COVID-19 CONTRACT CLAUSE

To minimise financial risks, both parties shall consider including the following clause:

“No Party shall be liable for delay, if it has exercised due professional diligence and, therefore, is not at fault for delay caused by spread of the COVID-19 virus or by any measures implemented to limit the outbreak. Party affected by the COVID-19 virus must immediately notify the other Party regarding circumstances of the delay. Party affected by the COVID-19 virus must, on request of the other Party, provide evidence for the facts given in the notice, including that the delay is caused by COVID-19 virus and that the Party has exercised due professional diligence to avoid the delay.”

by Gints Vilgerts, Managing Partner, Latvia

Team

Related Experience

Successful representation of BAO in disputes for collection of insurance indemnity against Compensa Vienna Insurance Group and BTA Baltic Insurance Company.

Advising BAO AS, a leading Latvian waste management company, with its filing of an appeal to the Procurement Monitoring Bureau regarding the results of a high-profile tender.

Advising East Capital Real Estate Fund IV on the various legal aspects of its EUR 83,000,000 (approximate) acquisition of 100% of the shares in Deglava Real Estate SIA (a subsidiary of ICA Gruppen (Sweden)), which owns a modern 94,000 square meters logistical and office center in Riga.  The transaction is one of the largest and most significant real estate transactions to occur in Latvia during 2023.

Representing VW dealers in several follow-on antitrust damages litigations.