• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • FR
Background Image
Bennett Jones Logo 100 Years
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events
New Energy Economy Series Business Law Talks Podcast Economic Outlook
ESG & the CIO Subscribe
Bennett Jones Centennial Menu
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 

Bryan Haynes in Globe and Mail on MAC Clauses During Pandemic

April 30, 2020

Bryan Haynes comments in the Globe and Mail on applying material adverse change (MAC) clauses in acquisition agreements during the pandemic. The Court of Queen’s Bench of Alberta is set to consider this rarely invoked term of contract law in a case over whether the COVID-19 pandemic and economic downturn amount to a material change that can be used to back out of a recent deal to acquire a company.

Bryan says, “The jurisprudence in Canada is quite sparse on this . . . It will be very interesting, first of all, to have a Canadian case on point, and secondly, a Canadian case that’s dealing with the current pandemic.” Bryan said that from what case law there is, buyers typically face an “uphill battle” in successfully invoking such clauses to terminate deals. “I think the court’s got a hot potato to deal with here.”

Bryan also says that the duration of the material change will be a factor in the Alberta case. “With the pandemic, we’ve seen the lockdown of the economy and a very sharp, dramatic downturn, but there’s a big question mark as to how long this will last. Probably over the course of the summer or early fall, the economy will be opened up . . . that will be an obstacle the buyer will have to overcome.”

Fall 2022 Economic Outlook: Managing Risks and Taking Action

Related Links

  • Insights
  • Media
  • Subscribe

Related Expertise

  • Mergers & Acquisitions

Recent Posts

In The News

Canadian Government Cannot Rely on More Borrowing to Fund Pledges

January 27, 2023
       

In The News

Why Ottawa's Plans to Restore Fiscal Balance Are On Shaky Ground

January 26, 2023
       

In The News

Canada Needs to Get Its Act Together on Growth

January 25, 2023
       

In The News

Canada's Spending Plans Will be Threatened by Higher Interest Rates and Looming Recession

January 25, 2023
       

In The News

David Dodge on Power Play: Canada's Fiscal Plan is Not the Full Story

January 25, 2023
       

In The News

Federal Government is Underestimating Risks of Recession and Higher Interest Rates

January 25, 2023
       

In The News

Government of Canada Plays "Hide the Deficit" in Fiscal Planning

January 25, 2023
       

Speaking Engagements

Extended Producer Responsibility and Single-Use Plastics Update

January 25, 2023
       

Articles

Trademark Litigation in Canada: WTR's Global Guide 2023

January 24, 2023
       
Bennett Jones Centennial Footer 100 Years
Bennett Jones Centennial Footer 100 Years
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones