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Bulgaria COVID-19 Tracker
Boyanov & Co., July 2020

Business in Bulgaria is experiencing a challenging legal environment in the context of rapidly changing emergency measures dealing with the COVID-19 pandemic. We have prepared a summary of the key legal measures affecting business in the BULGARIA COVID-19 TRACKER. It will be updated daily, as necessary. Please check regularly for updates. If you have questions, please contact a member of our C19 Task Force...

Measures Taken by the National Customs Service Regarding Covid-19
Carey, July 2020

Regulation Considering the Covid-19 pandemic and Chile's declaration of a State of Disaster, the National Customs Service (Servicio Nacional de Aduanas, "SNA") has issued certain regulations to facilitate foreign and domestic trade operations electronically and to protect the health of all people involved in its operations. Below you will find a description of the regulations currently in force and effect: A. Circular Letter No...

Indo-Japanese Business Corridor- Foreign Entities Acquiring Real Estate in India
Kochhar & Co. Advocates & Legal Consultants, July 2020

Overview - The article lays forth the framework of laws concerning acquisition of real estate in India. The Constitution of India has empowered both Union Government (as known as the Central Government) as well as the State Governments to legislate laws dealing with various facets of immoveable property in India...

Bridging the COVID-19 Liquidity Gap: New Political Agreement regarding Danish State Guarantee Schemes
Plesner, July 2020

On 15 June 2020, a political agreement was reached between the Danish Government and a number of Danish political parties regarding gradual phase-out of certain existing COVID-19 aid packages which are to be replaced with a comprehensive economic recovery package designed to boost the Danish economy following the outbreak of COVID-19...

S Corporations, Partnerships, and LLCs
Bradley Arant Boult Cummings LLP, July 2020

The owners of multistate businesses must consider a multitude of factors when deciding how to structure their business ventures, and state taxation cannot be overlooked. The accompanying charts can assist in that evaluation for limited liability companies (LLCs) and limited liability partnerships (LLPs). In recent years, LLCs and, to a lesser extent, limited partnerships and LLPs, have become the popular choice for structuring or re-structuring multistate business entities...

Merger Control Regime in Malaysia
Shearn Delamore & Co., June 2020

Many jurisdictions have put in place legislation to regulate merger activities. There have been discussions that it is high time for Malaysia to implement a general merger control regime under the Malaysian Competition Act 2010. As it presently stands, general merger activities which do not fall within two specific sectors (will be discussed below) are not regulated and no prior sanction is required from the Competition Commission before a merger transaction takes place...

Why Incorporate your Startup in Panama?
Morgan & Morgan, June 2020

In the corporate world, there is a novel type of enterprise labeled “startup,” which is known for its rapid growth, partly, because of the fact that it is highly related to the general use of information and communications technologies (ICTs) and the latest business trends...

Unprecedented: COVID-19 Litigation Trends, Issue 13
Spilman Thomas & Battle, PLLC, June 2020

This 13th edition of Unprecedented, our weekly update on COVID-19-related litigation brings new developments in everything from constitutional law to tort liability. Shutdown cases show no signs of slowing down, and it seems probable that more will follow as some states reverse reopening plans in response to coronavirus outbreaks...

Fed. Circ. Inserso Ruling Brings Bid Protest Considerations
Bradley Arant Boult Cummings LLP, June 2020

In a split decision with far-reaching implications for both government contractors and the private bar, the U.S. Court of Appeals for the Federal Circuit, in Inserso Corporation v. U.S., recently addressed timeliness and waiver issues in the bid protest context. The facts of this significant case, the majority and dissenting opinions, as well as key takeaways for federal contractors and their attorneys, are discussed below. The Facts The U.S...

Supreme Court Rules Against Termination of DACA
Dinsmore & Shohl LLP, June 2020

On June 18, 2020, the Supreme Court of the United States ruled that the Department of Homeland Security (DHS) did not follow appropriate administrative procedures to terminate the Deferred Action for Childhood Arrivals (DACA) program and, therefore, was unauthorized to do so. The decision was a 5-4 ruling, written by Chief Justice John Roberts and joined by Justices Ruth Bader Ginsburg, Elena Kagan, Stephen Breyer and Sonia Sotomayor...

Philippine Legislation in the Pipeline: Can They "De-contract" the Economy?
SyCip Salazar Hernandez & Gatmaitan, June 2020

Analysts predict that the Philippine economy may contract by as high as 9% in the second quarter of 2020...

Synthetic W&I Solutions Post Covid-19
Shoosmiths LLP, June 2020

We are seeing an increase in the use of warranty and indemnity insurance (W&I) on transactions, which is a theme we expect to continue as buyers target companies that are in financial distress in the wake of Covid-19. W&I has become commonplace in the UK M&A market as a way to ‘bridge the gap’ between buyer and seller when allocating risk...

The Commission for the Financial Market Dictates General Rule No. 443 that Exempts from the Presentation of Certain Documents in the Submissions Presented to the CMF for the Registration of Public Offers of Securities and Amends General Rule No. 30
Carey, June 2020

The Commission for the Financial Market (“CMF”), issued the General Rule No. 443, dated June 15, 2020 (the “NCG 443”), in order to establish the requirements to temporarily exempt from the presentation of certain documentation in the applications for registration of public offers of securities, and to permanently amend the General Rule No...

