March and April are the months during which companies generally hold their annual general meeting of shareholders (GMS) having on the agenda the approval of the financial statements, of the budget and of the business plan. The annual GMS is particularly important as it gives the opportunity for shareholders to meet and discuss directly with the management and the other shareholders on the past and future activity of the company ...
The main doubts of company directors about the consequences ofthe current Covid-19 pandemic in relation to insolvency, the PER, and the RERE. As a result of the spread of the Covid-19 virus, the World Health Organization declared a public health emergency of international concern (PHEIC) on 30 January 2020 and a pandemic on 11 March 2020 ...
1. Introduction On 18 March 2020, the Decree #CuraItalia1 introduced “measures to strengthen the national health ser- vice and economic assistance to families, employees and companies related to the epidemiological emer- gency of COVID-19” (the “Decree #CuraItalia”) ...
According to press reports, most Germans are willing to accept limitations on the extent of the protection of their personal data vis-à-vis public authorities and agencies in order to tackle the coronavirus crisis. However, that alone is not an adequate justification for measures that employers may take during a coronavirus pandemic to prevent an outbreak in their company ...
Tips on how to mitigate losses: Mall Leases: Mall leases have ceased to be in the nature of a tenancy agreement. The clauses are no longer limited to availability of the premises, rent, lock-in period, repairs, and exit. Mall owners have come to impose sale targets on the retailers operating from their malls. Rent consists of both a percentage of the revenue earned by the retailer as well as a fixed monthly payment ...
In stark contrast to earlier media reports as to what would constitute “essential services”, the Regulations published in terms of the impending coronavirus (COVID-19) lockdown are far from clear and explicit when it comes to ICT, including datacentres, fibre optic infrastructure, towers and antennae ...
On 19 March 2020, the Minister of Trade and Industry (the “Minister”) published two Regulations under section 78(1) of the Competition Act, 1998 (as amended) (the “Competition Act”), pursuant to the National State of Disaster declared on 15 March 2020 (the “National State of Disaster”).Both of the Regulations are effective immediately. The first creates a block exemption for the Healthcare Sector ...
At their core, the Regulations in terms of the Disaster Management Act, 2002 issued and brought into operation yesterday, 18 March 2020, outline the responsibilities of all government departments, the release and allocation of resources, and the conditions under which liquor industry may function. In the wake of the coronavirus (COVID-19) epidemic being declared a national state of disaster, the Regulations are intended to contain the spread of the virus ...
In consideration of the COVID-19 outbreak in Mauritius we want to take this opportunity to inform you of our business continuity and safeguarding procedures.ENSafrica’s top priority is to preserve the health and well-being of its people, its clients, all its business partners and their familiesas well as the ongoing success of business operations ...
Background As you no doubt know, the coronavirus (COVID-19) has been declared to be a pandemic by the World Health Organisation (“WHO”).In this time of global crisis, what is most key-critical to us, is that we continue to look after the wellness of our people while we service your business’s requirements and structure ourselves in a way that we are able deliver to you at the level you have come to expect of ENSafrica ...
The coronavirus (COVID-19) pandemic is changing the way we live, interact and conduct business. The Broad-based Black Economic Empowerment (“B-BBEE”) world in South Africa is no different. All companies undergoing a B-BBEE verification are required to permit their B-BBEE verification agencies to conduct on-site inspections and personal interviews as part of the verification process ...
Background Other than hand sanitizer manufacturers, private hospitals and the like which stand to profit from the coronavirus (COVID-19) disaster unfolding, the vast majority of South African companies fall into two groups: those that are hemorrhaging but will ultimately survive, and those who will not ...
On 15 March 2020, President Kenyatta gave a speech on how the Kenyan Government intends to manage the impact of the coronavirus (COVID-19) outbreak. We outline these measures below and also provide some pointers: Travel For 30 days following the announcement, or as varied by the National Emergency Response Committee, travel is suspended for all persons coming into Kenya from any country with reported COVID-19 cases ...
As part of Spilman's and our COVID-19 Task Force's continuing effort to partner with you during this public health emergency, we’ve been monitoring Congress’ work on the Families First Coronavirus Response Act ("Act"). This now has passed both houses and all indications are that it will be effective within weeks. Even in its short history, the bill has seen some significant changes. This is the final form ...
Discussing the legal concept ‘Force Majeure’ in credit agreements – if it can be called upon, it has in principle a temporary nature and does not relief you from payment obligations. In general, force majeure is an unforeseeable and unavoidable event that occurs after a credit agreement has been concluded (i.e ...
The Corona crisis is not only a huge challenge for health care, but also the consequences for the economy will be enormous. Different sectors (such as the hospitality sector and the transport sector) will not be able to overcome the difficult times we are currently facing without public support ...
The coronavirus crisis could make the ability of a business to perform pending contracts harder. Even though so-called ‘hardship’ clauses are perfectly valid and enforceable under Belgian law, hardship is not generally accepted as a principle of Belgian contract law. Until the rules on obligations of the new Civil Code, which recognise hardship, enter into force, there are exceptions and creative ways to deal with this problem ...
With the Corona crisis, countries such as Germany, France and the Czech Republic have already announced bans on exports of protective gear to avoid shortages at their countries. But is this in conformity with the principle of free movement of goods as provided for in articles 34-36 TFEU? This principle is one of the cornerstones of the European Union's internal market which implies that national barriers to the free movement of goods within the EU need to be removed ...
EUIPO On 16 March 2020, the Executive Director of the European Union Intellectual Property Office (EUIPO) has issued Decision No EX-20-3 extending all time limits expiring between 9 March 2020 and 30 April 2020, that affect all parties before the Office, to 1 May 2020. In principle, the new deadlines will not be communicated to the parties on a case-by-case basis ...
All shops, bars, restaurants and leisure centres will be closed at least until 6 April 2020. Only grocery stores, pet food stores, pharmacies, banks, post offices and book shops will remain open until that date insofar as the social distancing (at least 1 meter distance) can be guaranteed. Night shops can stay open until 10 pm insofar as social distancing is applied. Food stalls on markets are only allowed insofar as considered essential ...
At Patterson Belknap we continue to diligently monitor the outbreak of the COVID-19 coronavirus and assess the potential legal and business issues that may arise relating to the virus. The situation is fluid, and best practices and guidelines are evolving in real time. We are closely monitoring the situation as it unfolds, and share our latest perspectives on the legal issues relating to COVID-19 below ...
Over the last few days, Judge Lawrence K. Marks, the Chief Administrative Judge of the New York State Unified Court System, issued two memoranda bearing on COVID-19’s effect on the Commercial Division. First, by memorandum dated March 13, 2020, Judge Marks announced that he and Chief Judge Janet DiFiore have implemented a number of measures to prevent the spread of COVID-19 and protect the well-being of court personnel ...
As the United States and countries all over the world continue to grapple with the Covid-19 pandemic, the race is on for Covid-19 treatments and vaccines. There is currently no FDA-approved therapy or vaccine for Covid-19. Given the profound urgency, life sciences companies and other researchers are prioritizing research and development of potential therapies and vaccines ...
A. SHORT-TIME WORK 1. WHAT IS THE LEGAL POSITION? According to the "Act on the temporary crisis-related improvement of the regulations for short-time work compensation" ("Gesetz zur vorüberristeten krisenbedingten Verbesserung der Regelungen für das Kurzarbeitgeld") (see preliminary version of BT publication 19/17893), a company can order short-time work due to the worldwide cases of illness caused by the coronavirus and thus reduce working hours ...
