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

January 21st, 2021 by Sergio Muñoz Sarmiento

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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