On March 31, 2020, the U.S. Department of the Treasury, which is supporting the U.S. Small Business Administration (SBA) in administering the Paycheck Protection Program (PPP), and SBA issued preliminary guidance on the program and made available the form of application ...
In times such as these, it is important to get the best available legal information and advice and remember that not all information and advice will be applicable to a particular situation or contract. Many businesses in the United Arab Emirates (the UAE) and the countries of the Gulf Cooperation Council (the GCC) are wondering what to do with respect to their obligations or those of their cocontracting parties ...
Note on how the national courts will reason upon the requests for additional evidences in appeal when the Suspension of civil procedures due to COVID-19 crisis will cease and the activity in courts will be resumed. Good news from the High Court of Romania! Even though most of the civil cases are suspendedex officiothroughout the state of emergency instated by the Decree no. 195/16.03 ...
Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” provides a framework whereby small businesses can obtain loans from the SBA that may be forgiven to the extent of certain business expenses, including rent. Generally, when a loan is forgiven, the debtor is taxed on the amount forgiven under Internal Revenue Code §108 (subject to statutory exceptions) ...
Analysis: United States ex rel. Druding v. Care Alternatives, Inc. (3rd Circuit) • Winter ex rel. United States v. Gardens Reg’l Hosp. & Med. Ctr., Inc. (9th Circuit) In recent decisions this month, the Third and Ninth Circuits reversed defense victories predicated on the “objective falsity” standard under the False Claims Act (FCA). See United States ex rel. Druding v. Care Alternatives, Inc., No. 18-3298, 2020 U.S. App. LEXIS 6795 (3d Cir. Mar ...
A quick legal reference for banks supporting small businesses Section 1 Section 2 Section 3 The Coronavirus Aid, Relief, Economic Security (CARES) Act signed into law by President Donald Trump on March 27, 2020, contains significant relief for small businesses affected by the national emergency declaration related to the COVID-19 pandemic and the aggressive actions taken by state governments across the nation to combat the spread of the virus ...
The current coronavirus crisis has created unprecedented challenges for those in the construction industry. While many states have exempted construction activities from their shelter-in-place or stay-at-home orders, projects have nonetheless been impacted and cash flow from owners or contractors may slow or halt. As a result, contractors, subcontractors, and suppliers must be vigilant to protect their ability to receive payment on projects where cash flow might become problematic ...
For all parties, the question arises at present as to what effects COVID-19 will have on existing contractual relationships – specifically, who will bear the economic burden of the pandemic. In the following is a brief overview: 1 ...
Tourism and event industries are suffering and it is expected that manufacturing enterprises will soon be affected as well. Short-time work can provide a remedy and reduce the economic consequences of the coronavirus for employers and employees ...
Scammers and cyber crooks did not take long to adapt their usual fraud to this uncertain period caused by the Covid-19, refinishing notably their sadly notorious “CEO Fraud” to the present circumstances ...
The outbreak of Coronavirus (COVID-19) which has been recently declared as a Pandemic by the World Health Organization, has affected our country and the entire world.In Guatemala, the Government has been taking an active role by implementing progressive measures to prevent the spread of the virus, measures that will have a significant impact on the country's economy ...
Current status: March, 30, 2020 Corona-related sales slumps in many industries are leading numerous companies to experience short-term liquidity bottlenecks. To cover these shortages quickly, the federal government adopted theKfW Special Program 2020, which is available for commercial enterprises and members of the independent professions with immediate effect. Loan terms were improved and standardized yet again to make it easier for companies to access favorable loans ...
Covid-19 makes it difficult for shareholders and members to attend annual general meetings in limited liability companies and other legal forms of association. Shareholders might belong to a risk group or having difficulties to travel to the place where the meeting is held. A limited liability company or association may not refrain from holding the annual general meeting or to postpone further than the last permitted date (six months after the end of the financial year) ...
Perhaps, one of the facts which creates the highest expectations among those of us who manage the second or third defense line is risk materialization. That is to say, for a risk to become an event and generate some kind of impact. And from there on, the possibility of verifying the effectiveness of the controls designed, the residual risk and feeding back the matrix ...
The CARES Act was signed into law on March 27, 2020 and provides emergency relief for the American economy by imposing certain restrictions on eviction, forbearance for certain loans, and foreclosure relief for owners of single-family and multi-family assets secured by federally-insured mortgages. The following is a summary of the relevant provisions. A ...
On March 27, 2020 California Governor, Gavin Newsom, issued Executive Order N-37-20 (“Order”), temporarily restricting the ability of landlords to evict residential tenants for nonpayment of rent if the failure to pay rent is due to the impacts of the COVID-19 Coronavirus (“COVID-19”) ...
As a growing number of the workforce is being affected by the COVID-19 pandemic, employers are raising several benefit related questions, particularly with respect to financial assistance available to employees. The Employee Benefits Group at Hanson Bridgett will be providing updated information on possible issues arising in the benefits area through Benefits Alerts and postings on Hanson Bridgett's Online COVID-19 Resource Center ...
The international public health emergency caused by the Coronavirus (COVID-19) was declared a pandemic by the World Health Organization and the Portuguese authorities recently announced of a state of emergency across the country. Against this background, the authorities have been approving various packages of exceptional and temporary measures to respond to the spread of the virus ...
In the new economic reality, businesses that took out loans may be asking themselves many questions. Will existing loans still be paid out? Will an expiring credit line be extended? And will the state of epidemic justify not repaying debt already incurred? COVID-19 and the related restrictions introduced overnight by country after country have shifted businesses into anew reality. Among the challenges is ensuring the continuity of bank financing and the capacity to repay existing debt ...
One of the more serious consequences of the pandemic will be awave of business litigation. However, strong arguments and credible evidence are not enough to win adispute. It also takes resources to pursue alawsuit, and soon that may be particularly difficult to come by. The whole economy under pressure is preparing for the consequences of the pandemic and drastic steps taken by states to combat it ...
