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That Un-Masked Man: Can a Business Ask a Customer Who Refuses to Wear a Mask Because of a Disability to Leave?
Bradley Arant Boult Cummings LLP, August 2020

In the COVID-19 era, many employers and businesses are wrestling with unprecedented issues...

EU Recovery Prospectus - Planned Facilitation of the Equity Issuance through an Abridged Securities Prospectus
Heuking Kühn Lüer Wojtek, August 2020

In order to tackle the effects of the Corona crisis, it is planned at EU level to temporarily facilitate the raising of equity capital for companies. This will enable certain issuers to publish a shortened prospectus with only 30 pages instead of a full prospectus to issue shares. Through this, issuers will have the option to issue shares at short notice, without bureaucracy and inexpensively, thereby improving the debt-to-equity ratio in their balance sheets...

The Pros and Cons of the Small Business Reorganization Act of 2019
Bradley Arant Boult Cummings LLP, August 2020

Effective February 19, 2020, Congress enacted new bankruptcy legislation granting debtors the option to elect a new subchapter V of chapter 11 of the bankruptcy code (Subchapter V). This was made possible by the bipartisan legislation known as the Small Business Reorganization Act of 2019 (SBRA). 1 Small Business Reorganization Act (SBRA) of 2019, Pub. L. No. 11654, 133 Stat. 1079. Unless otherwise stated, all statutory references are to the Bankruptcy Code, 11 U.S.C...

Feasibility of Organizing a Startup as Limited Liability Entrepreneurship Company
Morgan & Morgan, August 2020

On July 22, 2020, the National Assembly approved, after a third debate, Draft Law No. 83 (the “Draft Law”), which regulates limited liability entrepreneurship companies (the “LLECs”) in Panama, and is now awaiting the signature (or veto) of the President of the Republic...

Superintendence of Non-Financial Regulated Persons Issues New Regulations in Relation to Attorneys and Accountants
Morgan & Morgan, August 2020

Panama, 24 July 2020. By means of Rule JD-01-2020, published in the Official Gazette No. 29076 of 24 July 2020, the Superintendence of Non-Financial Regulated Persons (SNFR) has established a set of rules and obligations imposed to attorneys and accountants whenever they incur in any of the regulated activities under Law 23 of 2015, which relates to prevention of money laundering, financing of arms of mass destruction and financing of terrorism...

Corporate Services Department Client Bulletin: Recent SEC Issuances
SyCip Salazar Hernandez & Gatmaitan, August 2020

This is a briefing of the latest COVID-19 related issuances of the Securities and Exchange Commission (“SEC”) as of 8 July 2020: A.1. Filing of General Information Sheet (“GIS”) and Audited Financial Statements (“AFS”) A.2. Extension of Deadline for Filing of AFS of Corporations within the Jurisdiction of SEC Cebu Extension Office B...

Coronavirus Digest: Patents and Other Intellectual Property Rights
PLMJ, August 2020

The world is desperately seeking a vaccine and treatments against COVID-19 and the answer will also be found in intellectual property. For this reason, PLMJ and Inventa International have joined forces to prepare a Digest on these issues that is continuously updated...

COVID-19 “Safe Harbour” Not for Sinking Ships
MinterEllisonRuddWatts, August 2020

Director’s personal liability for company tax debts On 10 July 2020, Inland Revenue issued a public ruling (the Ruling) considering the application of the asset stripping rules (under which directors and shareholders may be personally liable for company tax debts) in the context of the recently enacted exception to certain directors’ duties under the Companies Act 1993 (the Safe Harbour)...

Buchalter COVID-19 Client Alert: Doing Business with a Customer in Bankruptcy in the Time of COVID-19: Administrative Expense Claims—Take Them to the Bank or Throw Them in the Write-Off Bin?
Buchalter, August 2020

It is no secret that business bankruptcies are surging in the wake of the COVID-19 pandemic. In fact, chapter 11 filings increased 26% in the first half of 2020,[1] and some expect the number of cases to increase even more in the coming months.[2] From retailers to airlines to telecommunications companies, few sectors of the economy are immune. As a result, more and more businesses will face the prospect of one or more of their customers filing chapter 11...

When is a Financial Institution not a Financial Institution? When it’s Wirecard
TSMP Law Corporation, August 2020

How Wirecard skirted regulatory scrutiny by jurisdiction-shopping and canny intra-group structuring. It would have been the quintessential business success story. Founded in Munich in 1999, this small payment processor for online gambling and pornography sites grew so massive that, by 2018, it had displaced Commerzbank from Germany’s prestigious Dax 30 index. At its peak, the juggernaut was valued at more than €24 billion (S$38.6 billion)...

Buchalter COVID-19 Client Alert: Main Street Lending Program and Other Federal Reserve Emergency Lending Facilities Extended to December 31, 2020
Buchalter, July 2020

On July 28, the Federal Reserve announced that many of its emergency lending facilities, including the Main Street Lending Program’s New Loan Facility, Priority Loan Facility, Expanded Loan Facility, Nonprofit Organization New Loan Facility and Nonprofit Organization Expanded Loan Facility, are being extended to December 31, 2020.  The facilities were previously scheduled to be available until on or about September 30, 2020...

Unprecedented: Guiding Organizations Through COVID-19
Lawson Lundell LLP, July 2020

Unprecedented. Have you heard that word a lot in the past 4-5 months? Not surprisingly, the word ‘unprecedented’ is the default word to describe society’s reaction to COVID-19, its effects on our healthcare systems, our behaviours, our compliance (or not) with government directives and guidelines, and the impact to our economy and economic well-being. This is, in our lifetimes, the most rapid response to a threat on a global level...

