On Wednesday, April 8, 2020, Michigan Governor Gretchen Whitmer issued Executive Order 2020-41 (the “Order”), which relaxes the witness and notary requirements for documents that would otherwise require in-person witnessing and/or notarization, such as Michigan estate planning documents, executed during the Coronavirus/COVID-19 pandemic ...
On April 8, 2020, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2020-23, which allows eligible partnerships to file amended partnership returns for taxable years beginning in 2018 and 2019 in order to take advantage of the various tax incentives provided under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) ...
Upon the ongoing spread of coronavirus disease (“COVID-19”) pandemic, the Indonesian Government has declared the COVID-19 as a national emergency situation. Following the nation’s COVID-19 emergency, the Indonesian Government have issued sets of regulations and policies in various sectors in order to control and mitigate the adverse impacts of the COVID-19 pandemic ...
In the face of governmental orders shutting down businesses, redirecting business efforts and assets, and even seizing business property to redistribute to others, we see more and more questions about the limits of governmental authority and the remedies for affected people and businesses. Lawsuits already are being filed, and the courts undoubtedly will have to provide the answers. Click here for a more detailed discussion of COVID-19 and governmental takings ...
In the face of governmental orders shutting down businesses, redirecting business efforts and assets, and even seizing business property to redistribute to others, we see more and more questions about the limits of governmental authority and the remedies for affected people and businesses. Lawsuits already are being filed, and the courts undoubtedly will have to provide the answers. Click here for a more detailed discussion of COVID-19 and governmental takings ...
Does the Covid-19 pandemic (or actions taken to counter the spread of Covid-19) constitute a Force Majeure in a refit/ repair contract? Is there any implied right of relief for the contractor or the owner? Under English law, unlike civil law systems, a force majeure is neither defined nor automatically applicable to commercial contracts ...
Does the COVID-19 pandemic (or actions taken to counter the spread of COVID-19) constitute Force Majeure and is there any implied remedy (e.g. implied force majeure relief) arising as a result of the COVID-19 pandemic? Under English law, unlike civil law systems, force majeure is neither defined nor automatically applicable to commercial contracts ...
Aware of the political and economic challenges facing by the European Union, the European Commission has decided to act swiftly as part of its task of monitoring state aids under Articles 107et seq.of the Treaty on the Functioning of the European Union, which require Member States to notify, prior to their implementation, measures that are likely to distort competition within the EU ...
This newsletter explains the consequences of the texts adopted by the government on the withdrawal period granted to the non-professional buyer (i), the fulfilment of the conditions precedent provided for in the sale commitment (ii) and the notarial deed of sale (iii). (i) THE WITHDRAWAL PERIOD When the legal withdrawal period of 10 days which the non-professional purchaser has following the signature of a sale commitment (Article L ...
For over 240 years, Congress has allowed citizens of different states to litigate in federal court and, for equally as long, has permitted defendants to remove such cases from state court to federal court in cases exceeding the jurisdictional minimum. Judiciary Act of 1789, 1 Stat. 79 Section 12 ...
Mortgage servicers are currently being inundated with requests from borrowers impacted by COVID-19 for forbearance and other types of payment relief. Tracking, making sense of, and then complying with the guidance and requirements that are being issued and then modified – seemingly on a daily basis – by the federal government, the GSEs, and various states is proving to be a challenge for many, especially at a time when resources may already be limited or stretched thin ...
On 30 March 2020, the Ukrainian Parliament adopted the Law "On Amendments to Certain Legislative Acts Aimed to Ensure Additional Social and Economic Guarantees Due to the Coronavirus Disease (COVID-2019) Spread" (the Law), which introduces to the Ukrainian legislative environment new complex rules aimed at minimizing the negative impact of the spread of the COVID-19 in Ukraine. The below summary focuses on key changes introduced by the Law ...
As a result of the COVID-19, employers are being forced to reduce the size of their workforces in order to keep costs down for the duration of the pandemic and perhaps beyond. Employers can choose to either furlough employees or lay them off; however, deciding which route is best requires an analysis of the employer’s situation, as well as the needs of the employees ...
Minister of Public Works and Housing recently issued Instruction No. 02/IN/M/2020 on the Protocol for Preventing the Spread of COVID-19 in Construction Works (“MPW Instruction 02/2020”). This instruction is a follow up to President Joko Widodo's instructions related to COVID-19 prevention efforts and the emergency status in Indonesia due to the COVID-19 pandemic up until 29 May 2020 declared under Head of the National Disaster Management Agency Decree No ...
Many commercial contracts limit claims between parties, particularly for consequential losses, to instances of gross negligence. Many statutes circumscribe claims against government authorities to the same circumstances. The Police Act, for example, prohibits claims against the police except where the police have been “guilty of dishonesty, gross negligence or malicious or wilful misconduct” ...
The Coronavirus Aid, Relief, and Economic Security Act, H.R. 748 (the “CARES Act”), signed into law by President Trump on March 27, 2020, provides considerable relief for individuals and businesses in the form of financial assistance and tax-related benefits. Below is a short description of the tax benefits available for businesses, including employers and self-employed individuals under the CARES Act ...
In March, the Estonian Government decided to implement first steps to help the employers in order to avoid lay-offs and introduced also few other reliefs to support the companies. Below you can find summaries of these measures. Relief measures for employers Compensation of salary The Estonian Government approved the relief measures for the employees subject to salary cut ...
The Supreme Court while hearing Suo Motu Writ (Civil) No.5/2020 on 6thApril 2020 has, in exercise of the powers conferred by Article 142 of the Constitution, directed that: i ...
The pandemic of COVID-19 has severely affected functioning of various business activities across the globe and has posed a threat to legal services. The risks to legal services posed by the spread of COVID-19 were highlighted a few weeks back when international law firm Baker McKenzie closed its London office after a staff member was suspected to have been at risk of contracting the novel coronavirus ...
On April 6, 2020, Law No. 21,227 came into force, allowing access to unemployment insurance benefits under Law No. 19,728, in exceptional circumstances. This law, in its Article 14, Title III "Final Provisions", provides for a new criminal offense consisting of fraudulently obtaining supplements, benefits and / or profits due to the pandemic caused by Covid-19 ...
The Ministry of Finance published Decree 520 of April 6, 2020, modifying the dates for filing and paying income tax returns of large taxpayers and legal entities, as well as the annual statement of assets held abroad. Accordingly, Decree 520 of 2020 establishes that the income tax returns of large taxpayers will be filed simultaneously with the third installment instead of the second one, as was previously provided by Decree 435, published on March 19, 2020 ...
With the recent and rapid spread of COVID-19 in the U.S., government contractors have already started experiencing contract performance delays, which inevitably will have a significant financial impact ...
The COVID-19 pandemic has delayed and lowered revenues, creating an unprecedented period of fiscal uncertainty for borrowers of tax-exempt debt. Borrowers forced to navigate these conditions may request lenders defer scheduled debt payments to help weather the storm. Borrowers and lenders of tax-exempt debt must be mindful that a deferral of scheduled payments may endanger the debt’s tax-exempt status ...
