WHAT TO DO WITH A SIGNED LONG-TERM CONTRACT WHEN FACED WITH AN UNFORESEEN CHANGE OF CIRCUMSTANCE AFFECTING COMPLIANCE WITH ITS TERMS

Let’s say, for the sake of argument, that you have signed a long-term contract. On 15 October 2014 the First Chamber of the Supreme Court issued Judgment 591/2014 in which the change of jurisprudential trend initiated by Judgment 333/2014 of 30 June 2014, in the interpretation of the rebus sic stantibus clause, came to fruition. … Continue reading WHAT TO DO WITH A SIGNED LONG-TERM CONTRACT WHEN FACED WITH AN UNFORESEEN CHANGE OF CIRCUMSTANCE AFFECTING COMPLIANCE WITH ITS TERMS