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 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 ...
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 ...
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 ...
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 ...
Cryptocurrency, blockchain technology and fintech companies are well experienced in dealing with legal and regulatory issues that are unique, unprecedented and global. While usually creative and oriented to solving problems, even the most flexible of teams are stretched with the onslaught of issues unfolding in the wake of COVID-19 ...
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 ...
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 ...
In an earlier post, we started discussing the IRS’ “John Doe” summons to Coinbase, a virtual currency exchange, to obtain information about every Coinbase user, who, at any time during the period of January 1, 2013 through December 31, 2015, conducted transactions in a convertible virtual currency as defined in IRS Notice 2014-21. One such user filed a motion to intervene in the proceeding and to quash the IRS’ summons ...
Florida legislature passes bill to add virtual currencies to money laundering statute in response to last year’s court ruling that bitcoin can’t be the basis for money laundering charges Last year, a Miami judge dismissed criminal charges against a Florida-based bitcoin seller who had been caught in a sting in which undercover law enforcement officers engaged him to convert cash into bitcoin. They told him they intended to use the bitcoin to buy stolen credit card numbers ...
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 ...
At a news conference on April 20, Governor Wolf announced he is extending his stay-at-home order until May 8, 2020. But in a nod to a construction industry that has been particularly hard-hit by the Governor’s shutdown and stay-at-home orders, Governor Wolf said he also will permit construction (both residential and non-residential construction) to resume throughout the Commonwealth on May 8, 2020 ...
GERMAN GOVERNMENT INTENDS TO INCREASE HURDLES FOR ACQUIRING GERMAN COMPANIES IN STRATEGICALLY IMPORTANT BUSINESS SECTORS On April 8, 2020, the German government adopted the draft bill of the Federal Ministry for Economic Affairs to amend the Foreign Trade and Payments Act (Außenwirtschaftsgesetz, AWG) ...
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 Crypto Assets Regulatory Working Group (“CAR WG”) of the Intergovernmental Fintech Working Group (“IFWG”) has released its long-anticipated position paper on crypto assets. The position paper proposes that a clear regulatory policy for crypto assets be adopted in South Africa. However, it is still recommend that crypto assets not be regarded as legal tender or public money ...
