Sunday, March 7, 2021
 

Federal Court Rules “Covid-19 Pandemic is a Natural Disaster”

Finding in favour of Phillips Auctioneers LLC, Hon. Denise Cote of the Southern District of New York dismissed JN Contemporary Art LLC’s complaint against Phillips, holding that (i) “[i]t cannot be seriously disputed that the COVID-19 pandemic is a natural disaster”; and (ii) Phillips, therefore, did not breach its consignment and guarantee agreement with JN Contemporary when it invoked the force majeure provision[1] in the agreement to terminate the parties’ relationship.

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