The COVID-19 (coronavirus) pandemic has forced businesses throughout the Gulf Coast to adjust rapidly to maintain operations and fulfill contractual obligations. Local and national governmental authorities have imposed unprecedented travel and gathering restrictions (as well as forced business closures) that will affect companies in every industry. Since these measures will affect each industry differently, companies will need to determine whether force majeure provisions in various contracts may excuse or delay performance due to the pandemic. In addition, companies will need to determine whether to file insurance claims for losses resulting from business interruptions.
Rest assured, Phelps is prepared and committed to our community’s legal needs as the COVID-19 pandemic escalates. Below are steps and precautionary measures that Phelps can assist your business with during these uncertain times:
Although the coming weeks and months will be uncertain, taking precautionary measures now will provide the flexibility needed to ensure that your business survives these tough times.
Phelps has and will continue to adapt to these complex and changing circumstances and is prepared to assist our clients to do the same.
Please contact Bart Bacigalupi or Phil Claverie, Jr. if you have any questions regarding these considerations.