Businesses Brace for an Increase in Litigation After COVID-19
24th May 2021
A new survey by Ernst & Young shows that “59% of corporate respondents expect claims to be higher than normal in 2021 as economic restrictions lift after the pandemic.”
“Over half of corporate respondents (56%) said that they anticipate legal claims and disputes will have a ‘material financial impact’ on their business, including one-in-seven companies (14%) who believe the pandemic-related claims they may face are a risk to their going concern status.”
In-house lawyers of large companies are anticipating Covid-19-related claims over alleged breaches of contract, fraud, insurance, and investment treaty disputes.
The survey can be found here.