.
Along with the other steps that can be taken as mentioned in this note such as reviewing credit and other insurance policies, we would recommend the following:
It is inevitable that some businesses will face severe financial difficulties, even insolvency, as a result of Coronavirus. Every business needs to be aware of the impact on its business and to the extent that external funding is involved, it always pays to involve your lenders as early as possible to give them as long as possible to consider anything they can do to support you.