In connection with the coronavirus, prices for transport services have increased, in some cases very considerably, such as when a reduction in freight space necessitates rebooking and rescheduling. Not everyone, and not even all commercial customers, may be aware of these price increases. It is also questionable whether corona-related additional costs may always be deemed usual remuneration (Section 632 German Civil Code) ...
On March 4, 2020, Governor Newsom declared a State of Emergency in the State of California as a result of the threat of COVID-19 ...
As the COVID-19/Coronavirus (COVID-19) continues to spread and affect our lives, the only certainty seems to be uncertainty. What is becoming clear is that both the short term and long term economic effects of the outbreak are likely to be significant. In light of this, real estate clients are asking important questions regarding the potential legal issues COVID-19 may have on their rights as real estate owners and operators ...
Recent market volatility and the public health implications of the spread of coronavirus (COVID-19) have been unsettling. It can be stabilizing in turbulent times to take a deep breath, focus on long-term planning strategies and goals, and assess whether there might be new opportunities to enhance your estate plan ...
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 ...
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 ...
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 ...
The UAE authorities have been dynamic in implementing measures to control the spread of COVID-19 within the UAE. Please find below a non-exhaustive list of noteworthy measures that have been implemented by various UAE authorities to date ...
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 ...
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 ...
On 17 February 2020, we wrote our first notes on the effect of the virus on shipping. Since then, both the outbreak as well as the measures against it are spreading wider. Link to our first article about the Covid-19 and its impact on Shipping. We have received numerous queries from our clients and have assisted in establishing management plans for situations ranging from chartering, to shipbuilding and sale and purchase through to notices to master and crew on board ...
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 ...
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 4, 2020, the U.S ...
We are conscious that the COVID-19 (Coronavirus) pandemic is top of mind for everyone these days, and our first hope is that all of our clients and their loved ones are healthy and safe. Many of our private lending clients have had questions regarding actions they should be taking in response to the pandemic and the effect voluntary and, in some cases mandated, “social distancing” measures are having on their businesses and the economy ...
On March 11, 2020, the City of San Francisco announced measures to support small businesses in light of the COVID-19 outbreak. The City’s support efforts include the deferral of business taxes and licensing fees, as well as the launch of an economic relief fund ...
A more recent examination of H.R. 6201, Family Medical Leave Act Expansion, is available here. In the early morning hours of March 14, the House passed H.R. 6201, which now moves to the Senate, where changes are likely to be made before enactment ...
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 ...
