Under the CARES Act (H.R. 748), mid-sized businesses affected by the COVID-19 pandemic may be eligible for low-interest rate loans. These loans, however, come with a hidden price tag: a requirement that the business makes a "good-faith certification" that it "will remain neutral in any union organizing effort for the term of the loan.” What it means for a business to remain "neutral" is up in the air. The CARES Act does not define the term ...
An update to this article is available ? The Trump Administration and representatives of Congress reached an agreement on a proposed COVID-19 economic stimulus bill, the Coronavirus Aid, Relief, and Economic Security Act, or the CARES ACT (the “Act”). The Senate passed the Act late Wednesday, and the House of Representatives will vote on Friday. It is expected to be approved then signed into law on Friday, March 27, 2020 ...
UPDATED - We have updated several items as clarifications have been made. We will continue to update as more frequently asked questions are posed. When Congress passed the Families First Coronavirus Response Act ("CRA"), it left much for the U.S. Department of Labor ("DOL") to explain. The DOL has published a temporary rule offering its interpretations of the CRA, and the Internal Revenue Service (“IRS”) has established a procedure for claiming the tax credits ...
In the turmoil of adjusting and living day-to-day in this time of the COVID-19 virus, the public has become more attuned to the reality of the term “Supply Chain.” We are gaining a better appreciation that before products reach the consumer, an extensive network of shippers and transportation entities of all types and modes of commerce, as well as freight brokers and any other functions essential to the delivery cycle, are at play 24/7 ...
The current uncertainty in the world economy and the losses in the national stock market, generates concern about possible damage to the economy, derived from the pandemic caused by the virus COVID-19 ...
On March 24, Juan Carlos Jiménez Rojas, General Director of the Mexican Banking Association (Asociación de Bancos de México) (“ABM“), sent a letter to the President of the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“View More
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 ...
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 ...
As a response to the financial tensions triggered by the dissemination of Covid-19, the ChileanCentral Bank (BCCh) has announced a series of measures aimed at granting liquidity to theeconomy, support the flow of credit and the conveyance of the monetary policy. A core component of these measures is that of a Credit Facility Conditioned to the Increase inPlacements (FCIC) ...
Superintendence of Environment orders the suspension of terms and enforces virtual channels in the context of Covid-19 The Superintendence of Environment has suspended all of sanctioning proceedings and implemented virtual channels to receive consultations, complaints and replace its reception office ...
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 ...
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 ...
On 16 March 2020 the Polish Bank Association (ZBP) published astatement on helpful actions to be undertaken by Polish banks in connection with the COVID-19 pandemic. The statement clearly shows that banks recognise the need to take urgent action in response to anticipated difficulties borrowers will have in performing their obligations ...
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 ...
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 ...
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) ...
Due to the expanding impact of the Coronavirus (COVID-19), physical distancing and remote work policies have increased adoption by companies of electronic signature platforms such as DocuSign, Adobe Sign, SignNow, and others (hereinafter, the “platforms”) in handling internal approvals and also executing commercial documents ...
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 ...
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 ...
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 ...
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 ...
The Minister of Health has invoked powers under the Public Health Act, (Cap. 281) to issue rules and orders aimed at combating the coronavirus (COVID-19) in Uganda as below: The Public Health (Notification of COVID-19) Order, 2020 Under this Order, Covid-19 is declared a notifiable disease to which the provisions on prevention and suppression of infectious diseases under the Public Health Act (Cap. 281) apply ...
On 23 March 2020, President Ramaphosa announced a nationwide lockdown commencing at midnight on 26 March 2020. In terms of the lockdown, everyone is to be confined to their homes for 21 days, save for certain workers involved in providing essential services ...
