Evening Event - An update on Iranian Sanctions Event of Default Clauses and Insolvency

Description:

Sarah Hunt and William Hold from Holman Fenwick Willan Switzerland LLP will be delivering this event. Sarah will be providing an update on the lifting of Iranian sanctions and William will be speaking on insolvency and event of default clauses.

Sarah will provide an update on the changes to the Iranian sanctions regime. She will review steps to be followed given counterparty sanctions concerns, using ex- amples. She will examine the issues that traders and banks now face in light of the latest changes and provide practical suggestions and advice on counterparty due diligence and in event of snapback. She will finish with recommendations for com- panies in a rapidly evolving sanctions environment with case studies based on Holman's experience.

William will discuss the importance of expressly including a clause anticipating in- solvency in event of default, and the difficulties that may arise if termination rights upon insolvency are suspensory. William will explore the options available to a par- ty if their contractual counterparty becomes insolvent and factors a party should consider before evoking their termination rights under an event of default clause. William will finish by discussing the enforcement of parent company guarantees where the subsidiary is insolvent.

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