Understanding Force Majeure And Related Issues

Law360, New York (June 28, 2011, 6:05 PM EDT) -- During the past year, the news abounded with stories about natural disasters causing enormous damages. Beginning in December 2010, a series of floods hit Queensland, Australia, causing over AUD$1 billion in damage and an estimated AUD$30 billion reduction in Australia’s GDP. On Feb. 22, 2011, a magnitude 6.3 earthquake struck New Zealand’s Christchurch, causing an estimated $12 billion in damage, making its New Zealand’s costliest natural disaster.

On the March 11, 2011, Tōhoku earthquake and tsunami, a 9.0 magnitude earthquake and accompanying tsunami with waves over...
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