We have recently witnessed several Swedish governmental decisions and recommendations that restrict citizens and businesses, in order to reduce social contact due to the outbreak of Covid-19. However, so far the authorities have not made any decrees that force tenants to close their businesses, such as restaurants and shops, or that prevent landlords from fulfilling their duty to provide the premises ...
On April 3, 2020, small business owners started applying for forgivable loans under the Paycheck Protection Program (PPP) to help keep their workforce employed during the COVID-19 pandemic. As the program got underway, the Small Business Administration (SBA) rolled out important new guidance for small businesses, including an updated loan application form and comprehensive guidance on PPP requirements for borrowers and lenders ...
The provisions of the newly-enacted CARES ACT that have been receiving the most attention from owners of small businesses that have been devastated by the COVID-19 pandemic are those relating to the business-sustaining forgivable loans and tax benefits that will potentially be available to those companies ...
Integrated projects are pointing to the future of land use in increasingly crowded Singapore, but will they become white elephants as technology brings us (virtually) closer together than before? As an Alpha+ world city, Singapore sits alongside commercial powerhouses like Beijing, Paris and Sydney as one of the world’s most globalised cities ...
You’ve read the qualifying language before: across the country, construction projects are being impacted by the COVID-19 pandemic. We thought it important to prepare guidelines to assist contractors in navigating the situation from a risk management perspective. The situation is dynamic and will change quickly. A one-size-fits-all solution does not exist, and this global challenge continues to evolve. What works today may not address tomorrow’s needs ...
Like most industries, tech startups have been deeply impacted by the COVID-19 pandemic. As they scramble to adapt to a rapidly changing climate, tech leaders are asking if, and to what extent, their businesses can benefit from the $2 trillion stimulus package known as the CARES Act ...
Chances are your business has been interrupted by the Coronavirus epidemic, and if you rent space, you are considering how to obtain rent concessions from your landlord. Most likely, your lease will not give you an express right to rent abatement if your use is precluded by a "shelter-in-place" order or other government action ...
By Ordinance dated April 1ston emergency measures relating to staff representative bodies (“IRP”), the Government had provided for the possibility for companies to hold meetings with their IRP via videoconference or conference call but also by instant messaging app if the two first means cannot be used. By Decree published on April 10th, 2020, the Government provided clarifications on how to use conference calls and instant messaging ...
LATEST UPDATE - April 3, 2020 In response to the Coronavirus pandemic, the President signed H.R. 748, known as the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act on March 27, 2020. The bill provides more than $2 trillion of aid to individuals and the public and private sector ...
Introduction The UK government has recently adopted a series of recommendations aimed to face the Coronavirus outbreak due to the rise in the number of infections and deaths caused by this virus. The strict approach of the UK Government would be in line with the measures adopted by the other countries in Europe, such as Italy or Spain ...
According to the report published by Fitch Ratings, the sharp fall in oil and the efforts of the National Government to overcome the COVID-19 pandemic are the main causes of the weakening of the fiscal and economic capacity of the country that has resulted in the rating downgrade from BBB to BBB-, the lowest rating within investment grade ...
The Superintendence of Finance issued resolution 368 of 2020 in which it adopted special measures for the attention of the public and the provision of services by this entity. Through this regulation, the SFC ordered the resumption of terms of all the administrative actions carried out by the SFC, as of April 2, 2020 ...
On April 2, 2020, the U.S. Small Business Administration (SBA) issued an interim final rule, providing additional guidance on the Paycheck Protection Program (PPP). Click here to read the full text of the Interim Final Rule. Here are some of the highlights of new and/or clarified information from the previous guidance issued by Treasury and SBA and the text of the CARES Act: Eligibility Only U.S ...
On April 2, 2020, the U.S. Department of the Treasury issued afinal borrower applicationand provided lenders with therequired datathe federal government will collect electronically to guarantee the loans. The lender application form requires the lender to certify they have gathered the requisite information from the applicant, as outlined in the updated borrower application form ...
The State of California and the City of Los Angeles are providing emergency assistance for California small businesses. These grants and loans are separate from incentives and programs being offered by the U.S. Small Business Administration. The State is also reminding businesses of existing small business loan programs that affected businesses can utilize. Information about the programs and how to apply is set forth below. State of California Loan Programs 1 ...
The Ministry of Finance and Public Credit issued Legislative Decree 492 of 2020, which establishes measures for the strengthening of the National Guarantee Fund (FNG) and makes provisions for resources, within the framework of Decree 417 of 2020 which declared the Economic, Social and Ecological Emergency ...
1. Introduction The Law Decree n. 18 of 17 March 2020 (the so-called "Cura Italia" Decree, the "Decree"), providing "Measures to strengthen the national healthcare system and to economically support households, workers and enterprises in the context of the COVID-19 epidemiological emergency" has been published on the Official Gazette of the Republic of Italy no. 701 of 17 March 2020. The Decree covers mainly the following four areas of intervention: a ...
During the Great Recession, fund finance professionals spent a lot of time analyzing and speculating about the impact of the financial crisis on fundraising, the potential for the failure of limited partners to honor their capital contribution obligations to funds, and the strength of facility structures and documentation. That makes the current scene familiar to many of us ...
On March 30, 2020, the Department of the Treasury published guidelines and procedures for passenger and cargo air carriers (together, “Air Carriers”) seeking relief under the recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act ...
The Coronavirus pandemic is impacting every business sector across the globe. Many new resources, however, including the new Coronavirus Aid, Relief, and Economic Security (CARES) Act, provide franchise and hospitality businesses with opportunities for relief. The following information is intended to aid franchise and hospitality companies in understanding options available to them during this time ...
The Government announced on 1 April 2020 its proposal of a Program of economic measures to reduce the negative effects caused by the COVID-19 pandemic and an attempt to support the economy of Serbia, split into four categories ...
In an expedited process, a Federal Law amending several legislative acts was passed by the State Duma and Federal Council of the Russian Federation. In particular, the law envisages use of the power of the Government of the Russian Federation to impose, in extraordinary cases, a moratorium on insolvency proceedings and provides a legal regime of such moratorium ...
On March 27, 2020, the Government of Alberta announced new measures to address residential tenancy issues arising during and as a result of the COVID-19 pandemic. Max Carroll and Jeffrey Hernaez of our Vancouver office wrote yesterday about similar measures put in place in British Columbia ...
