As a part of its coronavirus response, the European Council adopted a regulation on establishing the Support to mitigate Unemployment Risks in an Emergency (SURE) on 19 May 2020. The financial support is available for
On Saturday, August 8, 2020, President Trump unilaterally issued one executive order (which is law if the Constitution or a statute gives the President the power to issue such order) and three memoranda (whereby the
Businesses, individuals, cities, schools and other entities face financial problems due to the COVID-19 outbreak, including potential cash flow problems, loan defaults, workouts or even bankruptcy. But if the person or entity has a cell
The Covid-19 crisis confirmed and accelerated the recent trend in Western countries to strengthen the foreign direct investments (or “FDI”) screening regulations (see our Newsletter dated March 2019). Indeed, France decided to broaden the scope
With a bankruptcy also comes the trustee’s assessment of whether the management has acted grossly unjustifiable and therefore should be declared bankruptcy quarantine. Read here how to best insure against a bankruptcy quarantine if your company
FIRST PUBLISHED ON 05.12.2020 – The U.S. Small Business Administration (“SBA”) recently released a supplemental Interim Final Rule answering a number of additional questions regarding the Paycheck Protection Program (“PPP”). MORE.
The Government has published its roadmap – click here to read it in full. The Government describes the process of coming out of lockdown as moving into ‘phase 2’ which it describes as the gradual
Often you would hear from financial planners and read articles about how asset allocation and rebalancing is one of the key disciplines for financial planning. With the arrival of COVID-19, we have seen many clients
Commentators, economists and government officials are struggling to come up with sufficiently-hyperbolic language to describe the economic fallout from the shuttering of the world economy in the wake of the COVID-19 pandemic. Words such as
FIRST PUBLISHED ON 04.23.2020 – A great deal has been written (including by the authors of this article) about the immediate legal issues businesses faced at the outset of the COVID-19 pandemic. While the pandemic
The government has provided temporary relief against winding up petitions for companies between 23 April 2020 to 31 December 2020 (“Prescribed Duration”). This has come about by increasing the minimum amount of indebtedness needed for
In our 25 March 2020 Alert titled COVID-19 Insolvency Update: Temporary Relief for Financially Distressed Businesses we highlighted the then proposed urgent amendments to the Corporations Act 2001 (Cth) (Corporations Act) and the Bankruptcy Act 1966
Lawyers have a saying, “Bad Facts Make Bad Law.” Recent Small Business Administration guidance regarding the Paycheck Protection Program proves it true in one more case. Even as Congress moves to approve additional funds to
The European Central Bank (“ECB”), European Banking Authority (“EBA”) and the Malta Financial Services Authority (“MFSA”) have addressed certain matters of interest to banks, financial institutions and consumers concerning the economic impact of COVID-19 on the
On March 9, 2020, Governor Mike DeWine signed Executive Order 2020-01D, declaring a state of emergency in Ohio to protect the well-being of Ohioans from the dangerous effects of COVID-19. In part, the Executive Order
Healthcare providers should note that HHS has deposited funds in many of your bank accounts. The funds are from two programs, the CMS Accelerated and Advance Program and the CARES Act Provider Relief Fund. The
FIRST PUBLISHED ON 04.16.2020 – As discussed in our previous alert, Annual Meetings in a World Without Meetings: The Impact of COVID-19 on Public Companies, on March 13, 2020, the Staff of the Division of Corporation
Today, the Treasury Department and Small Business Administration announced that the Paycheck Protection Program, offering forgivable loans to help small businesses weather the COVID-19 crisis, has used up the $349 billion pool of funds initially
Economically speaking, the Corona pandemic is hitting the German Bundesliga football clubs extremely hard. By suspending the matches, the clubs lose the basis of their income sources. It is uncertain whether and when the clubs
Following Ontario’s recent Order suspending limitation and procedural time periods, there has been some uncertainty regarding whether liens in Ontario continue to expire in the ordinary course. The Attorney General has now confirmed that they
Now that the Payroll Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program are assisting small businesses, the U.S. Treasury Department and Federal Reserve (Fed) are turning their attention to mid-sized businesses by launching
Last Thursday (04/09), the Plenary of the Chamber of Deputies approved a Bill that authorizes the suspension, for 90 days, of the inclusion of new registrants in negative registrations such as Serasa and SPC. The measure
FIRST PUBLISHED ON 04.11.2020 – On April 9, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced the details of the Main Street Lending Program (Program), authorized under Section 13(3) of the
FIRST PUBLISHED ON 04.03.2020 – The Parliament has just passed a new emergency law, which allows the Minister of Business and Industry to extend the deadline for submission of annual reports by up to three months.
On April 9, 2020 the Federal Reserve announced it was taking additional actions to provide up to $2.3 trillion in loans to support the U.S. economy, including: support for the Small Business Administration’s (SBA) Paycheck
On April 6, 2020, the Department of the Treasury issued a set of answers to frequently asked questions, intending to clarify the operation of the Paycheck Protection Program (PPP). This is the forgivable small business
The European Central Bank (“ECB”), European Banking Authority (“EBA”) and the Malta Financial Services Authority (“MFSA”) have published a number of communications to inform banks and consumers of the measures proposed by national governments and EU bodies
With the “Law on Mitigation of the Consequences of the COVID 19 Pandemic in Civil, Insolvency and Criminal Law”, extensive measures were initiated to mitigate the economic consequences of the spread of SARS-CoV-2 and to
The Morrison Government has announced temporary changes to the foreign investment review framework by removing the existing thresholds for foreign investments in Australia which are subject to the Foreign Acquisitions and Takeovers Act 1975 (Act).
The U.S. Department of Housing and Urban Development (HUD) has recently announced a tailored set of mortgage payment relief options for single family homeowners with Federal Housing Administration (FHA) insured mortgages. HUD’s announcement is part
Data privacy. Tax strategy. Contract negotiations. Employment matters. Trade concerns. Legal disputes…
In the face of the COVID-19 pandemic, you need answers to keep your business running during the crisis — and thriving after the battle is won.
Data privacy. Tax strategy. Contract negotiations. Employment matters. Trade concerns. Legal disputes…
In the face of the COVID-19 pandemic, you need answers to keep your business running during the crisis — and thriving after the battle is won.
