La Repubblica – The extraordinary operations and the operation of the MAC clause

La Repubblica – The extraordinary operations and the operation of the MAC clause

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La Repubblica publishes today an article on the state of extraordinary operations in time of emergency by Covid-19 with the comment of the lawyer Andrea di Castri, partner of Andersen, on the applicability of the MAC clause, material adverse change.

Journalist Sara Bennewitz highlights how the coronavirus has had a significant impact on business acquisitions, corporate contributions, mergers and demergers. Citing some important transactions that have been stopped and postponed, the article in La Repubblica asked di Castri about the options open for companies. The lawyer points out that much depends on the clauses inserted in the contracts. In fact, the coronavirus falls under the MAC clause, material adverse change, which allows a contract to be invalidated or its terms to be re-negotiated.

According to di Castri, companies that signed a contract before January 2020 will have a good chance to invoke the MAC clause and thus obtain more favourable positions.