Is the operation of PPP projects suspended? No. The State of National Emergency (in force from March 15 to June 30, 2020) has not affected the operation of PPP projects related to the provision of public and/or essential goods and services. Currently, it is also permitted to perform activities included in Phases 1 and 2 of the "Economic Reactivation Plan"(“Plan”) approved by the Central Government. See Exhibit I ...
Analysis of the changes to the special legal rules onthe credit and financing moratorium. Through Decree-Law 26/2020 of 16 June (“DL 26/2020”), the Government has approved, a set of amendments to the special rules onthe moratorium on financing approved by Decree-Law 10-J/2020 of26March ...
Although the data for San Francisco Bay Area remains encouraging for the first quarter of 2020*, given the economic instability brought by COVID-19, we might see more down rounds going forward. Down rounds are financings where the company is valued less than in a previous round. In practical terms this means that the new investors are buying shares of the company at a lesser price than the previous investors ...
Hand sanitiser production is just one aspect of business that's altered for £5bn industry, writes George Frier of Shepherd and Wedderburn The whisky industry continues to captivate consumers and entrepreneurs. Record exports continue and, within the sector, the emergence of new brands and the rejuvenation of existing brands demonstrate a vibrant sub-set of the Scottish food & drink economy ...
On 11 June 2020, the Discrimination Legislation (Miscellaneous Amendments) Bill 2018 (Bill) was passed at the Legislative Council. The Bill introduced amendments to Hong Kong’s four anti-discrimination legislations, namely the Sex Discrimination Ordinance (SDO), the Disability Discrimination Ordinance (DDO), the Family Status Discrimination Ordinance (FSDO), and the Race Discrimination Ordinance (RDO) (Amendments) ...
As seen in Bank Director The federal government has a history of assisting businesses when a crisis occurs, but one of its latest interventions may have created risk for bank partners providing aid ...
The Federal Reserve's Main Street Lending Program (the “MSLP”), which is designed to help credit flow to small and medium-sized businesses impacted by the COVID-19 pandemic, was officially launched today, Monday, June 15th. As a result, the MSLP is now open and ready for registration by lenders looking to participate in the program ...
In a highly anticipated decision, the U.S. Supreme Court held Title VII of the federal Civil Rights Act protects LGBTQ employees from being fired because of their sexual orientation or gender identity. The opinion, released on June 15, 2020, was a consolidation of three federal appellate court decisions—Bostock v. Clayton County; Altitude Express v. Zarda; and R.G. & G.R. Harris Funeral Homes v. Equal Employment Opportunity Commission ...
The Federal Communications Commission (“FCC”) established the COVID-19 Telehealth Program (the “Telehealth Program”) on April 2, 2020 in response to the COVID-19 pandemic. The Telehealth Program provides $200 million in funding, appropriated by Congress as part of the CARES Act,[1] to assist certain non-profit and public healthcare providers in making telehealth services available to patients who cannot be seen in person ...
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”), and the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”). Ttogether, the CARES Act1, PPPHCE Act, and PPP Flexibility Act are called the “CARES Act” ...
In a landmark decision issued today, the Supreme Court of the Unites States ruled that Title VII of the Civil Rights Act of 1964 prohibits workplace discrimination against gay, lesbian, and transgender people. The case involved consolidated lawsuits filed by two gay persons fired due to their sexual orientation and a transgender woman fired after revealing plans to transition from male to female ...
For the aviation sector, the first half of 2020 has sadly been defined by the many challenges brought on by the coronavirus pandemic, resulting in operational and economic disruption across the globe. Now six months in, the industry is taking stock, adapting strategies and mapping out future plans for business post Covid-19 ...
Since March 2020, travel restrictions apply to foreign nationals entering Brazil. At present, Ordinance No. 255, valid until 21 June 2020, provides for several exceptions in addition to that for born and naturalised Brazilians ...
Last week, the U.S. Food and Drug Administration (FDA) issued guidance for the health care industry, titled “Temporary Policy on Prescription Drug Marketing Act Requirements for Distribution of Drug Samples During the COVID-19 Public Health Emergency ...
The United States Senate passed S. 945, the “Holding Foreign Companies Accountable Act” (the HFCAA), by unanimous consent on May 20, 2020. The HFCAA was first introduced in the Senate on March 28, 2019 by Senator John Kennedy (R-LA) and co-sponsored by Senator Chris Van Hollen (D-MD) ...
On 27 May 2020 the Federal Council adopted the Ordinance on Protecting against Cyber Risks (OPCy, available in French and German), which is set to enter into force on 1 July 2020. This move is the next step in a series of measures taken by the Federal Council to adopt a new organisational structure and implement a national strategy to protect Switzerland against cyber risks (NCS, available in German, French, Italian and English) ...
Key Point The Federal Reserve has further revised the terms for the upcoming Main Street Lending Program in order to expand access to the program's three loan facilities The Federal Reserve announced on June 8, 2020, that it has revised key terms for its upcoming Main Street Lending Program to support small and medium-sized businesses, consisting of three loan facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Stree
On June 10, 2020, the Occupational Safety and Health Administration (OSHA) released new guidance, in the form of frequently asked questions and answers, regarding the use of masks in the workplace.[1] The new guidance serves to help employers ensure employees know how to properly wear masks and which type of mask is appropriate. OSHA explains the difference between cloth face coverings, surgical masks, and respirators ...
The economic turmoil stemming from the outbreak of COVID-19 has forced small business owners to take drastic measures to save their companies. Unfortunately, government subsidized loans, loan deferrals, and temporary rent relief may not be enough to save all small businesses. Bankruptcy should never be the first choice for a business in financial distress, but it may be the best choice for all interested parties ...
Businesses affected by COVID-19 are frantically seeking help. Direct forms of assistance, such as the financial shield and standstill pay, are extremely popular. Meanwhile, another instrument of the Anti-Crisis Shield has begun operating recently, i.e. loan repayment guarantees granted by Bank Gospodarstwa Krajowego to medium-sized and large enterprises from the Liquidity Guarantee Fund ...
A&L Goodbody's Dr Vincent Power writes why the COVID-19/Coronavirus crisis demonstrates why an international convention is needed to deal with various aspects of shipping (including the repatriation of crew and passengers) in the event of another pandemic or epidemic. Go to publication For more information on this topic please contact Dr Vincent Power, Partner or any member of A&L Goodbody's EU, Competition & Procurement team ...
As dealer networks in the automotive sector re-open for business following the COVID-19 lockdown, we share below our main competition law watch outs for suppliers over the coming weeks and months. We know that current market conditions are tempting some people to reach out to their competitors – any competitor contact needs to be managed carefully from a competition law perspective ...
Key Points New legislation allows longer 24-week period for payroll costs that will be forgiven under Paycheck Protection Program loans Maximum forgiveness of loan can be achieved if 60% of the proceeds are used on payroll costs New broader safe harbor to avoid FTE-based reduction in forgiveness amount New legislation signed into effect on June 5, 2020, received bi-partisan support to address complaints about the current Paycheck Protection Program ("PPP") loans for small busines
On May 27, 2020, the U.S. Patent and Trademark Office issued a further extension of certain deadlines that were about to expire on May 31. The latest order provides until July 1, 2020 for certain actions delayed due to COVID-19. For small and micro entities only, filings that would have been accepted if filed by June 1, 2020, will now be deemed timely if filed by July 1, 2020 ...
