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IP Filing Deadlines Extended Under CARES Act
Dykema, April 2020

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the United States Patent and Trademark Office (USPTO) Director may modify certain patent and trademark-related deadlines where the COVID-19 outbreak has either prejudiced applicants’ rights or interfered with the filing of a document or fee payment. The Acting Register of the Copyright Office is also granted expanded authority under the CARES Act for modifying certain copyright-related deadlines...

New Compliance Measures for Legal Entities Related to the Criminal Offense of Fraudulent Obtaining of Benefits by COVID-19
Carey, April 2020

On April 6, 2020, Law No. 21,227 came into force, allowing access to unemployment insurance benefits under Law No. 19,728, in exceptional circumstances. This law, in its Article 14, Title III "Final Provisions", provides for a new criminal offense consisting of fraudulently obtaining supplements, benefits and / or profits due to the pandemic caused by Covid-19...

COVID-19 Advice: Post-Default Enforcement Against Equity Collateral
Haynes and Boone, LLP, April 2020

The pledge of equity interests of a privately held company as collateral is a common occurrence in a wide variety of financing structures. What is not as common perhaps is for secured creditors to analyze, at the initial stages of a transaction, the road maps that may serve to mitigate any meaningful delays or diminution in the value of such collateral in a foreclosure scenario...

Merger Control During the Epidemic
Wardynski & Partners, April 2020

In light of the difficulties associated with the coronavirus epidemic, and joining the global trend under the hashtag #flattenthecurve, competition authorities around the world, including Poland, are introducing, more or less officially, extraordinary operating procedures to avoid spreading the coronavirus. This can have amajor impact on proceedings before these authorities, including filing and consideration of applications seeking approval of concentrations...

Cooperation Between Competitors During the Crisis
Wardynski & Partners, April 2020

One method companies have of dealing with the crisis is to cooperate with their rivals. But before entering into such cooperation, it is worth examining whether it constitutes aconspiracy subject to sanctions from the national competition authority, the European Commission or other antitrust bodies...

President of UOKiK at War with Price-Gougers
Wardynski & Partners, April 2020

The president of the Office of Competition and Consumer Protection (UOKiK) has declared war on sellers unfairly raising prices of products during the COVID-19 pandemic. One of the instruments proposed by the regulator in combating this pathology is establishment by the Ministry of Development of maximum prices and margins on products essential from the perspective of consumers’ interests (a change included in the recent amendment to the Anti-Crisis Act)...

Anti-Crisis Shield and UOKiK Proposals for (Temporary) Tough Times
Wardynski & Partners, April 2020

The amendment to the Anti-Crisis Act includes proposals drafted by the Office of Competition and Consumer Protection (UOKiK), intended to increase the financial security of households, ensure access to vital goods and services, and combat price speculation and unjustified increases...

Pennsylvania Announces COVID-19 Action Portal
Spilman Thomas & Battle, PLLC, April 2020

On Monday, April 6, 2020, Pennsylvania Governor Tom Wolf announced the Pennsylvania Manufacturing Call to Action Portal, which allows businesses to help their bottom line while also helping Pennsylvania fight back against COVID-19...

Corona and the Adoption of Annual and Consolidated Financial Statements, in Particular Relating to the Supervisory Board's Financial Statement Meeting
Heuking Khn Ler Wojtek, April 2020

Current status: March 31, 2020 Increasingly far-reaching restrictions with respect to the COVID-19 virus also bring to light the issue of timely drafting, auditing, adoption, and publication of annual and consolidated financial statements, in particular for listed companies. This against the background that capital market-oriented companies, i.e...

Consumer Finance and COVID-19 New Regulations and Guidance
MinterEllisonRuddWatts, April 2020

The Government has provided guidance on the regulation of consumer finance following the disruption caused by COVID-19. Parliament passed theCredit Contracts and Consumer Finance (Exemptions for COVID-19) Amendment Regulations 2020(Amendment Regulations) on 31 March 2020. The Commerce Commission (Commission) has also releasedguidancefor lenders operating during the COVID-19 pandemic (Guidance Document)...

A New Wave of Insolvencies? Possible Preventive Restructuring Measures in the Implementation of the European Directive on Preventive Restructuring
Nestor Nestor Diculescu Kingston Petersen, April 2020

This legal analysis focuses on the typical case of a company that although it is not directly targeted by the measures established in order to prevent the spreading of the novel coronavirus, it still registers a decrease of demand, of the level of proceeds and of the production of goods and services...

New Measures Implemented by the UAE Authorities in Response to COVID-19
Afridi & Angell, April 2020

This supplements our inBrief dated 3 April 2020, which reported on measures implemented by the UAE authorities in response to COVID-19 up to 9:00 a.m. that day. Many new measures have been introduced since then. We now report on new measures taken up to 9:00 a.m. on Monday 6 April 2020...

CARES Act Relief Checklist: Considerations in Deciding What Relief is Right for Your Business
Haynes and Boone, LLP, April 2020

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) offers relief to businesses affected by COVID-19 through various programs, including forgivable loans and federal income tax credits. However, the CARES Act prevents businesses from claiming certain benefits that are considered duplicative...

