The stock market has had record declines and many businesses are shuttered, at least temporarily. Long-term prospects may still be positive but in the near-term the value of many entities has reduced. Are there transactions that privately-held businesses and their owners could implement that would allow them to achieve long-term goals that could benefit the business, the owner, and owner’s family? We believe that there are ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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) ...
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 U.S. Chamber of Commerce Foundation is sponsoring the Save Small Business Fund—a grantmaking initiative offering short-term relief for small employers who are struggling during the COVID-19 outbreak. The fund will provide $5,000 grants to small employers in the United States and its territories that must be applied toward business expenses ...
On 30 January 2020, the World Health Organization declared the existence of a public health emergency of international importance (PHEIC) and classified the virus SARS-CoV2 as a pandemic on 11 March 2020. Around the world, governments and organisations are seeking to introduce contingency rules to deal with the epidemic and the disease (COVID-19) caused by it.This situation has had an enormous effect on football, with the suspension of virtually all football competitions across the globe ...
In recognition of the ability to detect the Coronavirus (COVID-19) in sewage and the critical role of basic hygiene in combatting COVID-19, the Minister of the Department of Human Settlements, Water and Sanitation has published directions in terms of the Disaster Management Act, 2002. The Directions implement the emergency procurement of water supply and sanitation services to identified areas to combat the spread of COVID-19 ...
In order to provide guidance to litigators in navigating the national state of disaster, the Chief Justice has issued two sets of directives that apply to all courts across the country. The first was issued on 17March2020, and contained provisions restricting the number of people allowed in courts and implemented decontamination and social distancing protocols. The second was issued on 17 April 2020, and is to be read in conjunction with the initial directive ...
Key Points: In most circumstances, the bankruptcy court should be a court of last, not first, resort. In certain circumstances, outlined in this article, the commencement of a bankruptcy case makes good sense. In most circumstances, because of the costs and uncertainties associated with the commencement and prosecution of a bankruptcy case, the bankruptcy court should be a court of last, not first, resort ...
Below is a summary of key new measures that have been implemented by various UAE authorities since 15 April 2020 and the time of this inBrief, 12:00 noon on Saturday, 18 April 2020. Dubai’s National Disinfection Programme extended On 17 April 2020, Dubai’s Supreme Committee of Crisis and Disaster Management extended the 24-hour National Disinfection Programme for another week. The programme, which began on 5 April 2020, was initially scheduled to end on 18 April 2020 ...
On 14 April 2020 the Romanian Ministry of Justice published a new draft emergency government ordinance on certain measures regarding the holding of general meetings of shareholders and meetings of the management bodies (the “EGO”). Such EGO is intended to ease the holding of such meetings in the context of the restrictions applicable during the state of emergency ...
