COVID-19: Company Meetings and Filings in the Current Situation (Updated 23 April 2020)
The government has introduced several measures to alleviate the impact of COVID-19 on business operations in Thailand, namely, several notifications to relax requirements and obligations on the part of business operators. These include, among others, the requirements for corporate entities to hold their annual general meeting and submit financial statements and reports to the authorities. We had earlier issued a Client Update on "COVID-19: Company Meetings and Filings in the Current Situation" on 9 April 2020. There have since been notable updates and developments in this area with regard to meetings via electronic media. Below is a summary of the updated measures and relevant guidelines as at 23 April 2020.
COVID-19: Force Majeure in Commercial Transactions in the Current Situation
The COVID-19 pandemic has caused a substantial impact on business operations in many industries. As the performance of contractual obligations becomes increasingly difficult, contractual parties should consider the potential legal impact and effect of the outbreak on their commercial contracts and agreements. A frequently asked question is what will happen to contracts and whether or not the performance of obligations can be delayed or suspended or would the parties be liable for losses in any event. In assessing these issues, parties should focus on force majeure clauses and how these apply to their contracts, and the options available in the absence of such contractual provisions. In this Update, we take a look at the rules of force majeure under Thai law, and whether it can be invoked in light of the pandemic.
COVID-19: Company Meetings and Filings in the Current Situation
The government has introduced several measures to alleviate the impact of COVID-19 on business operations in Thailand, namely, several notifications to relax requirements and obligations on the part of business operators. These include, among others, the requirements for corporate entities to hold their annual general meeting and submit financial statements and reports to the authorities. Below is a summary of these measures and relevant guidelines as at 9 April 2020.