Government measures in key jurisdictions 3rd edition final - Flipbook - Page 44
Denmark
Insolvency
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The Danish government has not introduced any changes to insolvency legislation.
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The Danish government has not implemented any specific measures to reinforce contracts.
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While some countries have implemented specific legislation on force majeure, this is not the case
under Danish law. Accordingly, whether Covid-19 will constitute a force majeure event under
Danish law comes down to a case specific assessment of (i) the legal framework, contracts etc. of
the individual relationship, and (ii) the very specific matters surrounding each case of nonperformance, both in terms of geography, business sector and market conditions.
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However, part of the legislation adopted by the Danish government, as a consequence of Covid19, directly or indirectly affects contracts. As an example, the Danish government has
implemented two Executive Orders under which the Danish Medicines Agency has a right to
order Danish manufacturers, importers and
distributors to supply certain types of medical devices, personal protective equipment and
disinfectants to regions and municipalities against payment from the region or
the municipality. As the Danish Medicines Agency has a right to decide the terms of payment and
delivery, this may potentially have an impact on the companies’ ability to enter into other contracts
or fulfil existing contracts. Similarly, the Danish government has implemented an Executive Order
which gives the Danish Medicines Agency authority to i.e. decide that prices on medicine may not
rise.
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For additional information about Covid-19 as force majeure event under Danish law, view here.
•
For additional information about the Executive Orders under which the Danish Medicines
Agency can impose extensive obligations on companies, view here.
Has the government
made any changes
to insolvency
legislation?
Contractual
Issues
What measures
have been taken
to reinforce
contracts?
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Government measures in key jurisdictions