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 ...
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 ...
Through External Circular No. 001 of March 23, 2020, the Superintendence of Industry and Commerce (SIC) made clear that mobile phone operators and private entities in general have legal grounds to provide to the National Planning Department (DNP), as well as to public entities that so require it, personal data that is necessary to address, prevent, treat and/or control the spread of COVID-19 and mitigate its effects ...
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 ...
Decree 457 of 2020 issued a mandatory preventive isolation order for every resident of the Republic of Colombia, as a consequence of the economic, social and ecological emergency that has been declared in the national territory. In this regard, it is required to regulate the mandatory isolation ordered by Decree 092 of 2020 in Bogotá D.C ...
Last week, in response to the COVID-19 coronavirus pandemic, the Premerger Notification Office of the Federal Trade Commission (the “PNO”) announced temporary e-filing procedures for the submission of HSR filings and a temporary suspension of early termination requests. Key Takeaways: As of March 17, 2020, the PNO and the Department of Justice (“DOJ”) will accept only electronic submissions of HSR filings (no paper or DVD filings) ...
In the wake of the economic downturn caused by the coronavirus outbreak, Congress sought to pass a stimulus bill designed to mitigate the negative impact on the U.S. economy of measures taken to slow the spread of the virus.Hopes of a quick passage of the bill dimmed on March 21, when the Democrat and Republican negotiators in the Senate could not agree on worker protections or stock buyback restrictions for businesses that received funding, among other issues ...
The impact of Covid-19 is becoming more prevalent throughout the economic landscape of The Bahamas. Most recently, in an effort to contain the spread of the virus, preventative measures involving the closure of non-essential local businesses for a specified duration were introduced by the Government in exercise of its emergency powers. This has had far-reaching effects in the employment sphere ...
In recent weeks, Governments around the world have been grappling with how best to combat the spread of the Coronavirus (COVID-19). The Bahamas is no exception. To date the Prime Minister has issued two Emergency Orders aimed at ensuring the health and safety of persons within The Bahamas ...
An issue concerning businesses at present is the problem of settlements between them resulting from non-culpable inability to perform contracts. This is an area that may require the Parliament’s intervention if current regulations prove insufficient. Due to the closure of anumber of facilities (restaurants, cinemas, some retail outlets), businesses are incurring huge losses ...
The General Meeting during the State of Emergency? Can it take place? And can it be convened? Do crisis measures contain an exception for meetings of the statutory organs of the company (e.g ...
The awaited regulation by the Ministry of Economy, Energy and Business Environment on issuance of the Certificate for emergency situations (“CES”) has been adopted through Order 791/2020 relating to the granting of emergency certificates to the economic operators whose activity is affected in the context of SARS-CoV-2 pandemic published on 25 March ...
The M&A market has entered a volatile period, but there are several strategies that you as a seller or buyer can use to navigate your deal through to completion. These strategies may be particularly relevant for buyers who have secured financing or large cash reserves. We also expect that it will generally be a buyer’s market for some time to come. Read this article as a PDF here. Purchase price mechanism ...
In order to alleviate the effects of the coronavirus, the Swedish government has proposed a crisis package that includes proposals for strengthening companies’ liquidity through the tax account, a new system for short-term working and the state taking over responsibility for sick-leave payment for two months. It is of course our hope that these proposals will result in most companies managing the effects of the coronavirus ...
On 15 March 2020, the President of South Africa, in a national address, announced the declaration of the coronavirus (COVID-19) pandemic as a "national disaster". Since then, many significant consequential announcements have been made, relating to restrictions on movement, business activity, travel and other matters, all in the interests of preventing an escalation of the national disaster and alleviating, containing and minimising the effects of the national disaster ...
Now that South Africa is under lockdown for the next 21 days, as part of an organisation’s business continuity efforts, businesses will, to the extent possible, continue to run remotely. Two common legal issues that arise from remote working are: the electronic signing of agreements and instructions; and whether meetings can take place using technological means. In this article, we touch on both issues ...
On Monday, 23 March 2020, President Cyril Ramaphosa announced a 21-day national lockdown in response to the coronavirus (COVID-19) pandemic, in terms of the Disaster Management Act, 2002. The lockdown will result in all employees (except those performing “essential services”) being confined to their residences and, as a result, being unable to tender services in the “normal” course ...
