Much like the Spring tornadoes that tear through the Midwest each year leaving damage in their wake, COVID-19 is silently tearing through the entire United States leaving a wake of destruction that has and will continue to affect state and local governmental entities for months, if not years, to come ...
Q&A procedures before the Public Health Institute (ISP) May I file for sanitary registrations? Requests for sanitary registrations for pharmaceutical products, cosmetics and others regulated, as well as for their modifications, may be filed for through the GICONA portal, and official tariffs shall be paid only through electronic transfer of funds ...
In the context of the current sanitary alert, several bills of law have been filed with Congress, seeking to regulate certain aspects associated to states of emergency and sanitary crises in particular.To such ends, the bills that stand out are:I. Bill prohibiting and penalizing price increases in the face of epidemics or pandemics:On Tuesday 17 March 2020, a bill was filed with the Lower Chamber (Newsletter 13 ...
The COVID-19 pandemic is determining more and more businesses to “put the lock” on their offices. This means that a large number of employees all over the world have already been forced to set their homes as comfortable as possible to ensure an appropriate work environment ...
In the new economic reality, businesses that took out loans may be asking themselves many questions. Will existing loans still be paid out? Will an expiring credit line be extended? And will the state of epidemic justify not repaying debt already incurred? COVID-19 and the related restrictions introduced overnight by country after country have shifted businesses into anew reality. Among the challenges is ensuring the continuity of bank financing and the capacity to repay existing debt ...
Among many problems facing businesses now is efficient management and decision-making when members of the company’s governing bodies cannot appear in person at headquarters for various reasons. Technology ensures efficient communications, but the possibility for corporate bodies to take resolutions remotely has been debatable in some situations ...
Perhaps, one of the facts which creates the highest expectations among those of us who manage the second or third defense line is risk materialization. That is to say, for a risk to become an event and generate some kind of impact. And from there on, the possibility of verifying the effectiveness of the controls designed, the residual risk and feeding back the matrix ...
UK law firm Shoosmiths has been mobilising its legal advisors and support staff to keep its clients up-to-date on the many potential impacts of the coronavirus outbreak. Its free, online COVID-19 hub is already packed with a wealth of information on topics that might have both short and long-term effects on business ...
The Illinois Department of Commerce and Economic Opportunity (the Department) and the City of Chicago (the City) are providing emergency assistance for Illinois small businesses. These grants and loans are separate from incentives and programs being offered by the U.S. Small Business Administration. Information about the programs and how to apply is set forth below ...
At a press conference today, on 29 March 2020, representatives of the Government of the Slovak Republic presented the first set of economic measures, the purpose of which is so-calledFirst Aid to Employees, Companies and Self-Employed Entrepreneurs ...
Significant responsibility for ensuring compliance with directives to stop the spread of the Covid-19 virus has been delegated to the law enforcement authorities of the UAE. Last week, the Cabinet promulgated Resolution No. 17 of 2020, requiring all natural and juristic persons to comply with the measures mandated by the concerned authorities to combat Covid-19 ...
Impact of the Czech Government measures on employment relations The current situation has a considerable impact on employment relations ...
COVID II programme – Government financial support for self-employed and small and medium-sized enterprises Aid for self-employed persons ('self-employed') 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 ...
Czech Government Approves Mitigation Measures Related to Coronavirus Emergency UPDATED In connection with the coronavirus emergency, the Czech government has approved a liberation tax package aimed at mitigating the consequences of the emergency ...
Czech Health Ministry's Special Measures UPDATED The government explicitly stated in the Emergency Resolution that the Health Ministry’s existing emergency measures are not to be affected by the state of emergency, which means that they remain valid and must be observed. All the Health Ministry’s special measures introduced valid after the emergency was announced must be observed as well. A brief summary (updated on 19March 2020) is outlined below ...
The offence of spreading coronavirus From what point exactly is the spreading of COVID-19 a criminal offence? Is it only intentional spreading that is punishable or is negligence also a criminal offence? What is at stake? What are the aggravating circumstances and when do the penalties increase? And can these criminal offences also be committed by a legal entity? The Government of the Czech Republic adopted, as a part of emergency measures due to health threat, Regulation No ...
You or your Chinese clients may have investment in Malaysia (for example, subsidiaries (“MY Sub”)) and this serves as a guide for your reference. Pursuant to the Movement Control Order (“MCO”)[i], all business activities (save for essential services) in Malaysia must be suspended from 18 March 2020 until 31 March 2020. The duration of the MCO has since been extended until 14 April 2020[ii] ...
26 March 2020 Chilean Central Bank sets rules on special financing for banking institutions to support funding and refinancing of consumer andcorporate loans, along a temporary flexibilization of its regulation onliquidity management in the banking industry As a response to the financial tensions triggered by the dissemination of Covid-19, the Chilean Central Bank (BCCh) announced on Monday 23 March 2020 a series of measures aimed atgranting liquidity for the economy and supporting the
Although the coronavirus is an extraordinary situation making financial communication both necessary and particularly sensitive, there is no indication at this stage that listed companies will benefit from any exemptions regarding compliance with their legal obligations or from any forbearance from theAutorité des Marchés Financiers(“AMF”) ...
The covid19 global crisis and the relating lockdown measures will strongly impact the activity of borrowers and the value of their assets. Their repayment capacity and their liquidity needs will also be affected. The crisis also impacts lenders and the operation of financial markets. We outline advice to meet the difficulties that may arise in the implementation and negotiation of financing agreements. 1 ...
The French Government Ordinance enacted on 26 March 2020[1] create a solidarity fund intended to provide financial aid to natural and private law legal persons having economic activity severely affected by the Covid19 crisis. The Solidarity Fund is created for a three-month period (renewable once for the same duration by decree) and will be funded by the State, and on voluntary basis, by regions and certain other territorial authorities ...
PUBLICATION OF TWO ORDINANCES OF MARCH 25, 2020 CONCERNING THE DELIBERATION OF THE CORPORATE BODIES AND THE APPROVAL OF THE ANNUAL ACCOUNTS Two ordinances were published on March 25, 2020, in order to allow (i) shareholders’ meetings to be held behind closed doors, (ii) boards of directors or supervisory boards to meet remotely even for the purpose of approving the annual accounts or without any provision in this respect in the by-laws, and (iii) an extension of the deadlines fo
There is no better time than the present to create and implement an estate plan. Having an estate plan means that you have a plan to protect your property and to effectively dispose of itupon your death. You do not want the law to decide who should get you rproperty in the event of your death but that is exactly what would happen if you do not have an estate plan and, in particular, if you die without a Will (dying “intestate”) ...
