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July 5, 2016, CDR News
Peter Camesasca and Alex Leitch are quoted in a CDR article regarding the long-term effects of Brexit on the courts, including uncertainties over enforcement. According to Camesasca, “This will not be immediate. Companies are not making any immediate decisions about litigation in the wake of the Brexit vote. Most are in ‘wait and see’ mode.” He continues, “But as the positions of the UK and the EU become apparent, the potential ‘battle lines’ will become clearer. The dynamic will probably resemble, in terms of the uptick in litigation, the 2007 crash.”
According to Leitch, parties will not just be reacting to Brexit’s impact on their existing business relationships; it will also open the door for opportunistic behaviour. Commercial clients will seize the opportunity to use Brexit to alter or sever unfavourable contracts. “Inevitably, commercial parties who consider that they are tied to a bad commercial bargain are likely to try to use Brexit-type issues, those are force majeure, material adverse change, illegality and so on, as opportunities to try to renegotiate, or even bust out of bad deals,” he says.