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Rome I to be applied from 17 December 2009

 

If you would like further information on Rome I and its impact on commercial parties, please do let us know.

From 17 December 2009, the courts of all EU Member States other than Denmark will apply Rome I, a new EU Regulation, to determine the governing law of contracts entered into on or after that date.

As clients who attended our recent seminar on this subject will be aware, although in some respects Rome I does not differ greatly from the rules previously applied by the English courts for the purposes of determining governing law, there are nevertheless some important changes which will have practical implications for commercial parties. In particular, whilst the application of Rome I will not necessitate a change in approach in relation to the drafting of governing law clauses, it may well result in law firms amending their formal legal opinions on transactional documents to highlight the circumstances in which a choice of law may not be upheld by the courts (some of which differ slightly from the position under the old regime).

We have produced a bulletin and a short (15 minute) webcast summarising the key provisions of this legislation. If you wish to obtain a copy of either the bulletin or the webcast, please contact Kate Burnham kate.burnham@allenovery.com, or tel +44 (0)20 3088 3528. If you are a client and would like further details about Rome I and its potential impact, please contact either Sarah Garvey sarah.garvey@allenovery.com, or tel +44 (0)20 3088 3710 or Karen Birch karen.birch@allenovery.com , or tel +44 (0)20 3088 3737.

 

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