The COVID-19 pandemic has forced companies to change the way that they do business. The fact that the National Capital Region is currently under a Modified Enhanced Community Quarantine (MECQ),[1] and prior to that, was under Enhanced Community Quarantine (ECQ) for two months since 16 March 2020, makes it difficult for Philippine domestic corporations to navigate the Philippine business landscape and conduct business as usual ...
Section 29 of the Bankruptcy Ordinance (Cap. 6) (BO) allows a trustee in bankruptcy to apply to the Courts for orders compelling disclosure of material documents and/or information of the bankrupt in order for the trustee to carry out his/her duties under the bankruptcy. For the authors’ previous article on Section 29, please see here ...
Section 29 of the Bankruptcy Ordinance (Cap. 6) (BO) allows a trustee in bankruptcy to apply to the Courts for orders compelling disclosure of material documents and/or information of the bankrupt in order for the trustee to carry out his/her duties under the bankruptcy. For the authors’ previous article on Section 29, please see here ...
While immediate pandemic pressures may moderate short-term corporate progress on climate risk assessment and disclosure, there is little to suggest that regulatory and investor expectations have significantly diminished in 2020. Corporates may face increasing investor pressure to make a 'Paris-aligned' business strategy a central pillar of their corporate rebuilding and recovery plans, with a measurable pathway to net zero emissions ...
The pandemic and government health protection measures have created a series of challenges and smart government responses to try to deal with the imposed social distance ...
Guatemala dawns today with the validity of a law, contained in the Decree 15-2020, extremely harmful for the country, the economy, the industry and legal certainty, and in violation of the Constitution. This law allows for the possibility of not paying certain basic services (water, cable, telephony, power [sic] (electric power) and internet) by the users, and imposes the obligation to public and private supplier companies not to suspend, under any circumstances, their provision ...
As we continue our series on bankruptcy litigation, we want to discuss the use of receiverships as an important aspect of a fully developed creditors' rights practice. Creditors often face recalcitrant corporate debtors who continue to reap the rewards of their business while ignoring all attempts by creditors to collect amounts owed to them. Sometimes, those debtors' intricate corporate structure makes it harder for creditors to trace money and assets and easier for debtors to hide them ...
On 18 May 2020, the UAE government announced the following timings with effect from today, 20 May 2020: the National Disinfection Programme will take place between 08:00pm (not 10:00pm) to 06:00am the following day. working hours of butchers, mills and cafes will be from 06:00am to 08:00pm. commercial centres and malls will be open from 09:00am to 07:00pm (with new opening hours to be announced after the upcoming Eid ...
COVID-19 Although the first big wave of requests for repayment deferrals of banking and non-banking loans may seem to be over, a further one is likely just to come once some debtors realise the actual effects of COVID-19 crisis on their economic situation and the pandemic time frame for filing the requests for repayment deferrals will start approaching its end ...
At QIL + 4, prevention is key and our clients’ and team’s health the most important thing. Under the new measures implemented by the Guatemalan Government, we have analyzed the legal alternatives available for signing commercial and civil agreements virtually ...
The Securities and Futures Commission (SFC) issued a circular on 27 March 2020 reminding the industry of the importance of compliance with the suitability obligation. Deacons’ client alert, which you can access here provides a succinct summary of the sources of the suitability obligation and the SFC’s FAQs on the subject. The alert also drew attention to the sampling and monitoring obligations under FAQ 10, which are frequently overlooked ...
In a recent enforcement action, the Securities and Futures Commission (SFC) issued a public reprimand and a HK$19.6 million fine to a licensed corporation (LC) for a range of breaches and internal control shortcomings, including failures relating to: 1. AML 2. Authorisation for transactions 3. Record keeping 4. Handling of client complaints 5. Telephone recording 6. Margin lending 7 ...
On May 18, 2020, Governor Gretchen Whitmer signed Executive Order 2020-91 (“Order”) into effect, which details the requirements on employers reopening for business in Michigan. The Order reaffirms and builds upon previous directives for employers permitted to reopen business ...
The Vietnam Competition and Consumer Authority has released several documents related to the merger notification regime that was effectively implemented on 15 May 2020, the effective date of Decree 35. As the National Competition Committee has not yet been appointed, the documents clarify that, in accordance with its responsibility under Article 7 ...
This seventh edition of Unprecedented, our weekly update on COVID-19-related litigation, sees a continuation of the trend we identified last week: shutdown challenges, workers' compensation claims, and wrongful death lawsuits have dominated the past week’s news cycle. We expect these latter two types of cases, which we consider more broadly as COVID-19 exposure cases, to pick up significantly as the country reopens over the next several weeks ...
Special Report "COVID-19 in Central America" on special measures taken in each country of our region prepared by the multidisciplinary team of Consortium Legal. The information contained in this publication is for information purposes only and does not constitute legal advice. The information is constantly updated and is subject to change ...
On May 11, 2020, the California Department of Public Health ("CDPH") issued an All Facilities Letter (AFL 20-52) requiring skilled nursing facilities ("SNF") to develop and implement a facility specific COVID-19 mitigation plan (the "Plan") with six different, complicated elements. The CDPH requirement is in addition to any local requirements for COVID-19 planning and may or may not track the requirements already in place in some local jurisdictions ...
The 50th Earth Day has passed this year under the shadow of a global pandemic, where the immediacy of human health has eclipsed, for now, the focus on the long-term health of the planet and humanity’s place within it that had begun to preoccupy businesses and investors. From a corporate governance perspective, that is reasonable, as risks to short-term survival take precedence over the long-term planning and risk mitigation demanded by more epochal trends like climate change ...
Is Coronavirus the Great Leveller? When the novel coronavirus first started spreading like wildfire, people called it the “great leveller”. No respecter of status or economic background, Covid-19 affected people at all strata, from housemaids to Hollywood royalty; peons to prime ministers. Tom Hanks, Boris Johnson and an aide to US Vice President Mike Pence all contracted it ...
The order described below is a follow-up to the order establishing the strategy for the reopening and return to social, educational, and economic activities, including additional industries to those considered essential, published on May 14, 2020 (the “Order”). (Our alert on the Order can be found here ...
The Abu Dhabi Global Market has announced amendments to its Companies Regulations. The Companies Regulations 2020 (2020 Regulations) repeal the Companies Regulations 2015 (as amended). We have summarised below the key changes under the 2020 Regulations.Companies Regulations 2020 Effect of amendmentSection 3One of the ways in which a restricted scope company can be incorporated is if the founding members are a group of people who are from the same family (as approved by the Registrar) ...
