One of the more serious consequences of the pandemic will be awave of business litigation. However, strong arguments and credible evidence are not enough to win adispute. It also takes resources to pursue alawsuit, and soon that may be particularly difficult to come by. The whole economy under pressure is preparing for the consequences of the pandemic and drastic steps taken by states to combat it ...
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 ...
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
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 ...
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 ...
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 ...
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 ...
Force Majeure clauses are used in many contracts in the most diverse business areas. These contractual provisions are rarely invoked in practice in Latvia, as the parties usually do not face any circumstances that could qualify as Force Majeure ...
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 ...
Thousands of disputes are dealt with by way of international arbitration every year and it is inevitable that when most countries started introducing social distancing measures, a number of arbitrations were either part heard or just about to start and will have been derailed, at least to some extent ...
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 ...
Amid the spread of COVID-19, the Romanian President decreed a state of national emergency in Romania, with express measures to be taken in the justice system. Although the Decree does not refer to arbitration, the state of national emergency and the need of social distancing inevitably impact it as well ...
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 ...
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) ...
