26 March 2020 Chilean Central Bank sets rules on special financing for banking institutions to support funding and refinancing of consumer andcorporate loans, along a temporary flexibilization of its regulation onliquidity management in the banking industry As a response to the financial tensions triggered by the dissemination of Covid-19, the Chilean Central Bank (BCCh) announced on Monday 23 March 2020 a series of measures aimed atgranting liquidity for the economy and supporting the
Impact of the Czech Government measures on employment relations The current situation has a considerable impact on employment relations ...
COVID II programme – Government financial support for self-employed and small and medium-sized enterprises Aid for self-employed persons ('self-employed') and small and medium-sized enterprises ('SMEs') affected by anti-coronavirus measures pursuant to the Czech Government’s 'COVID GUARANTEE' programme was exhausted in one day ...
Czech Government Approves Mitigation Measures Related to Coronavirus Emergency UPDATED In connection with the coronavirus emergency, the Czech government has approved a liberation tax package aimed at mitigating the consequences of the emergency ...
Czech Health Ministry's Special Measures UPDATED The government explicitly stated in the Emergency Resolution that the Health Ministry’s existing emergency measures are not to be affected by the state of emergency, which means that they remain valid and must be observed. All the Health Ministry’s special measures introduced valid after the emergency was announced must be observed as well. A brief summary (updated on 19March 2020) is outlined below ...
The offence of spreading coronavirus From what point exactly is the spreading of COVID-19 a criminal offence? Is it only intentional spreading that is punishable or is negligence also a criminal offence? What is at stake? What are the aggravating circumstances and when do the penalties increase? And can these criminal offences also be committed by a legal entity? The Government of the Czech Republic adopted, as a part of emergency measures due to health threat, Regulation No ...
There is no better time than the present to create and implement an estate plan. Having an estate plan means that you have a plan to protect your property and to effectively dispose of itupon your death. You do not want the law to decide who should get you rproperty in the event of your death but that is exactly what would happen if you do not have an estate plan and, in particular, if you die without a Will (dying “intestate”) ...
The covid19 global crisis and the relating lockdown measures will strongly impact the activity of borrowers and the value of their assets. Their repayment capacity and their liquidity needs will also be affected. The crisis also impacts lenders and the operation of financial markets. We outline advice to meet the difficulties that may arise in the implementation and negotiation of financing agreements. 1 ...
The French Government Ordinance enacted on 26 March 2020[1] create a solidarity fund intended to provide financial aid to natural and private law legal persons having economic activity severely affected by the Covid19 crisis. The Solidarity Fund is created for a three-month period (renewable once for the same duration by decree) and will be funded by the State, and on voluntary basis, by regions and certain other territorial authorities ...
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 ...
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 ...
Emergency Mitigation Fund (FOME, per its acronym in Spanish) is a fund without legal status of the Ministry of Finance and Public Credit and will aim, within the framework of Decree 417 of 2020, to meet the needs of resources for health care, the adverse effects generated on the productive activity and the need for the economy to continue providing conditions that maintain employment and growth ...
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 ...
As a response to the financial tensions triggered by the dissemination of Covid-19, the ChileanCentral Bank (BCCh) has announced a series of measures aimed at granting liquidity to theeconomy, support the flow of credit and the conveyance of the monetary policy. A core component of these measures is that of a Credit Facility Conditioned to the Increase inPlacements (FCIC) ...
Businesses in need of capital may find themselves facing foreign investment regulatory hurdles. We discuss the challenges for businesses and the potential for regulatory relief. Australia's foreign investment regime applies very broadly and captures many transactions. As businesses consider how to respond to the demands of the current COVID-19 economic environment, they may be required to go through the Foreign Investment Review Board (FIRB) screening regime ...
The General Meeting during the State of Emergency? Can it take place? And can it be convened? Do crisis measures contain an exception for meetings of the statutory organs of the company (e.g ...
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 ...
