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An invitation to Covid-19 Webinar: How to escape your commercial contracts
17 April 2020@ 12:00 pm - 5:00 pm
99$ABOUT THE WEBINAR
This seminar will address how to escape commercial contracts and salvage what you can from the Covid-19 disaster. We will examine the following legal concepts:
force majeure clauses deal with unforeseeable circumstances that prevent fulfilment. It will usually suspend obligations for the period of those circumstances.
Frustration applies where performance becomes impossible, with neither party being at fault. The legal consequences are that the contract is automatically terminated at the point of frustration.
The law of penalties To the extent that a contract excludes frustration the law of penalties can operate to make it unenforceable.
Unjust enrichment If you got nothing valuable from the contract as a result of Covid-19 you can demand back (or refuse to pay) your side of the bargain.
Liquidation Can I sink my company and walk away? How to avoid falling foul of anti-phoenixing laws. What about PAYG, GST and Income Tax?
Amnesties and Moratoriums What has been legislated, what has been announced and what can be expected. We also look at what happened under the 1932 Moratorium Act.
Personal guarantees How to escape them, how to negotiate out of them, how to make them worthless.
Asset preservation When moving my assets, or the assets of my company, what should I look out for to avoid legal problems later on.
What deal can be done Your contractual counterpart is bewildered and hurting, perhaps you can cut a walkaway deal. We review the best deals we have seen, including equity to release debt, possession to release guarantees, term extensions to release guarantees.
Delay, delay, delay The government has changed the period for winding up notices from 21 days to 6 months. That is just the beginning, there are many other strategies you can use to spin things out until the crisis is over or can optimise the arrangement of your affairs.
The seminar will be presented by Matthew Bransgrove | Bransgroves Lawyers | www.bransgroves.com.au
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