President Trump signed H.R.266, the Paycheck Protection Program and Health Care Enhancement Act (the “PPP/HCE Act”) this afternoon following passage of the bill by both houses of Congress. The PPP/HCE Act provides additional funding for small business loan and grant programs administered by the Small Business Administration (“SBA”) in response to the COVID-19 pandemic ...
Today, the federal government enacted the Paycheck Protection Program and Health Care Enhancement Act (the “PPP/HCE Act”) to provide additional funding for loan and grant programs in response to the COVID-19 pandemic. The PPP/HCE Act modifies and increases funding for the Paycheck Protection Program and the Small Business Administration Economic Injury Disaster Loan program, as discussed in greater detail here ...
The Circular provides guidance on protection matters, aimed at drivers and operators in the logistics chain of land and river cargo transport, companies and drivers of public road passenger transport services, special, individual, mass, collective, mixed, cable transport, land transport terminals, rail transport and concessionaires of mass transport systems, which continue to be implemented during the health emergency, in order to prevent, reduce exposure and mitigate the risk of exposur
In a turn of events, likely in response to the headlines relating to companies and others returning PPP loan proceeds, on April 23, 2020, the Small Business Administration (SBA) and Department of the Treasury updated the Paycheck Protection Program Loans Frequently Asked Questions to include Question 31, which has been seen by many as a change in eligibility. The CARES Act specifically suspended the SBA 7(a) loan program requirement that borrowers be unable to obtain credit elsewhere ...
On April 24, 2020, Governor Whitmer reaffirmed the stay-at-home measures set forth in Executive Order 2020-42, amended the scope of that order, and extended the duration of such measures through May 15, 2020 (unless modified earlier). While many of the restrictions from her prior executive orders remain in place, Executive Order 2020-59 includes some easing of in-person operation restrictions as well as some corresponding requirements for those operations ...
With nearly five years of enforcement experience since the coming into effect of the Competition Ordinance (Ordinance), on 16 April 2020, the Hong Kong Competition Commission (Commission) published a revised Leniency Policy for Undertakings Engaged in Cartel Conduct (Leniency Policy for Undertakings) and introduced a new Leniency Policy for Individuals Involved in Cartel Conduct (Leniency Policy for Individuals) (collectively, Leniency Policies) ...
The evening of April 22, Governor Wolf presented his detailed plan for reopening Pennsylvania beginning May 8, 2020. The reopening will be done in three phases: red, yellow, and green. The entire Commonwealth is currently under the red phase, which has the purpose of minimizing the spread of COVID-19 through social distancing, implementing safety protocols, and closing schools and businesses that have been deemed non-life sustaining ...
The stock market has had record declines and many businesses are shuttered, at least temporarily. Long-term prospects may still be positive but in the near-term the value of many entities has reduced. Are there transactions that privately-held businesses and their owners could implement that would allow them to achieve long-term goals that could benefit the business, the owner, and owner’s family? We believe that there are ...
Professor Andrew Muscat, who heads the Corporate Law Department at the Firm, has published a series of articles in the Times of Malta dealing with the duties and liabilities of directors of a company experiencing financial difficulties. This subject is particularly relevant these days when several companies are finding themselves in a difficult position as a result of the Covid-19 worldwide pandemic ...
The COVID-19 pandemic has had a disproportionate impact on skilled nursing and assisted living facilities. While the following CMS recommendations and guidelines identify nursing homes as the target recipients, they are applicable to all facilities that receive Medicare and Medicaid funds, and are therefore subject to CMS's oversight ...
The so called “break-even point” is a relevant concept in business economy. Simply speaking, a company is in break-even point when the number of product units sold equals its Total Fixed Cost, divided by the respective Contribution Margin per Unit (i.e ...
Key Points: SF Major extends commercial eviction moratorium through May 17, 2020. Moratorium applies only to commercial tenants registered to do business in San Francisco meeting certain requirements. Moratorium applies to all attempts to recover possession due to non-payment. Moratorium covers security deposits ...
Panama, April 6, 2020. On Tuesday March 24th, 2020, the Executive Decree 251 of the same date was published in Official Gazette 28987-A which adopts tax measures to relief the economic effects of the National State of Emergency ...
As of 16 March, the day when the state of emergency was declared in Romania, the Government has adopted an impressive number of pieces of legislation aimed at preventing and limiting the spread of the new coronavirus, on one hand, and at reducing the negative impact on economy of the implemented solutions, on the other hand. To be specific, we are talking about 75 acts (primary and secondary legislation) adopted in the course of approximately 1 month ...
Introduction In late 2019, the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development (ADDED) launched the Abu Dhabi Local Content (ADLC) Program in a trial phase. In April of 2020, the IDB announced implementation of the ADLC Program, which will apply to more than 1,244 governmental and semi-governmental tenders worth approximately AED 15 billion ...
The digital signature in Bolivia was created by the General Law on Telecommunications, Information and Communication Technologies No. 164, published on August 8, 2011, granting full legal and evidentiary validity to the legal act or business carried out using this technological tool. Supreme Decree No ...
The Plurinational State of Bolivia, within the framework of its governmental powers and in accordance with the Declaration of Sanitary Emergency and Quarantine established in recent days, has determined to strengthen the latest measures. The government has conviniently declared that the total quarantine, extends until April 30, 2020, maintaining the suspension of public and private activities ...
Key Points: Since Governor Newsom announced a state of emergency due to the COVID-19 outbreak, private Proposition 65 enforcement has increased by about 50%. Effective April 1st, new regulations clarify how manufacturers can satisfy their Proposition 65 warning obligations. These new regulations also clarify when retail sellers assume the burden under Proposition 65 to warn Californians ...
In light of the declaration of a national state of disaster as a result of the Coronavirus (COVID-19) pandemic, it is now likely that schools and further learning institutions in South Africa will remain closed for the foreseeable future (even after the national lockdown period) and online teaching will be inevitable. However, privacy, data protection and security are critical when teachers and learners are working remotely due to the higher risk of personal data breaches ...
Market participants are undertaking significant work to prepare for a transition away from the London Interbank Offered Rate (“LIBOR”). The Financial Conduct Authority (“FCA”) in the UK has made it clear that the publication and dissemination of LIBOR cannot be guaranteed after 2021. The launch and reform of preferred alternative reference rates to USD LIBOR and GBP LIBOR are important steps in this transition journey ...
The prosperous and globalized world as we know it has been suddenly slammed. Henry Kissinger, in his article published in WSJ on April 4, states that the historic challenge for the current leaders will be to manage the crisis while building a new future. If they fail, the world would be set on fire. He also says that nations rely on their institutions to foresee and deal with calamities, to arrest their impact and to restore stability ...
If you spend any time reading about the virtual currency space, you’ve picked up that blockchain technology is creeping into hundreds of industries and countries worldwide as more and more people create ways to use the public electronic ledger to better our lives in the not-too-distant future. Money transfers, trade settlements, property and health records, and just about any other part of the human endeavor are being tweaked, changed, and disrupted by this new technology ...
