2022 Spring/Summer Lectures: Material Adverse Effect in a post-pandemic age
Tuesday 5 July 2022, at Hogan Lovells International LLP
“Material Adverse Effect in a post-pandemic age”
Sa’ad Hossain QC and James MacDonald QC of One Essex Court
This talk addresses the landmark Commercial Court judgment in Travelport & Ors v WEX, Inc ( EWHC 2670 (Comm)), which concerned whether the effects of the Covid-19 pandemic were a Material Adverse Effect entitling the Defendant, WEX, not to proceed with its widely publicised €1.7bn acquisition of two substantial e-payments companies. As the first English judgment to consider the construction of Material Adverse Effect clauses in light of the pandemic, it will have major and wide-ranging ramifications for the many material adverse effect, force majeure and business interruption cases which are anticipated or already in train as a result of the economic impacts of Covid. The One Essex Court speakers at this talk appeared on opposite sides (Sa’ad Hossain QC for the claimants and James MacDonald QC for the defendant, WEX), and they will share their unique insight into the case and its implications. In light of recent geopolitical events, Material Adverse Effect clauses are likely to be a hot topic for a while.
The lecture will start at 6 p.m.and last approximately one hour, to include a period for questions at the end, and will be followed by drinks.
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