There are an awful lot of Dangerous Professionals right now thinking very carefully about a) whether coronavirus is force majeure , b) whether that answer depends on local circumstances or could change, and c) whether there should be an oracle for this question in future.
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“You’re being very opaque.” An asset back security’s funds flows are at the base determined by layers of contracts which treat below layers of contracts as atoms, etc etc etc, and in principle any layer could be litigable, but in practice, it’s N eng teams and M ops teams.
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Judge: You have to X. Ops: I have no button which does X. Judge: I. Am. A. Judge. Ops: Do you build buttons, Your Honor? (Which will never actually be said, but, this has basically happened, including during financial crisis cleanup.)
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