Mar 2, 2021 | News and Events
A bankruptcy court recently excused a debtor-in-possession from paying post-petition rent, after the debtor asserted that Coronavirus restrictions prevented it from continuing normal operations. In a bankruptcy case in the Northern District of Illinois, creditor Kass...Apr 28, 2020 | Articles, COVID-19 Resources
What is force majeure and how is it different from an act of God? The term force majeure is French for “a superior force”; it’s sometimes called a fortuitous event. A force majeure clause is a contract provision that allocates the risk of loss if performance by a...Apr 23, 2020 | COVID-19 Resources, News and Events
On April 29th, the Louisiana Mineral and Energy Board will hold a special meeting to consider adopting a resolution to assist lessees of oil and gas leases issued by the State of Louisiana. As the proposal is currently drafted, the State would grant a temporary...Apr 22, 2020 | COVID-19 Resources, Drill Deeper Blog
Ten years after the Deepwater Horizon oil spill, marine operators are now facing a new challenge: how to safely continue operations during a worldwide pandemic. Aside from the overarching risk to the health of their employees, exposure to COVID-19 can also result in...Apr 20, 2020 | Articles, COVID-19 Resources
As the COVID-19 crisis continues, companies should check to see if their agreements allow for termination or nonperformance upon the occurrence of a “material adverse change” or “material adverse effect” (often called a MAC). MAC clauses are...