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The next frontier: Offshore wind development in Asia
In the face of significant global headwinds in the sector, green shoots are emerging in 2025 for offshore wind in Asia after a turbulent 24 months.
As companies worldwide continue to assess and react to the outbreak of COVID-19, the consequences of the virus are increasingly having an impact on businesses on a global scale.
Beyond the obvious health concerns, the spread of coronavirus presents major challenges for many businesses, including the disruption to international supply chains and the effect on workforces, which will lead to challenges for some businesses in meeting contractual obligations and accessing sources of funding.
Whilst central banks across the world have promised to assist the stabilisation of the financial markets in order to ease the economic impact of coronavirus and the UK Government on March 3, 2020, announced measures to help businesses with short-term cash flow problems, including time to pay arrangements, it is apparent that businesses can expect disruption for some months to come. Certain sectors are likely to be more immediately impacted, such as the airline, hotel and tourism industries.
As a result of COVID-19, directors should consider the following risks:
The impacts on businesses can very quickly create issues for a company’s lenders. Banking documents may be breached in the short term where the business outlook and general disruption will trigger:
More worryingly, the disruption to businesses could cause a very sudden liquidity crisis and a borrower may well be looking to its lenders to provide liquidity in the short term.
We are able to assist businesses navigate the risks and advise as the legal obligations in the context of COVID-19 on a cross-border basis including:
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In the face of significant global headwinds in the sector, green shoots are emerging in 2025 for offshore wind in Asia after a turbulent 24 months.
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Charlotte Hillyard, Senior Innovation Lawyer in the Innovation Design and Technology team and one of Norton Rose Fulbright's Generative AI leads, will be sharing her insight at several prominent legal technology events in the coming week.
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We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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