What Can Member States do to Financially Support their Undertakings Under EU State Aid Rules?
ALTIUS/Tiberghien, June 2020

The Covid-19 outbreak is not only a huge challenge for health care, but also has enormous consequences for the economy. Different sectors (such as the hospitality, tourism and transport sectors and many others) will not be able to overcome the difficult times that we are currently facing without public support. Many Member States have already adopted exceptional aid measures and many more will follow, but public support for undertakings must still comply with the EU State aid rules...

PPP: How is Maine Faring?
Verrill, June 2020

Originally enacted on March 27, the Paycheck Protection Program (PPP) offers loan support and (potentially) loan forgiveness to qualifying small businesses – generally defined as those with not more than 500 employees. According to the U.S. Census Bureau, just under half of all working Americans are employed by businesses of that size. Protection and maintenance of headcount and wage rates are the key objectives of the PPP program...

Executive Order Suspends Entry of Certain Visa Categories due to Coronavirus Outbreak
Dinsmore & Shohl LLP, June 2020

Effective June 24, 2020, a new executive order from President Donald Trump will go into effect, limiting the entry of certain categories of foreign nationals to the U.S. through December 31, 2020 ostensibly to protect the U.S. labor market as it recovers from COVID-19. The order focuses on suspending and limiting entry of foreign nationals who are currently outside of the U.S...

U.S. Copyright Office Issues Final Regulation Regarding Short Online Literary Works
Dykema, June 2020

The U.S. Copyright Office has issued a final regulation (37 CFR §202.4) permitting a single, “group” registration for “Short Online Literary Works.” To be eligible, each of the works included in the registration “must be published as part of a website or online platform, including online newspapers, social media websites, and social networking platforms...

Real Time COVID-19 Bulletin - Week of June 22-26
Brigard Urrutia, June 2020

Free way to different sports disciplines, among them, the practice of Golf. The Ministry of Sports issued Resolution 632 of 2020, approving the specific biosafety protocol for playing Golf that was presented by the Colombian Golf Federation. The protocol describes the measures that the clubs must implement on the golf courses for their reopening, for recreational practice, and exclusively covers the complex of facilities inherent in a standard golf course...

The Supreme Court Upholds the SEC’s Ability to Obtain Disgorgement
Lowenstein Sandler LLP, June 2020

In a long-anticipated decision, the U.S. Supreme Court this week upheld the Securities and Exchange Commission’s (SEC) ability to obtain disgorgement, provided the award does not exceed the wrongdoer’s ill-gotten gains and is returned to the victims. The Supreme Court’s decision came inLiu et al. v...

Latest Update on the Paycheck Protection Program Flexibility Act of 2020
Lowenstein Sandler LLP, June 2020

View our other alerts and articles on the SBA Paycheck Protection Program on our Coronavirus/COVID-19 resource page. This alert was originally published on June 4, 2020, and is being updated as new information becomes available...

Ohio Treasurer’s COVID-19 Community Response Initiative
Dinsmore & Shohl LLP, June 2020

In response to the financial impact of COVID-19 on local governments within the State of Ohio (State), the Ohio Office of the Treasurer has introduced the COVID-19 Response Initiative (Initiative). The purpose of the Initiative is to provide liquidity to local governments by accelerating fiscal year cash flows and easing revenue shortfalls as a result of COVID-19...

IRS Issues CARES Act Guidance for Retirement Plans
Hanson Bridgett LLP, June 2020

Key Points IRS guidance expands the definition of “qualified individual” for receiving a tax-favored coronavirus-related distribution (“CRD”) from a retirement plan and other plan changes under the CARES Act. The guidance confirms that plan changes under the CARES Act are optional, including the loan repayment delay, and provides a safe harbor method for implementing the loan repayment delay...

Catching Up To California: The U.S. Supreme Court Rules That Title VII Protects Gay and Transgender Applicants and Employees
Hanson Bridgett LLP, June 2020

Key Points Title VII prohibits discrimination based on sexual orientation and gender identity. The holding does not change currently-existing legal obligations for California employers as discrimination based on sexual orientation and gender identity is prohibited under the FEHA. California employers should ensure they are complying with FEHA’s posting and training requirements. On Monday, June 15, 2020, the U.S. Supreme Court published a long-awaited opinion, Bostock v...

Repricing Underwater Stock Options
Hanson Bridgett LLP, June 2020

Key Points Before undertaking a stock option repricing program, consider the tax impact on employees holding incentive stock options (ISOs) Additionally, consider the corporate and securities laws that govern repricing programs Introduction Stock options are a vital form of compensation at a wide range of privately-held companies.1 Stock options are intended to motivate employees to drive stockholder value and are used as an employee retention tool...

Municipal Advisors Granted Relief under SEC’s Temporary Conditional Exemption
Dinsmore & Shohl LLP, June 2020

On June 16, 2020, the Securities and Exchange Commission announced a Temporary Conditional Exemption for municipal advisors (MAs), which provides an exemption from certain broker registration requirements under Section 15 of the Securities Exchange Act of 1934. This order is in response to the disruption in the municipal securities markets resulting from the COVID-19 pandemic...

 

 

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