The business financing sector is among those that could suffer the greatest impact due to the economic crisis that is expected to be the inevitable result of the global COVID-19 pandemic. In fact, the paralysis of economic activities will undoubtedly have a negative impact on the liquidity of companies that have to make regular payments under financing agreements. These liquidity problems will seriously harm the ability of companies to meet their obligations on time ...
The Indonesian aviation sector has grown rapidly over the past few years. Due to this, airlines and lessors have been capitalising on the general availability of diverse sources of funding. In particular, aircraft sale-leaseback or lease trans-actions are used more frequently due to competitive pricing and Indonesia has been trying to develop a legal framework to accommodate the financing and leasing of aircraft ...
UPDATED - We have updated several items as clarifications have been made. We will continue to update as more frequently asked questions are posed. When Congress passed the Families First Coronavirus Response Act ("CRA"), it left much for the U.S. Department of Labor ("DOL") to explain. The DOL has published a temporary rule offering its interpretations of the CRA, and the Internal Revenue Service (“IRS”) has established a procedure for claiming the tax credits ...
The CFTC recently published several no-action letters issuing temporary relief to certain market participants in response to the Coronavirus/COVID-19 outbreak, which was declared a pandemic by the World Health Organization on March 11, 2020 ...
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act cleared the House vote and was signed into law. As the most expensive legislation ever passed, the CARES Act includes tax relief and incentives designed to help both businesses and individuals impacted by the COVID-19 pandemic. In addition, the CARES Act modifies certain provisions that were previously amended by the Tax Cuts and Jobs Act (TCJA) ...
Under the CARES Act (H.R. 748), mid-sized businesses affected by the COVID-19 pandemic may be eligible for low-interest rate loans. These loans, however, come with a hidden price tag: a requirement that the business makes a "good-faith certification" that it "will remain neutral in any union organizing effort for the term of the loan.” What it means for a business to remain "neutral" is up in the air. The CARES Act does not define the term ...
An update to this article is available ? The Trump Administration and representatives of Congress reached an agreement on a proposed COVID-19 economic stimulus bill, the Coronavirus Aid, Relief, and Economic Security Act, or the CARES ACT (the “Act”). The Senate passed the Act late Wednesday, and the House of Representatives will vote on Friday. It is expected to be approved then signed into law on Friday, March 27, 2020 ...
UPDATED - Questions 12 through 18 are new to this article. We will continue to update as more frequently asked questions are posed. When Congress passed the Families First Coronavirus Response Act ("CRA"), it left much for the U.S. Department of Labor ("DOL") to explain. The DOL has started offering vital interpretations employers need to consider in making decisions over the next few weeks. 1. When does the CRA become effective? April 1, 2020. 2 ...
On March 25, 2020, the Ohio General Assembly unanimously passed legislation providing emergency relief to Ohio municipalities, businesses, schools, and families related to COVID-19. Critical to civil litigants in Ohio, the legislation evolved to include emergency measures that will toll statute-of-limitations on forthcoming lawsuits and discovery deadlines in currently pending lawsuits ...
On 25 March 2020, the Commission for Conciliation, Mediation and Arbitration (“CCMA”) published a statement on its website, in which it provided some much-needed clarity on the options available to employees, employers and CCMA users in the midst of the coronavirus (COVID-19) pandemic. This clarity has been augmented by a Directive published today and the updated Guide for Employers released by the Department of Labour ...
The current uncertainty in the world economy and the losses in the national stock market, generates concern about possible damage to the economy, derived from the pandemic caused by the virus COVID-19 ...
On March 24, Juan Carlos Jiménez Rojas, General Director of the Mexican Banking Association (Asociación de Bancos de México) (“ABM“), sent a letter to the President of the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“ View More
Due to the expanding impact of the Coronavirus (COVID-19), physical distancing and remote work policies have increased adoption by companies of electronic signature platforms such as DocuSign, Adobe Sign, SignNow, and others (hereinafter, the “platforms”) in handling internal approvals and also executing commercial documents ...
On March 24, 2020, Mexico’s Ministry of Health issued preventive measures, sanctioned by the President, that must be implemented by the public and private sectors for the mitigation and control of health risks associated with the disease caused by the SARS-CoV2 virus (COVID-19) ...
In the wake of the economic downturn caused by the coronavirus outbreak, Congress sought to pass a stimulus bill designed to mitigate the negative impact on the U.S. economy of measures taken to slow the spread of the virus.Hopes of a quick passage of the bill dimmed on March 21, when the Democrat and Republican negotiators in the Senate could not agree on worker protections or stock buyback restrictions for businesses that received funding, among other issues ...
Late in the day on March 24, the DOL provided its first round of guidance regarding the Families First Coronavirus Response Act (FFCRA). While the guidanceprovides some clarity for employers, many important questions are left unanswered. When can employees take advantage of the benefits of the FFCRA? The FFCRA takes effect on April 1 and expires on December 31, 2020 ...
In Emergency Order 20-EO-03, entered March 23, 2020, Insurance Commissioner Dodrill ordered that normal time standards for claims handling applicable to workers' compensation insurers and other regulated entities as set forth in title 85, series 1, section 10, of the West Virginia Code of State Rules are suspended until further notice ...
In order to obtain the temporary transit permit which authorizes to carry out fundamental activities and stock up of basic goods and services, among other activities, foreigners residing in Chile either as tourists or residents and who do not have a "unique key" or Chilean ID card for foreigners (a provisional RUT may not be used for this purpose), must request this permit in person at the offices of Carabineros de Chile closest to their domicile, showing a valid passport ...
Below is the detailed list set for notarial offices located in the 7 boroughs under quarantine in the Metropolitan Administrative Region, between 27 March and 02 April 2020. Said notarial offices will open between 10:30 am and 1:30 pm Borough of Santiago March 27, 2020 Notarial Office of Mr. Humberto Quezada Moreno: Huérfanos 835, Santiago Notarial Office of Mr. Vladimir Schramm López: Huérfanos 1499, Santiago March 28, 2020 Notarial Office of Ms ...
On March 23, 2020 the bill on Telework was finally and completely approved by the Congress and ratified by the President of Chile. Therefore, according to transitory article number 2, this law will become valid and enforceable starting April 1st 2020. This law regulates telework in the following terms: I ...
In order to alleviate the effects of the coronavirus, the Swedish government has proposed a crisis package that includes proposals for strengthening companies’ liquidity through the tax account, a new system for short-term working and the state taking over responsibility for sick-leave payment for two months. It is of course our hope that these proposals will result in most companies managing the effects of the coronavirus ...
Exempt Resolution No. 200 from the Ministry of Health, instructing the lockdown of cinemas, theaters, pubs and health clubs and banning customer service at restaurants and coffee shops On 20 March 2020, and as a result of the measures implemented by the Chilean Government to face the Covid-19 pandemic, the Ministry of Health issued Exempt Resolution No ...
