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 ...
On March 15, 2020, Governor Whitmer issued an Executive Order, effective 9 a.m. March 16, 2020, through April 13, 2020, imposing two restrictions aimed at preventing price gouging during the COVID-19 emergency. These restrictions, issued pursuant to her powers after declaring a State of Emergency on March 10, 2020, apply to offers or sales of products in Michigan. The first restriction applies only to resales of products acquired from retailers ...
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 ...
The Financial Services industry has been quick to respond to the struggles facing individuals and businesses during the current coronavirus pandemic, but there are issues they need to consider when implementing their forbearance measures ...
ESMA DECISION The European Securities and Markets Authority („ESMA“) announced today the decision to lower the initial reporting threshold for net short positions under the EU Short Selling Regulation to 0.1 percent (the „ESMA Decision“). The ESMA Decision has entered into force immediately after its publication on ESMA’s website. INITIAL REPORTING THRESHOLD NOW 0.1 PERCENT (PRIOR: 0 ...
The consequences of the coronavirus are omnipresent and felt by everyone. Management Board members and Directors of issuers of securities listed on the open or regulated market are faced with the question whether ad hoc publicity obligations are arising for their companies in connection with the corona crisis. The abstract circumstance of the occurrence of a recession as a result of the spread of the coronavirus does not trigger an ad hoc disclosure obligation ...
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 ...
Many organizations may be parties to contracts where the counterparty is seeking to cancel its obligations because of COVID-19. This situation is arising in relation to various commercial relationships, including supply agreements, events planning contracts, and numerous other types of agreements ...
Already, the COVID-19 pandemic has had far-reaching effects on the global economy and particularly on the German economy as well: interrupted international supply chains, travel restrictions, or the cancelation of major events and trade shows – all of this poses considerable challenges for the manufacturing, trade, transportation, tourism, and event organizer sectors in Germany ...
We regularly work with financial institutions to navigate the challenges of implementing, maintaining, and using security procedures for commercial customers’ use of treasury management services. Security procedures are an integral part of the relationship between the financial institution and its commercial customers ...
As the number of novel coronavirus infections (“Covid-19” or “Coronavirus”) and fatalities continue to rise, on 11 March 2020 the Italian Prime Minister issued a decree to impose new emergency measures to contain and manage the spread of the virus (the “11 March Decree”). Always on 11 March, the World Health Organisation has declared that Covid ...
The COVID-19 virus (commonly known as the “coronavirus”) is affecting companies’ commercial activities around the world, with particular impact on supply chains and employment and insurance law. There is also a question around the measures the competent authorities may impose to prevent or contain the spread of the coronavirus. A ...
This is a question being asked by many companies. Is the severity of this event such that it enables companies to temporarily (or permanently) be excused from performance of their contractual obligations? As is often the case with legal questions, it depends. The term “force majeure” does not have a recognised meaning under English law ...
Introduction The supply chain effects from the global spread of the novel coronavirus have been building for nearly two months, and are expected to reach a peak in the near future (if not necessarily then to recede).[1] The effects have centered on China to date, but the epidemic has spread to other centers of production and the duration of its threat to public health and of the governmental and social measures taken to address its spread remains unknown ...
The outbreak of COVID-19 comes on the back of an already tumultuous two years for the global economy, markets and trade where the US-China "trade war" and other trade tensions and macroeconomic factors have created uncertainty, commercial losses and subdued growth prospects ...
Companies, municipalities, and water systems must now report their per- and polyfluoroalkyl substances (PFAS) use to the federal government. A new federal law requires facilities using 100 pounds per year of a listed PFAS compound to self-report to the national Toxics Release Inventory (TRI). Monitoring and reporting requirements are often prerequisites to cleanup and enforcement, and this collection of data may be a bellwether for the future regulation of PFAS ...
The stock market is undoubtedly one of the most important economic forces in the world. Every year, billions of dollars are moved through stock exchange operations, and year after year, in most jurisdictions, the stock market is promoted as a tool for financing or capturing capital for issuers and as an investment for thousands of participants seeking to place their funds in higher yield investments ...
With the economy facing downward pressure, the Hong Kong Government is rolling out various supporting and funding measures to help enterprises. The $30 billion HK$ Anti-epidemic Fund The Legislative Council Finance Committee approved the $30 billion Anti-epidemic Fund on 21 February 2020, more than half of which - HK$16.9 billion - will serve as one-off cash injections to retailers, food and beverages service providers, start-ups and other businesses ...
On January 27, 2020, the Financial Market Commission (“FMC”) published, for public consultation purposes, a proposed amendment to its Updated Regulations Compendium, by means of introducing two new Chapters: Chapter 21-6, on credit risk-weighted assets determination, and Chapter 21-12, on additional basic capital ...
In our geography in constant transition, resources must be shielded, which is why we must revisit as investors the macro trends as economists call it, prudence in investment matters is imposed without restraining dynamism, only taking it in a gradual and diversified way. Investing in companies or funds with a green seal is one of the strategies that have been outlined for this new year 2020 ...
