Aid for self-employed persons and small and medium-sized enterprises (SMEs) affected by anti-coronavirus measures pursuant to the Czech Government’s 'COVID GUARANTEE' programme was exhausted in one day. On Monday, March 30, 2020, the terms and conditions of the follow-up COVID II program will be published, in which CZK 5 billion should be available. The rush of applications is expected, so action needs to be taken quickly and not delayed ...
What does "state of emergency" actually meanand what are the powers of the Government in the regard? Can someone claim damages incurred in relation to the state of emergency? State of Emergency With effect from 12 March 2020 at 2 pm, the Government of the Czech Republic (the “Government”) has declared a state of emergency for 30 days for the territory of the Czech Republic due to health threats related to the presence of coronavirus in the Czech Republic (Governme
The set of several emergency measures of the Ministry of Health dated 23 March 2020 banned the retail sale of goods and services. It also banned the public presence at selected premises or selected times, prohibited the operation of certain premises, prohibited the free movement of persons or restricted the activities of public authorities and administrative bodies. On 26 March 2020 the Ministry of Health amended these measures ...
The current situation has a considerable impact on employment relations ...
Many governmentalregulations may prevent contractual obligations from being duly fulfilled. How can you best handlethe performance, or more precisely, thenon-performance of your contracts? Force majeure Section 2913 of Act No. 89/2012 Coll ...
On 23 September 2018 Federal Decree-Law 19 of 2018 regarding Foreign Direct Investment (the FDI Law) was issued. Through the FDI Law the foundations were laid for the relaxation of the 51 per cent UAE national ownership requirement for companies incorporated onshore in the UAE ...
In the face of the COVID-19 pandemic, Governor J.B. Pritzker has provided relief to Illinois consumers’ pocketbooks. On April 14, 2020, the Governor issued Executive Order in Response to COVID-19 No. 23 (“Executive Order 23”). The stated purpose of Executive Order 23 is to ensure that Illinois residents have funds for essential items such as food, medicine, housing, and transportation by temporarily suspending certain consumer debt collection measures ...
This is a briefing on the following issuances as of April 12, 2020 in relation to the COVID-19 pandemic:I. Extension until April 30 of the Enhanced Community Quarantine (ECQ) over LuzonA. Declaration of the Extension of the ECQB. Bureau of Internal Revenue (BIR) IssuancesC. Supreme Court Extends Deadlines for Filing of DocumentsD. Securities and Exchange Commission (SEC) IssuancesE. Intellectual Property Office (IPOPHL) Extends Filing and Payment DeadlinesF ...
Adopted as part of the measures supporting enterprises in the context of the Covid-19 crisis, the ordinance n° 2020-306 of March 25th, 2020 contains the following temporary provisions applicable to contractual deadlines: SUSPENSION OF THE CONTRACTUAL STIPULATIONS SANCTIONING THE NON-PERFORMANCE OF AN OBLIGATION According to Article 4 of the ordinance: “Penalty payments, penalty clauses, termination clauses and acceleration clauses, the purpose of which is to sanction the non-
The Government of Serbia adopted the Regulation on the Procedure for Issuance of Debt Securities (“Regulation”). This is one of the economic measures presented to reduce the negative effects caused by the COVID-19 pandemic and an attempt to support the economy of Serbia. The Regulation entered into the force on 10 April 2020 ...
The nearly global response to the spread of the deadly Coronavirus has led to governmental authorities at all levels issuing “stay-at-home orders,” “orders to close non-essential businesses,” and bans on gatherings of 10 people or more. The resulting shut-down, as well as the impact of widespread remote-working practices and displacement of personnel, may disrupt or interrupt trading and hedging activity ...
April 14, 2020, the SBA issued new guidance on the treatment of service partners for Payroll Protection Program (PPP) loans. The Interim Final Rule Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans clarifies that individuals treated as partners may not submit a separate PPP loan application as an "eligible self-employed individuals ...
COVID-19's impact on contract performance looms large over business and industries across the globe. This presentation will address whether and how COVID-19 operates contractually as a force majeure event in the US and key foreign markets including Canada, Mexico, Asia, Europe and Australia ...
On March 27, 2020, President Donald Trump signed into law the third major coronavirus-related legislation in the last several weeks – the Coronavirus Aid, Relief, and Economic Security (CARES) Act – in response to the pandemic and resulting economic crisis. The CARES Act includes substantial federal spending and loan commitments that will benefit individuals and businesses. But that is not all ...
This is a summary in which we have briefly described the main regulations issued so far in Argentina during the COVID-19 health emergency that affect or are related to fintech and digital banking activities ...
What Is It? On April 9, the Federal Reserve Board revealed details about the previously announced Main Street Lending Program. Even larger than the Paycheck Protection Program, the Main Street Lending Program is geared toward mid-sized businesses. Its principal purpose is to get 4-year loans with deferred principal and interest payments to mid-sized businesses with up to 10,000 employees or less than $2.5 billion in revenue ...
Law Decree n. 23 of 8 April 2020 (the “Liquidity Decree”) has introduced significant changes to the socalled “golden power rules” and to the disclosure duty of relevant shareholdings in listed companies. These rules are aimed at discouraging “predatory purchases” of Italian strategic and listed companies in times when their share price may be particularly depressed due to the COVID-19 emergency ...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, provides $2 trillion in relief funds for individuals and businesses, including $500 billion in direct aid for large companies and more than $300 billion for small companies. Businesses applying for and receiving funds under the CARES Act should be mindful of risks associated with stringent government oversight and inevitable investigations targeting waste, fraud, and abuse ...
Application of the Occupational Health and Safety Act, 1993 (the "OHASA")? Several health and safety obligations (both general and specific) towards employees are imposed on an employer or user in respect of the "workplace". The term "workplace" is also defined broadly in the OHASA as "any premises or place where a person performs work in the course of his employment" ...
The Coronavirus (COVID-19) pandemic, which has disrupted lives and continues to wreak havoc on the global economy, has seen a sudden and dramatic shift in the way we live. Previously, uncommon concepts and practices such as social distancing, lockdown, quarantine and self-isolation have now rapidly become part of our daily parlance. Unsurprisingly, in view of the swift rise of death rates associated with the pandemic, many people are being reminded of their own mortality ...
Like many other countries worldwide, South Africa went into a 21-day national lockdown on 27 March, in an effort to help slow down the spread of the Coronavirus (COVID-19). The lockdown has already had a devastating impact on the economy and on employment in a country that was already in recession. This has already been felt by many in their pockets ...
Given the fact that many countries are under some form of lockdown as a result of the Coronavirus (COVID-19) pandemic, organisations that are able to do so, are now working remotely, with video conferencing platforms enabling people to have virtual meetings just like they were face to face. However, there are growing privacy concerns over the use of these platforms, with some in the spotlight for sharing data with Facebook ...
A strike, and employees’ actions during a strike, will almost inevitably cause an employer losses. In terms of South African common law, an employer may have a delictual remedy at its disposal. It can, in certain circumstances, sue the union or its members for the losses suffered ...
