This eighth edition of Unprecedented, our weekly update on COVID-19-related litigation, follows what we hope was a restful and meaningful Memorial Day weekend. For the third week in a row, shutdown challenges, workers' compensation claims, and wrongful death lawsuits have dominated the news cycle. But, we are also seeing a continuation in refund claims and an uptick in fraud claims involving everything from alleged misuse of sick days to corporate press releases ...
The SBA, in consultation with the U.S. Department of Treasury, issued the Paycheck Protection Program Loan ForgivenessApplicationand related instructions on May 15, 2020. While the application and instructions answer many of our questions about PPP loan forgiveness, it leaves many others open. Treasury has promised that the SBA also will soon issue regulations and guidance that we hope will address these questions ...
In Da Shing Group Ltd v Rich Promise Limited [2020] HKCFI 588[1], the Hong Kong Court of First Instance provided guiding principles in the interpretation of a memorandum of understanding (MOU) and considered whether pre-contractual exchanges could be admitted as evidence. The MOU in Chinese related to the acquisition of about 50.46% of the shareholding (Shares) in a listed company, Crocodile Garments Limited (Crocodile) ...
Rule 2-2020, as amended by Rule 3-2020 of the Superintendency of Banks of Panama (hereinafter, “SBP,” for its initials in Spanish). On March 16, 2020, the SBP issued Rule 2-2020, which was subsequently amended by Rule 3-2020 (here in after referred to as “Rule 2-2020") and "establishes additional, exceptional and temporary measures for compliance with the provisions contained in Rule 4-2013 on credit risk".” ...
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 ...
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 ...
After the start of Phase 2 (which began on 4 May 2020) the Italian government adopted on 16 May Law Decree no. 33 concerning, inter alia, "Further urgent measures to deal with the COVID-19 outbreak" (the "DL 16 May 2020"). Moreover, on 17 May 2020, in implementation of the aforementioned DL 16 May 2020, the Prime Minister issued a new decree with specific implementing provisions (the "PMD 17 May 2020") ...
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 ...
Effective Tuesday, May 19, 2020, the Department of Labor issued a new rule to provide greater simplicity and flexibility to retail and service-industry employers. The rule relaxes the regulatory framework underpinning Section 7(i) of the Fair Labor Standards Act, also known as the “retail service exemption ...
The National Privacy Commission (NPC) has issued guidelines on data protection in work from home (WFH) arrangements (NPC PHE Bulletin No. 12 on “Protecting Personal Data in a Work from Home Arrangement; issued May 15, 2020). The full text of the guidelines can be found here: https://www.privacy.gov.ph/2020/05/npc-phe-bulletin-no-12-protecting-personal-data-in-a-work-from-home-arrangement/ ...
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 ...
State Attorneys General across the nation are warning consumers about price gouging during the COVID-19 pandemic and offering easy online tools to report violations. Consumers have gotten the message. Texans, for example, have sent over 10,000 complaints of price gouging to the state AG’s office during the pandemic.1 Price gouging laws have been enacted by nearly 75 percent of states ...
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 ...
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 ...
As a result of the COVID-19 pandemic, many people have been forced to work from home and this has created new opportunities and very fertile ground for the emergence of cyber threats. Accordingly, on 29 April 2020, the Intermediaries Supervision Department of the Hong Kong Securities and Futures Commission (SFC) issued a circular (Circular) containing examples of controls and procedures firms can put in place to manage their cybersecurity risks ...
Preface Artificial intelligence[1](AI) is widely recognised as one of the defining industrial phenomena of the 21stcentury. In today’s technology-dependent world, its potential impact on business and economic development can hardly be understated ...
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 ...
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 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 ...
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 ...
