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The Coronavirus and Its Potential Impact on Your Business Contracts

On March 4, 2020 by Schnader

Please visit our COVID-19 Resource Center here for additional guidance.

Jonathan W. Hugg, partner and co-chair of the Financial Services Litigation Group, published an article in the Philadelphia Business Journal, “The Coronavirus and Its Potential Impact on Your Business Contracts.”  He writes in part:

As the coronavirus slowly creeps toward America and into our economic lives, it is worthwhile to pause and consider the potential impact of an epidemic on the contractual relationships that govern our businesses.

It is not out of the question that if/when the coronavirus strikes in our region, the disease will affect business operations. Borrowers and tenants may stop paying, construction projects could suffer delays, deliveries may slow, cancellations could surge, travel may cease, and deadlines could be missed. There will inevitably be a rash of default-related disputes as parties, in good and bad faith, blame the epidemic for their failure to meet their contractual obligations.

Read a PDF of the full article here.

Read the article on the Business Journal’s website here.

Mr. Hugg’s practice concentrates on commercial and appellate litigation, with an emphasis on financial institution, real estate, regulatory enforcement, and municipal matters. He regularly litigates matters of critical legal importance to financial institutions and lenders, including cases involving: commercial loan work-outs and lender liability, including to consumers; fraudulent transfers; privacy and bank secrecy; disputes arising under the Uniform Commercial Code (UCC), including lien priority disputes; fiduciary matters; bankruptcy trustees and adversary matters in bankruptcy court; loan participation agreements; and check fraud and warranties.