It quotes Lord Phillips, another former Supreme Court president, as saying ‘parties should consider mediation, and conciliation should be encouraged at an early stage of legal proceedings’.
As part of this, there should be careful consideration of how the substantive law applies in this novel situation. Sir William Blair, a former Judge of the London Commercial Court, stressed that ‘new thinking is going to be required if the law is to play its full part in getting international commerce back on its feet – within the principle of legal certainty, space need to be found for renegotiation, and if the contract is no longer viable, equitable solutions’.
