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Switching to E-commerce: Legal Checklist
ALRUD Law Firm, May 2020

The global spread of the COVID-19 coronavirus infection has led to significant changes in the Russian retail trade. This pandemic has forced millions of people to stay at home, avoid public places and, of course, buy less. To adapt to the new features of consumer behaviour, retailers need to promptly respond, adapt, or dramatically change their business processes and strategies...

A Guide to Contract Work During the Crisis
ALRUD Law Firm, May 2020

In times of the ongoing crisis, associated with the spread of the novel coronavirus infection (COVID-19), and the introduction of epidemiological requirements and restrictions, many businesses have faced difficulties with contractual performance, including the failure in supply, cancellation of scheduled events and often cutbacks in profits and the impossibility to perform monetary obligations...

How to Identify and React to Fraud in the COVID-19 Era
Spilman Thomas & Battle, PLLC, May 2020

As we have learned through our ghosts of recessions past, the vast majority of those who become unable to pay their debts in economic downturns are honest, but unfortunate, debtors. That said, we also have learned that an appreciable number of debtors start taking drastic measures to preserve their assets and associated lifestyles during these times, sometimes engaging in a shell game designed to conceal or otherwise understate their assets when creditors start knocking on their door...

Revisiting Bankruptcy Filing Papers
Spilman Thomas & Battle, PLLC, May 2020

With the expectation that bankruptcy filings will increase over the next few months, this might be a good time to revisit the documents filed with a bankruptcy filing and the information they provide. The focus today is on the Notice of Bankruptcy, Petition, Schedules and Statement of Financial Affairs, which are always filed. There are several other papers that may be filed (required or not), depending on the bankruptcy case...

Subchapter V and the Single Asset Real Estate Debtor in a COVID-19 World
Spilman Thomas & Battle, PLLC, May 2020

Over a year ago, Congress amended the Bankruptcy Code to create Subchapter V, with the intent of encouraging small businesses (defined as those with less than $2,725,625.00 in debt) to file reorganization plans more often by saving certain costs of a routine Chapter 11. Congress then passed the CARES Act in response to the COVID-19 pandemic, raising the debt limit to $7,500,000.00...

Top 10 Bankruptcy Truths for Creditors to Know
Spilman Thomas & Battle, PLLC, May 2020

Much of the bankruptcy chatter arising from the pandemic world in which we find ourselves is now focusing on the cascade of new bankruptcy cases that are predicted to arrive soon. We have already seen the effects of closed stores and no foot traffic on some of the big names in retail (J.C. Penney, J. Crew, Neiman Marcus, Pier 1, etc.), but many consumer cases are sure to follow, the result of the staggering number of layoffs and lost jobs that the pandemic has caused...

Do You Have a Cough? What Can I Ask Customers and How Do I Protect Their Privacy?
Lawson Lundell LLP, May 2020

As businesses begin to reopen, many organizations will examine ways to protect their workers and attract returning customers. Various mechanisms to screen customers for COVID-19 risks will become more common. Examples include providing customers with questionnaires regarding their travel history, exposure to others, and symptoms, or temperature scanning before entry. Organizations will be permitted to screen individuals in a reasonable manner, depending on the circumstances...

Weekly Report: COVID-19 in Central America (May 16 - 22)
Consortium Legal - El Salvador, May 2020

Special Report "COVID-19 in Central America" on special measures taken in each country of our region prepared by the multidisciplinary team of Consortium Legal. The information contained in this publication is for information purposes only and does not constitute legal advice. The information is constantly updated and is subject to change...

PPP Math for the Self-Employed: And, Yes, There is Still Time
Verrill, May 2020

The Small Business Administration reports that as of May 23 it still had nearly $150 billion of untapped Paycheck Protection Program funds. The Program has been underutilized by self-employed business owners, in part due to complexity. Those micro-businesses, however, make up a significant slice of the U.S. economy and generally would be eligible for PPP funding. This article illustrates potential PPP benefits for a self-employed owner with no employees...

Unprecedented: COVID-19 Litigation Trends, Issue 8
Spilman Thomas & Battle, PLLC, May 2020

This eighth edition of Unprecedented, our weekly update on COVID-19-related litigation, follows what we hope was a restful and meaningful Memorial Day weekend. For the third week in a row, shutdown challenges, workers' compensation claims, and wrongful death lawsuits have dominated the news cycle. But, we are also seeing a continuation in refund claims and an uptick in fraud claims involving everything from alleged misuse of sick days to corporate press releases...

Treasury and IRS Finalize Section 385 Regulations
Dykema, May 2020

On May 13, 2020, the Department of the Treasury and the Internal Revenue Service (“IRS”) issued final regulations under Section 385 of the Internal Revenue Code (“Code”), T.D. 9897 (“Final Regulations”), which address the classification of certain related party debt as stock or equity for U.S. Federal income tax purposes...

Real Time Covid-19 - Week of May 25
Brigard Urrutia, May 2020

THE MOST OUTSTANDING ADVANCES OF THE DAY (May 26) Mandatory preventive isolation is extended until May 31.As announced last week, the National Government decided to extend the mandatory isolation until May 31, 2020. This new extension contemplates the same measures and exceptions established in Decree 636 of May 6, 2020. Three days without VAT in Colombia.The National Government has decided to exclude commercial leases from VAT and reduce national consumption tax rates...

