FBK Legal at Seminar Held by Electrocable Association
On 12 April, Elizaveta Kapustina spoke at a seminar titled “Modern Threats and Challenges for the Cable Industry” organised by the Electrocable Association that unites cable manufacturers and suppliers of materials for the cable industry.
The lawyer talked about judicial defence of businesses in the turbulent period. She covered such topics as indemnification in case of breach of contract, opportunities to terminate or modify contracts, including government contracts, and increase the contract price.
Citing real-life examples, Elizaveta explained how to qualify consequences of sanctions as force majeure. There is no established judicial practice concerning the current sanctions, that is why it is only possible to study cases related to the 2014 sanctions. According to the lawyer, the sanctions themselves, currency volatility and growing cost of equipment do not qualify as force majeure circumstances; contracts concluded after the sanctions were imposed will be considered with due regard to the risks known to suppliers and customers.
