On 23 March 2020, South African President Ramaphosa announced a nationwide lockdown for 21 days with effect from midnight on Thursday, 26 March 2020 as part of government’s integrated measures to prevent and contain the spread of the coronavirus (COVID-19). The nationwide lockdown will have a cascading effect on the operations of many South African businesses, courts and the regulators (including the Broad-Based Black Economic Empowerment (“B-BBEE”) Commission) ...
The coronavirus (COVID-19) pandemic has, due to its high rate of transmissibility, unsettled many of us, forced us to distance ourselves socially, and to make adjustments to our way of life. We are living in a time where something as mundane as sneezing or coughing may earn you a death stare. While the fear of contracting COVID-19 is a real and devastating reality, one of the consequences of this fear is that it has the potential for social stigma ...
South Africa entered its first day of lockdown on 27 March 2020 in response to the rapid spread of the coronavirus (COVID‑19). This lockdown will last until 23h59 on Thursday, 16 April 2020. During this time, all movement of persons will be restricted ...
COVID-19, also known as the Coronavirus, is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that was declared a pandemic by the World Health Organization on 11 March 2020. The disease has since been reported in over 190 countries. For more information on COVID-19, or for support and advice should you experience symptoms, please consult the below local resources: Angola:http://www.governo.gov.ao/ Benin:https://www.gouv ...
As the country grapples with the coronavirus (COVID-19), various directives are being issued by different authorities. It is incumbent on the authorities that the measures are issued within the law. Enterprises that endeavour to observe these measures or wish to take their own measures also need to ensure that their actions are within the law. There are many legal issues to bear in mind. We set out key issues below. The Public Health Act (Cap ...
In the wake of the COVID-19 outbreak, the business community is faced with unprecedented threats to their cyber-infrastructure and data. Sensitive data, in particular, will be vulnerable to security breaches as a result of reduced human power under emergency legislation. Moreover, criminal hackers will be looking to capitalize on such vulnerabilities at a time like this ...
The devastating effect on the economy caused by the Coronavirus pandemic has adversely affected the business and financial condition of many companies ...
Both houses of the United States Congress have now passed the CARES Act and sent it to the President for his expected signature. Among the provisions in the 880-page Act are critical ones dealing with aid to small businesses, sole proprietors, and independent contractors ...
In order to prevent the spread of COVID-19, the Government of the Slovak Republic has adopted several restrictive measures which may, in contractual relationships governed by the Civil Code, cause impossibility of t debtor’s performance.[1]In this alert we focus in more detail on the issue of additional impossibility of performance and subsequent cessation of obligation due to the spread of COVID-19 and adoption of the related preventive measures ...
In the fight against the Covid-19 pandemic, the scale of measures to protect public health and their consequences are starting to be felt by businesses and, in particular, they are suffering from strains on cash flow. As a result, on Wednesday, 18 March, the Portuguese Government approved and presented a package of economic measures to support companies ...
This new framework will remain in force until 31December 2020 and it allows Member States to provide: a) Aid in the form of direct grants, selective tax advantages and repayable advance payments, up to EUR 800,000 per company, to companies in most economic sectors to meet their urgent liquidity needs; b) State guarantees for loans taken out by companies from banks and the framework defines, among other possibilities, minimum guarantee premiums for this purpose; TYPE OF BENEFICIARY MARG
On 11 March 2020, the World Health Organization declared the existence of a pandemic. The main focus is now to guarantee the safety of workers and employees. However, the potential repercussions for the activities of companies – in the short and medium term – are vast, complex and, in certain cases, they conflict with each other. PLMJ has created a multidisciplinary team dedicated to analysing the problems facing businesses ...
At a time when there is a huge reduction in their income, companies will have to cope with enormous pressures on their liquidity. In this context, bond issuances should continue to be a growing way for companies to obtain finance, in particular, in the case of assets eligible under the European Central Bank’s (ECB) purchasing programmes ...
There is expected to be a natural slowdown in the completion of real estate transactions in the coming weeks/months. The more immediate effects of the current situation, and of the administrative measures that continue to be adopted to control the pandemic, are especially reflected in relationships that have already been established ...
In this context, general measures have been established that may have an impact on planning procedures that are underway and on town planning management decisions already issued ...
The impact of the novel coronavirus (COVID-19) across the globe remains a significant concern in every aspect of business – and the representation and warranty (R&W) insurance market is no different. The following Frequently Asked Questions are designed to address some of the more common questions that have arisen since the outbreak of the pandemic.As always, advice in this area is fact-sensitive ...
Introduction Covid-19 is a force majeure event, meaning an extraordinary, unexpected and unforeseeable event, which is certainly not attributable to the voluntary conduct of an entrepreneur who is currently undergoing a restructuring or insolvency procedure and now faced with the Covid-19 crisis ...
The Government of Colombia, using its emergency powers, issued Decree 482 on March 26, 2020, to take steps to protect the transportation industry and to ensure its viability during the COVID-19 emergency ...
For the aviation industry, the Ministry of Transport has adopted the following measures: • To expedite the return of balances in favor of airlines that have been claimed before the tax authority. • To lay off, at the maximum level permitted by law, the air traffic controllers, firefighters, and aviation technical staff ...
The COVID-19 pandemic is having a wide-ranging impact on the U.S. real estate industry, particularly on the relationship between landlords and tenants. In order to better understand impending risks, both landlords and tenants should review their leases and insurance policies and consult real estate counsel before taking action. A sampling of leasing issues arising during the COVID-19 pandemic is set forth below ...
In Michigan, additional coronavirus relief resources are available through the Michigan Small Business Relief Program established by the Michigan Strategic Fund (MSF) and administered by the Michigan Economic Development Corporation (MEDC) as either loans or grants. Separately from relief offered by the U.S ...
On March 25, 2020, the U.S. Senate voted to approve the Coronavirus Aid, Relief, and Economic Securities (CARES) Act, an economic stimulus package addressing the impact of the COVID-19 pandemic (the “Act”). The U.S. House of Representatives is expected to approve the Act in its current form, with the President signing it into law shortly thereafter ...
On March 25, 2020, the SEC issued an order granting temporary relief from the filing deadlines for certain SEC filings due between March 1, 2020, and July 1, 2020. This order supersedes the SEC’s March 4 order ...
We foresee that, as a result of the current situation of the Covid-19 outbreak in Chile, there may be a significant increase in breaches to the obligations set forth in commercial contracts, under the argument of force majeure ...
