Covid-19Mohammed Forrukh Rahman
ICC WHO SURVEY
We are pleased to invite your company to participate in the first global survey conducted by the International Chamber of Commerce (ICC), in collaboration with the World Health Organization (WHO) ‒ a major step in the private sector’s global response to COVID-19.
It will take only 3 minutes to help the WHO in the global fight against COVID-19.
Webinar on Covid-19 Impact & Risks Management
Events like sudden stop of all business leading to no productivity for a significant number of days causing revenue loss, unprecedented numbers of cancellation of orders, reduction of demand, delay in supply chain causing chain effect, declaration of stimulation package at 0% interest rate in few countries, projected GDP almost half compared to last year and other events like already large scale of layoff declared globally, non-availability of vaccine as yet & possible risk of recurrence,etc, indicates that a major recession is inevitable, demanding businesses to prepare for the several risks and cost cutting.
In order to manage such risks the businesses may consider taking several steps and implements a business continuity plan, taking into account relevant legal and regulatory obligations and so on. Failure to manage risks may lead to financial insolvency, which may lead to bankruptcy etc. The webinar is designed to analyse and highlight several legal and similar risks and benefit of managing such risk without delay.
This is a one and half hour event. The event will be live broadcast-ed using Zoom. Participants who are willing to join are required to do buy a ticket for joining, which is non-refundable Tk. 500/- by clicking buy the ticket link, through a secure payment system. Upon receipt of payment we will send you zoom participation ID and password. If you are not using Zoom, you may need to download it in your phone, laptop etc from app stores.
The event is organized by our (a) COVID-19 employment practice group (b) COVID-19 M&A, exit, corporate restructure practice group (c) COVID-19 Taxation, Trade, Finance practice group of Rahman’s Chambers and will be live conducted by our esteemed head of chambers, Mr. Mohammed Forrukh Rahman, Barrister at Law & Advocate, Supreme Court of Bangladesh.
Who should participate?
• Business owners
• Senior managements
• Employees and workers
• Bankers and NBFI personnel
• HR, legal and related professionals
• Persons interested
For Booking: Buy Tickets
FORMATION OF EMERGENCY COVID-19 PRACTICE GROUP
Our Firm has created three emergency practice groups to deal with the complexities being caused by COVID-19, namely, (a) Covid-19 Employment Practice Group, (b) Covid-19 M&A, Exit and Corporate Restructure Practice Group and (c) Covid-19 Taxation, Trade and Finance Practice Group, comprising of lawyers from different departments, teams. These niche’ practice groups sometimes also consists of non-lawyer personnel as Members for e.g. consultant, paralegal and management staff.
Legal Impact of corona-virus outbreak in business and trade in Bangladesh
- Possible breach and compensation claim against seller for delay in supply
- Possible breach and compensation claim by buyer
- Breach of carriage contract and other contracts
- Employment disputes.
- If contract provides, reliance on force majeure clauses in the proforma Invoice/sales contract and other contracts, is possible. If contract do not provide for such clauses it may not be implied into the contract.
- Alternatively, it may be possible to rely on the principles of frustration of contract due to impossibility of performance.
- Possible impact on Loan: Reliance on Bangladesh Bank Circular no. 05/19 of BRPD or any amendment thereof or any possible new circular may be possible, allowing reschedulement of loan.
- Insurance Arrangements: Need to check whether insurance policy covers such situation.
- Labour law: Layoff allowing payment of reduced salary etc & if the situation demands in extreme cases, retrenchment under labour law and/or unpaid long leave may be considered.
- Carriage contract: Exclusion of liability for Act of God may be relied upon.
COVID-19 Managing Risks: Finance
Our Covid-19 Taxation, Trade and Finance Practice Group prepared a bulletin on Managing Risks: Finance covering summary of circular issued by Bangladesh Bank.
Legal Impact of Corona Virus on Employment
Our labour law provides International Labour Organisation (ILO) convention based standard practice to deal with pandemic. It creates a mutually beneficial si…
For more information on COVID-19 please click: News and Events
For our publication on COVID-19 please click: Publication/initiatives
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