September, 2019 - Sanctions clause bites in respect of US secondary sanctions
In Lamesa Investments Limited v Cynergy Bank Limited [2019] EWHC 1877 (Comm) the English Commercial Court was asked to consider whether a party could be excused from contractual performance which could expose it to US “secondary sanctions”. The case is a useful reminder to consider the reach of relevant foreign sanctions and ensure contractual provisions are drafted with these in mind.