19 March 2020
As companies and entire countries are grappling with the consequences of the Covid-19 outbreak, questions start to arise on whether the parties can be compelled to continue to execute their contracts, and what remedies may be available to either (i) avoid performance or (ii) force a company to comply with its contractual obligations.
The present briefing examines what remedies parties could possibly invoke under Belgian law governed agreements. Obviously, there is no “one size fits all” and the availability and usefulness of such remedies will need to be assessed on a case-by-case basis.
In addition, such remedies might be impacted by any governmental or regulatory measures taken to alleviate the economic difficulties experienced as a result of the Covid-19 outbreak, such as emergency financial assistance to distressed companies, suspension of certain contractual obligations or restrictions on enforcement measures