-
Introduction – How to deal with an economic crisis as an international business
Introduction to 17-part ZFZ Series: How can international businesses deal with an economic crisis? In this video, Luke Zadkovich introduces our series on tools and strategies that international companies can use to protect and mitigate their positions. We are currently advising clients on these strategies almost daily. Economic crises, by their nature, rarely come announced. But once they do, early movers are better placed. Liquidity dries up. Payments are delayed or unpaid. Relationships are tested. Market prices drop significantly. Price volatility increases exponentially. Counterparty insolvency is a genuine prospect. This is not the first, nor will it be the last. While the causes will be different, previously successful strategies can and should be employed. Experience matters, and 2008 taught us a lot. Our strategies are nuanced, layered and staggered. Economic crisis management is bespoke and multi-faceted. It varies between different scenarios and relationships. Today is our intro. There is plenty more to come. We would love your feedback, comments, likes and shares. It all helps to get our message out there and assist more businesses during this concerning time. Your ongoing support is very much appreciated. Further details, please contact Luke Zadkovich or your usual ZFZ contact.
-
Free Trade Agreements 2020
„Free Trade Agreements and European Integration of SEE Countries“, Faculty of Law University of Belgrade
Master’s Program, Jean Monnet Project (sponsored by European Commission)
21 and 22 March 2020 -
Coronavirus and Force Majeure
It has been widely reported that LNG receivers in China have recently declared force majeure on LNG contracts due to disruptions caused by the 2019 novel coronavirus (2019-nCoV) which has now been given the official name COVID-19 (“novel coronavirus”). This was done after force majeure certificates were issued from the China Council for the Promotion of International Trade (“CCPIT”), with the approval of China’s Ministry of Commerce.
-
BIMCO Sanctions Clause 2020
BIMCO rounded off 2019 by releasing an overhaul of the BIMCO Sanctions Clause. Owners previously held the right to ignore charterers’ orders based on owners’ “reasonable judgment”. That right is removed. This will be of some comfort to charterers, who will be pleased to see the back of a subjective test in owners’ favour.