Superintendence of the Securities Market The Superintendence of the Securities Market (the “SMV”) has established the following measures for working hours and presentation and process of filings before such entity as part of the governmental effort to avoid the spread of COVID-19:[1] Maintain the special working hours of the SMV from 8:00 a.m. to 12:00 p.m. until there is a new announcement by the SMV ...
Many clients who are engaged in litigation may also now be facing the added burden of decreased cash flow due to the economic crisis created by the COVID-19 pandemic. While courts around the country may view the situation differently, Dinsmore attorneys were recently able to help a corporate client obtain an early, administrative closure of their case due to the economic crisis they are experiencing at this time ...
As some businesses are reopening while COVID-19 plateaus, many employees are splitting time between working from home and working in the office. Those same employees are often using their own devices (phones, tablets, laptops etc.) in both places. The use of personal devices in a work setting can increase risk of a data breach ...
On May 5, 2020, the Small Business Administration extended the time in which certain borrowers of Paycheck Protection Program loans may take advantage of the certification safe harbor SBA announced on April 24, 2020. The SBA also issued guidance on applying the affiliation rules to businesses with U.S. and foreign affiliates ...
In a typical bankruptcy filing, a debtor seeks the benefit of two concepts. First, the debtor seeks the breathing room afforded that debtor by the automatic stay. Second, the debtor seeks to discharge all debt obligations adjudicated in the bankruptcy case. Absent these protections, a bankruptcy filing serves little purpose. As a result, a creditor or trustee who can attack the debtor's entitlement to a discharge threatens the heart of any filing ...
Our COVID-19 Task Force stands ready to assist with developing your customized "playbook" for helping your business return to the new normal. Below are a few recent articles Spilman has published, along with a link to a recent webinar ...
At Spilman Thomas & Battle, we talk with lending clients regularly about their collection options against borrowers who have defaulted in their obligations. Many are surprised to learn how varied and wide their toolbox actually is. Debts that look dead in the water may yet have air in the lungs ...
The National Immigration Authority and the Ministry of Labor extend the measures taken as a result of the State of Emergency due to the COVID-19 pandemic. Residence permits are extended up to May 15th. This extension is in force since March 13th. Reference is made to all permits and tourist stays that expire within the aforementioned period and will not give rise to fines due to expiration ...
These provisions will apply until October 31th, 2021. The Financial Market Commission (CMF) reports that its Council approved on April 30th, 2020 a regulation (Circular No. 2,252), containing provisions for banks with regard to Covid-19 loans from the Guarantee Fund for Small and Medium-Sized Companies (FOGAPE) ...
Fiscal Support Schemes Full suspension of operations Companies the operations of which were mandatorily suspended, pursuant to the pertinent Decisions of the Council of Ministers and decrees of the Minister of Health, includinginter aliashopping centres, department stores, cafes, coffeehouses, bars and all catering businesses (excluding delivery services), entertainment venues, cinemas, theatres, performance venues, libraries, museums, archaeological and historical sites, bookies, cas
Those with the greatest need for the financial relief afforded by a successful bankruptcy case often lack the financial resources necessary to secure adequate legal representation, particularly in the context of individual chapter 7 cases. ABI has devoted substantial resources toward addressing this dilemma ...
The Ministry of Health and Social Protection issued Resolution 682 adopting the biosecurity protocol for the control and management of COVID-19 in the building construction sector. This protocol is complementary to the general biosecurity protocol adopted through Resolution 666 of 2020 and to other measures implemented by each company. This biosecurity protocol includes the following measures: 1. General biosecurity measures 2. Additional measures 2.1 ...
The fight against COVID-19 has had a serious impact on businesses across the nation, and the construction industry is no exception. May 1, 2020, marked a step toward a new normal as Michigan Governor Gretchen Whitmer signed Executive Order 2020-70 easing restrictions on construction projects. The Governor’s office also issued a press release explaining how the Order applies to work on construction projects ...
Governor Wolf announced that 24 Pennsylvania counties will move from the red phase to the yellow phase of the reopening plan beginning at 12:01 a.m. Friday, May 8. The 24 counties announced today are: Bradford, Cameron, Centre, Clarion, Clearfield, Clinton, Crawford, Elk, Erie, Forest, Jefferson, Lawrence, Lycoming, McKean, Mercer, Montour, Northumberland, Potter, Snyder, Sullivan, Tioga, Union, Venango and Warren ...
As a result of the COVID-19 pandemic, pension regulators across Canada have been announcing special measures to help protect the interests of pension plan members, assist pension plan administrators and ensure the ongoing financial health of pension plans, particularly given the negative impact that current financial market conditions have had on the funded status of pension plans. This bulletin summarizes the measures that have been announced to date ...
The IRS has issued Notice 2020-32 addressing the ability to deduct expenses paid with proceeds of Paycheck Protection Program loans. Under Section 1102 of the CARES Act, qualifying businesses are eligible for Small Business Administration Paycheck Protection loans of up to 2.5 times their average monthly payroll, calculated as defined in the Act ...
On April 23, 2020, the U.S. Equal Employment Opportunity Commission (“EEOC”) issued new guidance clarifying that employers may conduct mandatory testing of employees for COVID-19 before they enter the workplace so long as the testing is “job related and consistent with business necessity ...
Covid-19 is upending capitalism as we know it. Amid the pandemic, how can businesses rewrite their rule books so as to emerge stronger? Americans have allegedly outbid the French for masks “right on the tarmac” just as the goods were to be flown off to their destination. From Amazon to Rakuten to Carousell, traders exploited fears by price-gouging on masks and hand sanitisers ...
A number of states have issued executive orders or other emergency declarations to provide relief from certain debt collection practices in the wake of the COVID-19 crisis. Such measures include ceasing new wage attachments and vehicle repossessions, etc. None have been as comprehensive as the regulation issued by Massachusetts Attorney General, Maura Healey, on March 26, 2020 ...
Sen. Elizabeth Warren (D-Mass.) and Sen. Sherrod Brown (D-Ohio) have released a proposal calling on Congress to provide additional protections for consumers during the COVID-19 pandemic. Their proposal notes that an unprecedented 22,000,000 Americans filed for unemployment benefits in the past four weeks. Millions of them received or will receive a $1,200 stimulus check the senators argue will not cover one month of basic expenses ...
Freddie Mac has taken a series of steps to assist its borrowers, sellers, and servicers during these unprecedented times, and should help Freddie Mac continue its goal to “keep mortgage money flowing, support the stability of the housing market, and promote housing affordability.” Freddie Mac announces avenues of assistance to borrowers affected by COVID-19, and that borrowers in forbearance will not be required to repay in a single lump sum ...
On April 30, 2020, WorkSafeBC announced it is moving forward with adding COVID-19 to the list of diseases for which there is a presumption of it being work-related. Employers will now have to rebut the presumption that a worker caught COVID-19 at work to have the claim denied. Addition to the list typically takes between 18-24 months, but WorkSafeBC is hoping to expedite and complete the process in 6 months ...
WHAT'S NEW COVID-19 Business Strategies Hub Since the news first broke about the COVID-19 pandemic and its impact on the global economy, Dinsmore has worked diligently to create the COVID-19 Business Strategies Hub. The Hub features attorney insights and complementary webinars to help you prepare and respond to legal, regulatory, and commercial implications related to the crisis ...
