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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...

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...

Unprecedented: COVID-19 Litigation Trends - Issue 18, 2020
Spilman Thomas & Battle, PLLC, August 2020

This 18th edition of Unprecedented, our weekly update on COVID-19-related litigation, sees us return to what, even in these early days of the pandemic, must be considered as some of the hottest topics. Thus, we discuss new insurance coverage disputes from the owners of Cheers in Boston and the internationally known restaurateur Jose Andres in Washington, D.C...

Generating Captive Revenue through Tenant Liability Programmes
Bradley Arant Boult Cummings LLP, August 2020

The real estate sector is facing numerous economic challenges. The property and casualty markets are hardening, while tenants are looking for rent concessions. Meanwhile, moves by some businesses to allow more working from home could significantly reduce demand for office space. When insurance expenses are increasing, a captive may be used to stabilise premium costs by increasing deductibles and insuring the deductibles in the captive...

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: 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...

Hong Kong Stock Exchange Consults on Paperless IPO and Online Display of Documents
Deacons, August 2020

On 24 July 2020, The Stock Exchange of Hong Kong Limited (Exchange) published a consultation paper seeking public feedback on proposals to introduce a paperless listing and subscription regime, online display of documents and a reduction of the types of documents on display...

Client Bulletin No. 29 (Updates on COVID-19 related PH Issuances): GCQ over Metro Manila Again Extended until August 15, 2020
SyCip Salazar Hernandez & Gatmaitan, August 2020

This is a briefing on the issuances as of August 1, 2020 on the following matters in relation to the COVID-19 pandemic: A. General Community Quarantine (GCQ) over Metro Manila Again Extended until August 15, 2020 B. Department of Trade and Industry (DTI) Allows More Business Establishments to Operate During GCQ from August 1, 2020   A...

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...

Insurance Commission Invites InsurTech Enterprises to Play in Regulatory Sandbox
SyCip Salazar Hernandez & Gatmaitan, July 2020

The Insurance Commission (“IC”) of the Philippines has issued a circular letter dated June 14, 2020 on the adoption of a regulatory sandbox framework for the experimentation and testing of insurance technology innovations (IC Circular Letter No. 2020-73 (“ICL 2020-73”): “Guidelines on the Adoption of a Regulatory Sandbox Framework for Insurance Technology (InsurTech) Innovations).” The full text of Circular Letter No...

California Supreme Court Upholds Pension Reform Changes As Constitutional
Hanson Bridgett LLP, July 2020

Key Points The California Supreme Court clarified the so-called California Rule on public employee’s "vested rights" to pension benefits, holding that detrimental financial changes to employee pension benefits do not invariably require that offsetting comparable new advantages be provided. And it set a legal framework for analyzing that issue...

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...

California Issues New COVID-19 Employer Playbook for a Safe Reopening
Hanson Bridgett LLP, July 2020

On July 24, 2020, the California Department of Public Health issued a new guidance document for all employers within California, entitled “COVID-19 Employer Playbook For a Safe Reopening...

Emergency Parental Leave is Published
Carey, July 2020

On Monday July 27th, Law No. 21,247 which establishes special benefits for some parents and children’s guardians (the “Law”) in the context of the COVID-19 pandemic, was published on the Official Gazette. The main aspects regulated by the Law, are the following:   I. Preventive parental leave It consists in the granting of preventive leave for taking care of children whose parents were making use of the parental postnatal leave...

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...

Persistence Pays Off in Sale of Idaho Pass-Through Entity
Bradley Arant Boult Cummings LLP, July 2020

Retired Navy SEALs apparently have a persistence that other taxpayers may not have. Case in point (literally)—Noell Industries, Inc. v. Idaho State Tax Commission, decided on May 22, 2020, by the Idaho Supreme Court...

Governor Reimposes Restrictions in Northern Michigan
Dykema, July 2020

On July 29, 2020, Governor Whitmer issued Executive Order Nos. 2020-160 and 2020-161. Executive Order 2020-160 replaces the prior executive orders that address stay home, stay safe restrictions in Michigan. In general, this Order moves the State to a more uniform approach to business operations and restrictions...

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”)...

Data Backup and Security Guidelines as Impact Mitigation Strategies in Light of the COVID-19 Pandemic
AELEX, July 2020

The COVID-19 pandemic hit the world in an unprecedented manner and, in just a few months, it has had such a profound impact on the world of work. As a result, physical office premises were shut down and many employees were forced to work from home with little or no security policy in place or a viable data backup and recovery plan...

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...

Shearn Delamore & Co. Legal Update July 2020 (Financial Services)
Shearn Delamore & Co., July 2020

Extension on short-selling ban The Securities Commission Malaysia (“SCM”) and Bursa Malaysia Securities Berhad (“Bursa Malaysia”) announced a further extension, until 31 December 2020, of the existing suspension for the suspension of all short selling, other than permitted short selling, on the stock exchange of Bursa Malaysia. The scope of the ban remains the same...

Construction Industry Arbitration Commission ("CIAC") Guidelines on the Conduct of On-Line or Virtual Proceedings for CIAC Cases
SyCip Salazar Hernandez & Gatmaitan, July 2020

This is a briefing on the CIAC Memorandum Circular No. 01-2020 dated June 10, 2020,1 a COVID-19 related issuance. A. Authority to Hold Virtual Proceedings B. No Change in the Deadline for the Issuance of Final Awards C. In-Person Proceedings D. Conduct of Virtual Proceedings ______________________________________________________________________________________________________________ CIAC’s Memorandum Circular No...

Shearn Delamore & Co. Legal Update July 2020 (Tax and Revenue)
Shearn Delamore & Co., July 2020

Tax and Revenue Income tax The following technical guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website: Garis Panduan Mengenai Duti Setem ke atas Suratcara Pindah Milik Saham bagi Saham dalam Syarikat yang Tidak Tersenarai di Bursa Malaysia Berhad (available in Malay language only) — issued on 23 June 2020 to replace Technical Guideline dated 6 November 2019;Garis Panduan Permohonan untuk Kelulusan Ketua Pengarah Hasil Dal

Client Bulletin No. 28 (Updates on COVID-19 related PH Issuances): Recent IPOPHL, SEC, BSP Issuances
SyCip Salazar Hernandez & Gatmaitan, July 2020

This is a briefing on the issuances as of July 29, 2020 on the following matters in relation to the COVID-19 pandemic: A. Intellectual Property Office (IPOPHL) Further Extends until August 4 the Deadline for Filings and Payments Due for the Period of July 20-30, 2020 B. Securities and Exchange Commission (SEC) Discourages Physical Filing of Mandatory Disclosure Form (MDF) which is Due on July 31, 2020 C...

 

 

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