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The imperial EU is blind to the folly of its unequal Northern Ireland Brexit treaty
The protocol isn’t a just law. It was imposed on the UK by Brussels at the moment of our greatest weakness
9 June 2021 • 9:30pm
Why don’t the European elites ever learn lessons from history? It should be obvious that the Northern Ireland Protocol, signed under duress by the UK, cannot last in its present state. The only questions are what replaces it, how quickly and whether it is enough to restore the province’s fragile balance and save the Good Friday Agreement. The idea that the EU will be able to keep the protocol alive by threatening Britain with a trade war merely confirms the scale of Brussels’s delusion.
Material Adverse Effect clauses
The importance of a textual analysis of the contractual language in ascertaining the meaning and effect of Material Adverse Effect (MAE) clauses was emphasised in
WEX entered into a share purchase agreement with Travelport to acquire two companies that provided virtual credit and payment services to the travel payments market. Under the MAE clause, conditions resulting from a pandemic could only be taken into account if they had a disproportionate effect on the target companies as compared to other participants in the industries in which the target companies operated.
Travelport sought to avoid the transaction by invoking the MAE clause and argued that the relevant industry for comparison was the “travel payments industry”. The court disagreed, holding that the word “industry” suggested a broad pool of participants. It also found that the “travel payments industry” was not a term in established use, but rather referred to informally and
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The courts of England are some of the most established for dealing with complex commercial litigation. The Civil Procedure Rules (CPR) that apply to civil litigation are robust and provide a clear framework for the cost-effective resolution of disputes – governing every aspect of cases from pleadings to evidence, witnesses and costs. Models of alternative dispute resolution are also well established. England boasts experienced professionals and practitioners and the courts operate specialist courts, such as the Commercial Court and the Technology and Construction Court, where judges have particular expertise.