FBK Legal About Force Majeure

FBK Legal has held the third anti-virus webinar. This time, it was titled “Fulfilment of Contractual and Corporate Obligations Under Changed Conditions”.

Senior Lawyer Elizaveta Kapustina was the first to talk about force majeure and the inability to fulfil obligations. She described categories of force majeure events, conditions to be met to apply the force majeure clause and related consequences.

Senior Lawyer Valentina Polyakova proceeded with the explanation of material changes in circumstances. She pointed out which changes are considered or not considered material by courts and which steps should be taken in case of such changes.

Angelina Balakina explained how to conclude agreements during quarantine and self-isolation, how to prepare and approve such agreements, whether electronic signature is required, whether it is allowed to use scanned copies and which risks may arise.

Senior Lawyer Viktoriya Franchenko spoke about the inability to make rent payments. She mentioned the reasons and procedure to obtain exemption, deferral or reduction of rent payments.

At the end of the webinar, Elena Shigidina gave advice to managers and governance bodies on how to act in the new environment, whether it is reasonable to postpone annual meetings of shareholders, whether they can be convened remotely and how to act if the law requires personal attendance.

All webinars are available in the special section of the website “Together Against COVID-19”, where you can find materials useful for businesses during quarantine.

You can watch the video recording here https://youtu.be/5ILCFSaCU8c