SBA Announces: “SBA may begin a review of any PPP loan of any size at any time in SBA’s discretion” & DOJ Announces Multiple Enforcement Actions
Lowenstein Sandler LLP, May 2020

Between May 20 and May 22, SBA announced three new Interim Final Rules and the U.S. Department of Justice (DOJ) announced three new fraud prosecutions stemming from PPP loans...

PPP Loan Forgiveness Application: Key Observations
Dykema, May 2020

The SBA, in consultation with the U.S. Department of Treasury, issued the Paycheck Protection Program Loan ForgivenessApplicationand related instructions on May 15, 2020. While the application and instructions answer many of our questions about PPP loan forgiveness, it leaves many others open. Treasury has promised that the SBA also will soon issue regulations and guidance that we hope will address these questions...

A Trustees’ Right to Obtain Information from Solicitors Firms under Section 29 of the Bankruptcy Ordinance
Deacons, May 2020

Section 29 of the Bankruptcy Ordinance (Cap. 6) (BO) allows a trustee in bankruptcy to apply to the Courts for orders compelling disclosure of material documents and/or information of the bankrupt in order for the trustee to carry out his/her duties under the bankruptcy. For the authors’ previous article on Section 29, please see here...

Court Provides Guiding Principles on Interpreting a Memorandum of Understanding
Deacons, May 2020

In Da Shing Group Ltd v Rich Promise Limited [2020] HKCFI 588[1], the Hong Kong Court of First Instance provided guiding principles in the interpretation of a memorandum of understanding (MOU) and considered whether pre-contractual exchanges could be admitted as evidence. The MOU in Chinese related to the acquisition of about 50.46% of the shareholding (Shares) in a listed company, Crocodile Garments Limited (Crocodile)...

COVID-19: Additional, Exceptional and Temporary Measures Adopted by the Superintendency of Banks of Panama and the Panama Banking Association.
Morgan & Morgan, May 2020

Rule 2-2020, as amended by Rule 3-2020 of the Superintendency of Banks of Panama (hereinafter, “SBP,” for its initials in Spanish). On March 16, 2020, the SBP issued Rule 2-2020, which was subsequently amended by Rule 3-2020 (here in after referred to as “Rule 2-2020") and "establishes additional, exceptional and temporary measures for compliance with the provisions contained in Rule 4-2013 on credit risk".”...

Corporate Governance in the Time of COVID-19: Navigating New Horizons
SyCip Salazar Hernandez & Gatmaitan, May 2020

The COVID-19 pandemic has forced companies to change the way that they do business. The fact that the National Capital Region is currently under a Modified Enhanced Community Quarantine (MECQ),[1] and prior to that, was under Enhanced Community Quarantine (ECQ) for two months since 16 March 2020, makes it difficult for Philippine domestic corporations to navigate the Philippine business landscape and conduct business as usual...

How to Close an M&A in Pandemic
Veirano Advogados, May 2020

The pandemic and government health protection measures have created a series of challenges and smart government responses to try to deal with the imposed social distance...

Juggling the Costs of Reopening and Litigation: Try Mediation
Verrill, May 2020

State governments are creating paths to restart their economies. Businesses desperately want to start generating income and put the COVID-19 crisis behind them...

FINALLY!!! . . . SBA Guidance on the Forgiveness Math
Verrill, May 2020

The Punch Line: On Friday, May 15, the Small Business Administration published a new form entitled Loan Forgiveness Application Instructions for Borrowers which, at long last, provides a great deal of guidance on how to calculate loan forgiveness. The Background: Section 1106(b) of the CARES Act famously provides for potential forgiveness in a maximum amount equal to “the sum of [eligible] costs incurred and payments made during the covered [8-week] period...

Data Privacy and WFH: NPC Bulletin on Protecting Personal Data in a Work From Home Arrangement
SyCip Salazar Hernandez & Gatmaitan, May 2020

The National Privacy Commission (NPC) has issued guidelines on data protection in work from home (WFH) arrangements (NPC PHE Bulletin No. 12 on “Protecting Personal Data in a Work from Home Arrangement; issued May 15, 2020).  The full text of the guidelines can be found here: https://www.privacy.gov.ph/2020/05/npc-phe-bulletin-no-12-protecting-personal-data-in-a-work-from-home-arrangement/...

Revised Measures in Response to COVID-19: Sterilisation and Opening Timings and an Updated List of Violations and Fines
Afridi & Angell, May 2020

Timings On 18 May 2020, the UAE government announced the following timings with effect from today, 20 May 2020: the National Disinfection Programme will take place between 08:00pm (not 10:00pm) to 06:00am the following day. working hours of butchers, mills and cafes will be from 06:00am to 08:00pm. commercial centres and malls will be open from 09:00am to 07:00pm (with new opening hours to be announced after the upcoming Eid...

Application for PPP Loan Forgiveness... Now What?
Lowenstein Sandler LLP, May 2020

Certain provisions of the coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified or added. On Friday, May 15, 2020, the SBA released its Paycheck Protection Program (“PPP”) Loan Forgiveness Application (the “Forgiveness Application”)...

New Guarantee Facility, Extension of ERTE Temporary Layoff Procedures, Effects of the Crisis on Transfer Pricing, Return to Judicial Activity and 'Shields' for Businesses
Garrigues, May 2020

Garrigues analyzes the most important new legislation that companies need to be aware of in the coming days in the various areas of business law...

 

 

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