The first part of the article deals with various legal issues that may become relevant for financings in connection with measures to limit the spread of COVID-19. The second part sets out links to current public subsidy offers. 1. Q&A Information is of a general nature and, therefore, cannot replace specific advice in individual cases. Only the legal position of an entrepreneur but no specifics for consumers are addressed. 1.1 ...
The spread of the Coronavirus now affects all parts of society. Businesses must review their operations to minimize the negative consequences that may follow. At the same time, it is important to be aware of the legal consequences that may arise from risk minimization. Below is a general summary of some issues that can arise for tenants in commercial premises ...
Discussing the legal concept ‘Force Majeure’ in credit agreements – if it can be called upon, it has in principle a temporary nature and does not relief you from payment obligations. In general, force majeure is an unforeseeable and unavoidable event that occurs after a credit agreement has been concluded (i.e ...
Balancing between your bank taking purely business considerations or being reasonable. We advise being proactive and approaching your bank. The Coronavirus is unfortunately a human tragedy that is affecting thousands of people on all continents. It has also a very serious impact on businesses worldwide and locally ...
My business has liquidity needs... What can I do to keep this situation under control? As the coronavirus has already made a serious impact on the world economy, companies are faced with important liquidity needs. In uncertain times, easy access to cash can become rare. What can you do? First, approach what is probably your most clear source of liquidity, your bankers ...
With the Corona crisis, countries such as Germany, France and the Czech Republic have already announced bans on exports of protective gear to avoid shortages at their countries. But is this in conformity with the principle of free movement of goods as provided for in articles 34-36 TFEU? This principle is one of the cornerstones of the European Union's internal market which implies that national barriers to the free movement of goods within the EU need to be removed ...
In this challenging period of the Coronavirus outbreak, your organisation might currently be taking strong internal measures to protect its employees while ensuring work continuity. Such measures could have data protection implications and therefore you might be wondering how to take them in accordance with the GDPR. We have answered the most important GDPR questions below ...
Belgium is a complex country and many authorities have jurisdiction The Federal government is in charge of emergency planning. It can activate a federal stage emergency planning in which case the Federal Minister of the Interior has exceptional authority and can coordinate the emergency activities. As announced at a press conference on Thursday 12 March 2020, at about 10 pm, this federal stage has been activated ...
Restrictions related to COVID-19 have created immediate impacts for businesses of all sizes. Regardless if your industry has been directly affected by government mandates to work from home or restrict travel, it seems that no company can operate under a "business as usual" mindset over the near future ...
Which laws are applicable and what are the most important regulations? Epidemic Law 1950 COVID-19-Measures Law The legal basis for the measures imposed by the federal government last week is the Epidemic Law of 1913, which was re-introduced in 1950. The object and aim of the law are to combat notifiable transmissible diseases. This includes COVID-19 ...
In the days between 13 March 2020 and 15 March 2020, the government announced a comprehensive package of measures to combat Covid-19 ("Corona virus"), which is to enter into force on 16 March 2020. This in particular includes the ordered closure of shops and restaurants. The following initial overview addresses a number of key issues that arise for tenants and landlords as a result of the current situation ...
Corona-related sales declines in many industries lead to short-term liquidity bottlenecks for numerous companies. As the third pillar of the protective shield for employees and companies, the German Federal Government has therefore decided on new and unlimited measures to expand liquidity assistance to facilitate companies’ access to cheap loans ...
The coronavirus is not only harmful to health but also to our finances, leading to considerable financial losses for many companies and employees. In individual cases, insurance companies may be liable for the loss of sales associated with the virus. We will inform you about this option separately ...
The Government Procurement Supervising Agency – OSCE and the Central Purchasing Body PERÚ COMPRAS (PC) report on the measures to be implemented regarding the State of Emergency declared by Supreme Decree No. 044-2020-PCM Through Communiqué No. 003-2020 issued on March 16, 2020, the GovernmentProcurementSupervising Agency – OSCE announced the measures it will implement regarding the approval of Supreme Decree No ...
Since the outbreak of the Coronavirus, the Bank of Mauritius has been closely monitoring its economic impact on the banking sector and the Mauritian economy. On 10 March 2020, the Monetary Policy Committee of the Bank of Mauritius reduced the key repo rate by 50 basis points to 2.85% per annum and on 13 March 2020, the Bank of Mauritius introduced a Support Programme to further assist Mauritian businesses across all economic sectors ...
On March 16, 2020, seven Bay Area counties, including San Francisco, Alameda, Contra Costa, San Mateo, Marin, Santa Clara, and Santa Cruz, issued nearly identical orders to Shelter-in-Place (the "Order"), to be effective as of 12:01 a.m. March 17, 2020. The issuance of the Order intended to ensure the maximum number of people self-isolate to slow the spread of COVID-19 ...
The Estonian, Latvian and Lithuanian governments have indicated their support for the companies in the form of tax relief and liquidity support. As of 17.03.2020, the initial measures in Estonia and Latvia are expected within this week. Companies with business in Lithuania can already benefit from tax relief, with a draft law on liquidity support expected within 48 hours. Due to the exceptional circumstances created by COVID-19, many companies have had to restructure their operations ...
On Friday, March 13, 2020, the Department of Health and Human Services (HHS) announced several waivers of existing Centers for Medicare and Medicaid (CMS) regulations pursuant to Section 1135(b) of the Social Security Act, including the waiver of certain Emergency Medical Treatment and Active Labor Act (EMTALA) obligations and Medicare conditions of participation during the COVID-19 pandemic ...
Less than one week ago the World Health Organization (WHO) declared COVID-19 (coronavirus) a pandemic. In the days that have followed, the United States House of Representatives passed the Families First Coronavirus Response Act (FFCRA) to provide access to testing, food assistance, Medicaid funding, paid sick leave and unemployment benefits to workers. The United States Senate is expected to pass a version to be signed into law in the near future ...
In the early hours of Saturday, March 14, 2020, the House of Representatives passed the Families First Coronavirus Response Act, which is designed to expand relief in response to the coronavirus disease (COVID-19) outbreak, through access to free testing, enhancing food assistance, increasing Medicaid funding, and providing paid sick leave and unemployment benefits to workers ...
Overview and Outlook for Fintech in 2020 Technology continues to redefine our expectations in almost every area of our lives and shape the way we interact with the world ...
The impact of the coronavirus raises a number of questions for landlords and tenants of commercial property. This article considers the most frequent questions we are asked. Can I claim a reduction in rent if I am unable to use my premises? In most cases you will not be able to claim a reduction in rent ...
On top of the multiple challenges hitting retail and leisure landlords and occupiers arising from COVID-19, the news that Intu has had to write down the value of its shopping centre portfolio by nearly £2 billion came as further bad news. Intu owns multiple high-profile retail and leisure locations across the UK (including The Trafford Centre in Manchester and the Lakeside complex in Essex) and on 12 March was widely reported as being at risk of insolvency ...