The European Commission Strengthens the Temporary Framework on State Aid
Gianni, Origoni, Grippo, Cappelli & Partners, April 2020

The new measures adopted by the European Commission Last Friday, the European Commission (“Commission”) has adopted an amendment to existing State aid rules to widen the perimeter of the national measures which can be authorized based on the exceptional legal framework to cope with the current crisis. a. In particular, the Commission considered the following measures:a. More support for research and development related to the current health crisis...

Panama Creates a Beneficial Owner Registry
Morgan & Morgan, April 2020

By Law 129 of 17 March 2020 (hereinafter, the “Law”) the Republic of Panama established the regulatory framework for a restricted database named “Sistema Privado y Único de Registro de Beneficiarios Finales de Personas Jurídicas” (in English, Private and Unique System of Beneficial Owners of Legal Persons and hereinafter, the “Registry”) to collect certain basic information of the beneficial owner(s) of trusts and legal entities incorpora

COVID-19: Deferrals of Banking Loans Second Aid to Citizens, Firms and Self-Employed Entrepreneurs
Cechova & Partners, April 2020

Since the beginning of the SARS-CoV-2 pandemic, the deferrals of loan payments and other payments (such as leasing payments, etc.) have been provided by credit institutions or other financial institutions voluntarily, upon their negotiations with debtors, upon their discretion and within the formal process for approval of deferred payments with a potential future negative effect on the credit score of the debtor...

COVID-19: Guarantees for Bank Loans and Loan Interest Bonifications as Financial Aid to SMEs Extraordinary Measures in Financial Market Supervision
Cechova & Partners, April 2020

Guarantees for bank loans and loan interest bonifications were introduced as afinancial aid to small and medium-sized enterprises (“SMEs”) to be provided by the state under Act on certain extraordinary measures in the area of finance in relation to the spread of dangerous contagious human disease COVID-19 that was adopted by the National Council of the Slovak Republic on 2 April 2020 (the “Act”)...

SEC Issues Sweeping Proposal to Simplify Private Securities Offerings Regulation
Waller, April 2020

On March 4, 2020, the Securities and Exchange Commission (SEC) issued a massive, 341-page release proposing “a set of amendments that would harmonize, simplify, and improve the exempt offering framework to promote capital formation and expand investment opportunities while preserving and enhancing important investor protections...

OCR Issues Cyber-Security and Scam Alerts Amid Coronavirus
Waller, April 2020

Not only are healthcare providers under attack in the daily battle against the coronavirus, criminal actors are quickly taking advantage of relaxed HIPAA enforcement and standards, teleworking and the general intensity of the situation to exploit patient and other confidential information...

COVID-19 Extensions for Trademark Office
Spilman Thomas & Battle, PLLC, April 2020

In response to the COVID-19 pandemic, the Director of the U.S. Patent and Trademark Office authorized relief for trademark applicants, registrants, and parties to Trademark Trial and Appeals Board ("TTAB") proceedings. The Notice of Waiver provides a 30-day extension of time from the initial date it was due, for deadlines falling between March 27, 2020 and April 30, 2020. The filing must include a statement that the delay in filing or payment was due to the COVID-19 outbreak...

SBA Issues Further Guidance Concerning the Paycheck Protection Program
Waller, April 2020

While most of the PPP under the CARES Act remains substantially unchanged by the SBA’s guidance issued late on April 2, there is one material alteration that will affect all borrowers under the program. Under the CARES Act, loan proceeds under the PPP could be used for payroll costs, mortgage interest, rent, utilities and interest payments on other debt obligations. While those use of proceeds have not changed, the guidance placed a limitation on them...

Government Issues Relief for Directors and Companies from Insolvency Provisions in the Companies Act 1993
MinterEllisonRuddWatts, April 2020

MinterEllisonRuddWatts welcomes the announcement made by the Government today of a number of measures to support businesses during the uncertainty created by COVID-19. The reforms provide flexibility in the application of certain directors' duties in the Companies Act 1993 and implement an accelerated mechanism for companies to request a moratorium on the payment of debts...

UK Measures to Contrast COVID-19
Gianni, Origoni, Grippo, Cappelli & Partners, April 2020

Introduction The UK government has recently adopted a series of recommendations aimed to face the Coronavirus outbreak due to the rise in the number of infections and deaths caused by this virus. The strict approach of the UK Government would be in line with the measures adopted by the other countries in Europe, such as Italy or Spain...

New Law Modifies 30-Days Payment System
Carey, April 2020

On April 3rd, 2020, a new Law that amends Law No. 19,983, which regulates the transfer and grants direct enforceability to the copy of invoices, on certain aspects that were recently amended by Law No. 21,131 on 30-days payment, was enacted . The most relevant modifications introduced by this Law aim to benefit small sized businesses (micro, small and medium sized businesses as per defined in Law No...

Law No. 21.225 to Support Families and Micro, Small and Medium Enterprises due to COVID-19 and Procedure for Obtaining and Recovering Passwords
Carey, April 2020

Law No. 21,225 to Support Families and Micro, Small and Medium Enterprises due to Covid-19   On April 2, 2020, Law No. 21,225, which materializes some of the measures of the Emergency Economic Plan announced by the Government of Chile last Thursday, March 19, was published. The measures contained in this law are the following: Family Income Support Bonus for recipients of certain family subsidies and individuals or families from the most vulnerable 60% of the population...

 

 

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