Panama: The World of Turnkey Contracts, Partial Payment Accounts and Certificates of No Objection
Morgan & Morgan, July 2020

For a long time, we have heard in different social media, for various reasons, some more positive than others, information related to Turnkey Contracts and the State indebtedness resulting from the Partial Payment Accounts (in Spanish, “Cuentas de Pago Parcial”) and Certificates of No Objection (in Spanish, “Certificados de No Objeción”)...

Boring but Important: New Law Requires Applicant Type and Place of Incorporation on Trade Mark Filing
Deacons, July 2020

Did you know? The Trade Marks (Amendment) Ordinance 2020 (the “Amendment Ordinance”) recently came into effect in Hong Kong on 19 June 2020. The purpose of the legislation is to bring in the Madrid Protocol in Hong Kong and also to enhance the trade mark registration system...

The Creation of a Startup in Panama
Morgan & Morgan, July 2020

An entrepreneur has a lot to consider when starting a new business...

Evolving M&A Trends: Private Equity Transactions Amid the COVID-19 Crisis
DFDL, July 2020

This article first appeared on the website of the Corporate and M&A Law Committee of the Legal Practice Division of the International Bar Association (here), and is reproduced by kind permission of the International Bar Association, London, UK. © International Bar Association.  The Covid-19 pandemic has pushed countries across the world into an unprecedented humanitarian and economic crisis...

Buchalter COVID-19 Client Alert: Lenders May Submit PPP Forgiveness Applications to SBA on August 10; SBA Issues New Procedural Notice with Guidance for Lender Forgiveness Review/Submission
Buchalter, July 2020

On July 23, SBA announced that lenders may begin submitting PPP loan forgiveness requests to SBA on August 10.  To assist lenders, SBA issued a Procedural Notice with new guidance regarding lenders’ reviews of forgiveness applications.  The Notice may be found here:  https://www.sba.gov/sites/default/files/2020-07/5000-20038.pdf The Notice reaffirmed forgiveness guidance and rules previously issued...

Two Useful Alternatives for COVID-19 Triggered Business Insolvencies
Durham Jones & Pinegar, July 2020

The COVID-19 pandemic has triggered and will continue to trigger a “tidal wave” of business bankruptcies involving businesses both large and small.  Certain commentators have described the anticipated “tidal wave” of business bankruptcies as a “bankruptcy tsunami.”  In the three-month period between March 1, 2020 and May 31, 2020, a total of 1,812 Chapter 11 bankruptcies were filed in the U.S...

“Relaxing Penalties”? Sounds Like an Oxymoron
Deacons, July 2020

Did you know? The Hong Kong courts are now relaxing the legal test on what is a “penalty” to allow a wider range of agreed damages in commercial contracts. Why does this matter to you? It is notoriously difficult and time consuming (not to mention costly!) to assess damages for breach of contract which must be proved by the innocent party...

Data Protection Authorities Set Out Expectations in Open Letter to VTC Companies
Deacons, July 2020

On 22 July 2020, data protection authorities from Australia, Canada, Gibraltar, Hong Kong, Switzerland and United Kingdom (together the Authorities), issued an open letter (Letter) on global privacy expectations of video teleconferencing companies (VTC companies)[1]. Why there is such a Letter? As a result of the COVID-19 pandemic, the Authorities have witnessed an increasing use of VTC tools, both in social and business contexts...

New Limited Partnership Fund Regime in Hong Kong
Deacons, July 2020

The Limited Partnership Fund Bill which provides for registration of eligible funds as limited partnership funds (LPFs) in Hong Kong passed the third reading at the Legislative Council on 9 July 2020. The Limited Partnership Fund Ordinance (LPFO) will come into operation on 31 August 2020...

Buchalter COVID-19 Client Alert: Bay Area Businesses Face Uncertainty Over Conflicts Between State and Local Reopening Guidelines
Buchalter, July 2020

On July 17, San Francisco Mayor London Breed announced that due to a rapid rise in new COVID-19 cases in the last month, and because San Francisco was listed on the State’s County Monitoring List (the “Monitoring List”) for three consecutive days, San Francisco was halting all reopening procedures indefinitely beginning on Monday, July 20...

Ten Legal Considerations When Starting a Hemp Business
Bradley Arant Boult Cummings LLP, July 2020

So, you want to start a hemp company. You have your big idea and a business plan ready. At some point, though, you begin to wonder whether you should be thinking about any legal issues as you get your company off the ground. That’s where we come in. Bradley’s Cannabis Industry team has a deep understanding of the many unique legal and business issues that impact hemp companies...

China Effectively Strengthens Fight Against Malicious Trade Marks
Han Kun Law Offices, July 2020

A focus for Chinese trademark law and practice in recent years has been strengthening the fight against malicious trademarks...

Top 10 Tips for Virtual Brown Act Meetings
Hanson Bridgett LLP, July 2020

In the Loop: With the Hanson Bridgett Government Group COVID-19 has changed the way California public agencies conduct their Brown Act meetings, creating new challenges and opportunities. Utilizing their experience serving as general counsel to a number of public agencies, Hanson Bridgett attorneys Claire Collins and Allison Schutte created their Top 10 list of recommendations on how to conduct virtual "Brown Act" Board Meetings to guide any public agency. 1...

 

 

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