Talks@Brickstone

Talks@Brickstone: Episode 012

Topic: Contractual Performance during Covid-19 Pandemic

Anchor: Obafemi Oluwayemi, Senior Partner, Axioms Solicitors

The recent outbreak of the coronavirus has quickly developed from a local to a global threat with tragic human losses that overshadow contemplations of its economic impact. However, the disease is likely to have a profound impact on business and underlying contractual relationships. It has been highlighted frequently that scenarios like the one we are currently witnessing bring the concept of force majeure into play. As a vital mechanism to excuse a party's nonperformance or justify termination of a contract, the question is: does the coronavirus constitute
force majeure?

In this episode, we discuss with Mr. Obafemi Oluwayemi, on the issues of contractual performance. Obafemi is the founding partner of Axioms Solicitors and has twenty years of experience advising clients mostly investment bankers on diverse financial transactions such as project finance, corporate finance, investment fund structuring, and general commercial transactions. He is currently undergoing a program of study for PhD in Law at the Centre for Petroleum Energy Economics and Law of the University of Ibadan. Prior to founding Axioms Solicitors, he was an Assistant Vice President in the Legal & Compliance Unit of the premier asset management and investment banking outfit in Nigeria, Asset & Resource Management Company Limited (ARM).

Obafemi has worked with Perchstone and Graeys and Udo Udoma & Belo-Osagie where he gained valuable experience advising international clients on the various aspects of doing business in Nigeria. It is interesting to note that prior to starting his career as a solicitor, Obafemi had practiced as a litigation lawyer in the law firms of Chief Gani Fawehinmi and Alpha Attorneys.

The recent outbreak of the coronavirus has quickly developed from a local to a global threat with tragic human losses that overshadow contemplations of its economic impact. However, the disease is likely to have a profound impact on business and underlying contractual relationships. It has been highlighted frequently that scenarios like the one we are currently witnessing bring the concept of force majeure into play. As a vital mechanism to excuse a party's nonperformance or justify termination of a contract, the question is: does the coronavirus constitute
force majeure?

In this episode, we discuss with Mr. Obafemi Oluwayemi, on the issues of contractual performance.  Obafemi is the founding partner of Axioms Solicitors and has twenty years of experience advising clients mostly investment bankers on diverse financial transactions such as project finance, corporate finance, investment fund structuring, and general commercial transactions. He is currently undergoing a program of study for PhD in Law at the Centre for Petroleum Energy Economics and Law of the University of Ibadan. Prior to founding Axioms Solicitors, he was an Assistant Vice President in the Legal & Compliance Unit of the premier asset management and investment banking outfit in Nigeria, Asset & Resource Management Company Limited (ARM).

Obafemi has worked with Perchstone and Graeys and Udo Udoma & Belo-Osagie where he gained valuable experience advising international clients on the various aspects of doing business in Nigeria. It is interesting to note that prior to starting his career as a solicitor, Obafemi had practiced as a litigation lawyer in the law firms of Chief Gani Fawehinmi and Alpha Attorneys.

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