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jeremy Benjamin
Hagit Blaiberg

The Coronavirus Crisis - Force Majeure and the Prevention of Future Litigation: Essential Preparation for ‘The Day After’

Dear Clients,

The global economy has been shaken by the coronavirus pandemic. Although it is too early to determine the extent of its impact, the effect of the coronavirus pandemic is already being felt around the world. As they deal with factors beyond their control, many businesses are subject to uncertainty as to their cash-flow and long-term prospects for survival, as well as complex legal situations.

In the present reality, it may be impossible to perform certain contracts, while others may be worthless to a particular party to the contract, at least for the time being. This situation is likely to result in future litigation which will likely address the question of whether a global pandemic constitutes an event of force majeure or contractual frustration under Israeli law.

Any party who has sustained damage or anticipates damage from the coronavirus pandemic should take action now to address immediate issues while also planning ahead for the day after, when the reasonableness and proportionality of real-time actions will likely be examined post-facto by the courts.

For the full update, click here.

As always, we are at your service, even in these challenging times.
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The content in this Memo is provided for informational purposes only and does not serve to replace professional legal advice required on a case by case basis. The Firm does not undertake to update the information in this Memo, or its recipients, about any normative, legal, or other changes that may impact the subject matter of this Memo
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Should you have any questions or need additional information regarding this matter, please feel free to contact Adv. Hagit Blaiberg, Head of the Corporate, Administrative and Class Action Litigation Department: hagit.blaiberg@goldfarb.com or +972-3-608-9803; Adv. Jeremy Benjamin, Partner and Deputy Department Head: jeremy.benjamin@goldfarb.com or +972-3-608-9803; Adv. Lior Gutwirt, Partner in the Department: lior.gutwirt@goldfarb.com or +972-3-608-9941; Adv. Hadas Yogev of the Department: hadas.yogev@goldfarb.com or +972-3-608-9941; or Adv. Elad Sharabi of the Department: elad.sharabi@goldfarb.com or +972-3-608-9829.