On 23 April 2020, the Municipal Court in Prague issued a judgment upholding the petition for annulment of certain measures of the Ministry of Health issued in connection with the COVID-19 pandemic. With effect from 27 April 2020, the Court annulled two extraordinary measures of the Ministry of Health of 17 April 2020 and 26 March 2020 on the restriction of retail sales and two extraordinary measures of the Ministry of Health of 15 April 2020 and 23 3 ...
The new COVID Prague program focused on business activities in the Capital City of Prague followed the fate of its predecessors COVID I and COVID II. This means that the available funds were exhausted on the same day as the receipt of applications, which thus ends. The COVID I and COVID II programs are also exhausted. Entrepreneurs thus have no choice but to wait for the announcement of the conditions of the COVID III program ...
The Ministry of Finance proposes the abolition of a 4 percent real estate acquisition tax. The proposal will be discussed on Friday 17 April by the Coalition Council of the Government and the National Economic Council of the Government (NECG) ...
The Government recently approved the amendment of the Compensation Bonus Act. This Act, which was published in the Collection of Laws on 14 April 2020, and, with effect from 15 April 2020, introduced another instrument of support for self-employed persons whose business was negatively affected in connection with coronavirus. This extends the period for which the self-employed will be able to claim a bonus ...
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) ...
On April 21, 2020, the Minister of Public Safety and Solicitor General of British Columbia issued a Ministerial Order (the “Order”) permitting electronic attendance at meetings (collectively referred to as “Corporate Meetings”) held pursuant to the Business Corporations Act, the Cooperative Association Act and the Societies Act (collectively, the “Statutes”) ...
Another week brings another round of COVID-19-related lawsuits. We are identifying some early trends and provide a synopsis of the more relevant lawsuits below. Will nursing homes be overwhelmed by wrongful death lawsuits? The daughter of a woman suspected to have died from COVID-19 has filed a wrongful death suit against the company who owns the Life Care Center of Kirkland where her mother was a resident ...
The Small Business Administration emphasizes that businesses who participate in the Paycheck Protection Program must make a good faith certification that the loan request is “necessary” to support ongoing operations due to the current economic uncertainty ...
Another week brings another round of COVID-19-related lawsuits. We are identifying some early trends and provide a synopsis of the more relevant lawsuits below. Will nursing homes be overwhelmed by wrongful death lawsuits? The daughter of a woman suspected to have died from COVID-19 has filed a wrongful death suit against the company who owns the Life Care Center of Kirkland where her mother was a resident ...
Key Points: New guidance from the SBA clarifies the "necessity" requirement for PPP loans. Start-ups should proceed with caution when planning to apply for a PPP loan. Since the passage over the Coronavirus Aid, Relief, and Economic Security Act, or the CARES ACT (the “Act”) start-ups and emerging companies have received mixed signals and guidance regarding their eligibility for loans and loan forgiveness under the Paycheck Protection Program ("PPP") ...
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 ...
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 ...
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 ...
The U.S. Food and Drug Administration (FDA) recently issued a burst of COVID-19-related guidance documents to facilitate expanded availability of medical products during the current public health emergency created by COVID-19. FDA-regulated products under these temporary policies include: PPE, diagnostic tests, hand sanitizers, disinfectant devices, remote monitoring devices, ventilators, and electronic thermometers for clinical use ...
