Like most industries, tech startups have been deeply impacted by the COVID-19 pandemic. As they scramble to adapt to a rapidly changing climate, tech leaders are asking if, and to what extent, their businesses can benefit from the $2 trillion stimulus package known as the CARES Act ...
Among its other consequences, the ongoing global outbreak of Novel Coronavirus 2019 (COVID-19) has resulted in an economic crisis. In this legal update we present insolvency law issues which may arise during the crisis and we also propose practical solutions for dealing with challenges that companies may face. 1 ...
On the 17thof March, we gave an overview on the options available for the governments in Estonia, Latvia and Lithuania to support companies being harmed by the COVID-19 crisis. At that time we noted that companies should work with the government in order to ensure that the measures taken truly help the companies survive the crisis ...
Insight on Eligibility and Requirements for Obtaining Financial Assistance For Mid-Sized Companies and Eligible Businesses (other than Air Carriers and Businesses Critical to MaintainingNational Security) The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) provides for various loans, loan guaranties and other forms of financial assistance to U.S. businesses both small and large and in specific industries and sectors ...
On April 2, 2020, the U.S. Small Business Administration (SBA) issued an interim final rule, providing additional guidance on the Paycheck Protection Program (PPP). Click here to read the full text of the Interim Final Rule. Here are some of the highlights of new and/or clarified information from the previous guidance issued by Treasury and SBA and the text of the CARES Act: Eligibility Only U.S ...
On April 2, 2020, the U.S. Department of the Treasury issued afinal borrower applicationand provided lenders with therequired datathe federal government will collect electronically to guarantee the loans. The lender application form requires the lender to certify they have gathered the requisite information from the applicant, as outlined in the updated borrower application form ...
On April 3rd, 2020, a new Law that amends Law No. 19,983, which regulates the transfer and grants direct enforceability to the copy of invoices, on certain aspects that were recently amended by Law No. 21,131 on 30-days payment, was enacted . The most relevant modifications introduced by this Law aim to benefit small sized businesses (micro, small and medium sized businesses as per defined in Law No ...
The UAE continues to implement new measures on a daily basis to curb the spread of COVID-19. Those measures are being adopted, announced and implemented at a very rapid pace. For ease of reference, we present here a summary of the key measures that have been implemented by various UAE authorities between 18 March 2020 and the time of this inBrief, 9:00 a.m. on Friday, 3 April 2020 ...
LATEST UPDATE - April 3, 2020 In response to the Coronavirus pandemic, the President signed H.R. 748, known as the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act on March 27, 2020. The bill provides more than $2 trillion of aid to individuals and the public and private sector ...
On 1 April the Prime Minister adopted a new decree (the “1 April Decree”) to extend the lockdown measures previously introduced through the decrees issues on 8 March, 9 March, 11 March and 22 March 2020 ...
On Friday, March 27, 2020, the CARES ACT was signed into law. The Cares Act includes provisions for changing deadlines for patents, trademarks, and copyrights. For patents and trademarks, the Act permits the Under Secretary of Commerce for Intellectual Property and the Director of the United States Patent and Trademark Office to change the deadlines imposed by Title 35 of the United States Code, the Trademark Act, Section 18 of the Leahy-Smith America Invents Act ...
Although some industries have halted all non-essential work as a result of the COVID-19 pandemic, many patent and trademark offices around the world have remained open and operational, largely due to electronic filing capabilities ...
In a recent article, we discussed government efforts to combat fraud in connection with the COVID-19 pandemic. We have seen a number of government enforcement actions, including the marketing of coronavirus treatments;selling toothpaste, dietary supplements, creams and other products as treatments to prevent and cure the coronavirus; andprice-gouging on health and safety products. On March 31, 2020, the U.S ...
In keeping with the promise of government to introduce fiscal measures to address the negative impact of the Coronavirus (COVID-19) pandemic on business, the South African Revenue Service (“SARS”) released Binding General Ruling (VAT) 52 (“BGR 52”), dated 27 March 2020, that extends the prescribed time periods relating to the exportation of movable goods from South Africa ...
Since the declaration of the national state of disaster in South Africa in response to the coronavirus (COVID-19) outbreak, it has been anything but “business as usual” for most professionals. This is equally true for legal practitioners trying to navigate the directives regarding litigation and court process during the national state of disaster ...
Following our previous ENSight on the assistance scheme announced by the Mauritian Prime Minister, the government has decided to extend its scheme to the informal sector and take general measures aiming to facilitate the life of everyone during this crisis. Self-employed individuals Government has offered, to self-employed individuals, financial support amounting to half of the guaranteed income for the period between 16 March 2020 to 15 April 2020 ...
On 31 March 2020, the Department of Environment, Forestry and Fisheries (“DEFF”) published directions (the “Directions”) under the National Disaster Management Act, 2002, to reduce the impact of the coronavirus (COVID-19). The purpose of the Directions is to ensure fair processes with respect to certain environmental laws, as a result of the restrictions placed on the movement of people during the lockdown period ...
On 27 March 2020, the South African Revenue (“SARS”) announced much needed value-added tax (“VAT”) relief on the importation of “essential goods” as part of the coronavirus (COVID-19) tax relief measures. Section 7(1)(b) of the Value-Added Tax Act, 1991 (“VAT Act”) imposes VAT on the importation of any goods into South Africa by any person. In terms of section 7(1), VAT is imposed at the standard rate of 15% ...
The Director of the U.S. Patent and Trademark Office on March 31, 2020 signed a notice waiving certain deadlines for patent-related filings, if the missed deadline resulted from situations relating to COVID-19 ...
According to the Pennsylvania Department of Community and Economic Development ("DCED"), Pennsylvania businesses have until 5 p.m. on Friday, April 3, 2020 to seek an exemption to Governor Wolf's order requiring "non-life sustaining businesses" to close physical locations. Businesses that do not file their exemption by the deadline may lose the opportunity entirely. The application can be found on the DCED’s website ...
In an expedited process, a Federal Law amending several legislative acts was passed by the State Duma and Federal Council of the Russian Federation. In particular, the law envisages use of the power of the Government of the Russian Federation to impose, in extraordinary cases, a moratorium on insolvency proceedings and provides a legal regime of such moratorium ...
With respect to the situation caused by the pandemic and its possible data protection impacts, please find below a summary of the statement of the European Data Protection Board (EDPB) on the processing of personal data in the context of the COVID-19 outbreak, issued on 19 March 2020. The EDPB starts by emphasizing that “[d]ata protection rules (such as the GDPR) do not hinder measures taken in the fight against the coronavirus pandemic ...
