Peter de Boisblanc, HUB International, also contributed to this article. The economic downturn engendered by the COVID-19 pandemic likely will lead to a significant increase in acquisitions of distressed targets. Representation and warranty (“R&W”) insurance policies as well as related insurance products can facilitate these transactions ...
The economic downturn engendered by the COVID-19 pandemic likely will lead to a significant increase in acquisitions of distressed targets. Representation and warranty (“R&W”) insurance policies as well as related insurance products can facilitate these transactions ...
On 24 June 2020, the Securities and Futures Commission (SFC) published its latest Annual Report, covering the 12-month period to 31 March 2020. As in previous years, the report provides a useful summary of what the SFC has done over the past year particularly in terms of achieving its publicly stated goals and providing insight into its priorities moving forward ...
This 16th edition of Unprecedented, our weekly update on COVID-19-related litigation, discusses claims ranging from insurance coverage disputes to prisoners’ rights. The top story this week, however, is undoubtedly a Michigan ruling that dismissed business interruption claims on the merits—a major early victory for insurers. Even so, it seems doubtful that this one ruling will slow down the flood of coverage disputes ...
On July 17, San Francisco Mayor London Breed announced that due to a rapid rise in new COVID-19 cases in the last month, and because San Francisco was listed on the State’s County Monitoring List (the “Monitoring List”) for three consecutive days, San Francisco was halting all reopening procedures indefinitely beginning on Monday, July 20 ...
On April 22, 2020, the Governor issued Executive Order N-55-20 pursuant to a provision of the Government Code that grants special powers to the Governor to suspend statutes during a state of emergency where the Governor determines and declares that strict compliance with the statute or regulation would prevent, hinder, or delay the mitigation of the effects of the emergency. (Gov. Code, §§ 8567 & 8571 ...
In the Loop: With the Hanson Bridgett Government Group COVID-19 has changed the way California public agencies conduct their Brown Act meetings, creating new challenges and opportunities. Utilizing their experience serving as general counsel to a number of public agencies, Hanson Bridgett attorneys Claire Collins and Allison Schutte created their Top 10 list of recommendations on how to conduct virtual "Brown Act" Board Meetings to guide any public agency. 1 ...
As the COVID-19 pandemic continues to spread throughout the world, governments and leading financial institutions across the South and Southeast region continue to issue various initiatives, stimulus measures and relief efforts within their respective countries in an attempt to shore up the hardest hit sectors and vulnerable groups directly affected by the COVID-19 pandemic ...
Eligible dental providers may now apply for Provider Relief Funds, but the deadline to do so, July 24, 2020, is quickly approaching. On July 10, 2020, the U.S. Department of Health and Human Services (“HHS”) announced an additional $4 billion in relief payments to healthcare providers and, notably, opened its provider portal to dental providers ...
Yesterday, Virginia approved temporary emergency workplace safety standards related to COVID-19, making it the first state in the nation to do so. While final language has yet to be approved, the standards are expected to go into effect in late July and will remain in effect for six months unless extended pursuant to state law. A current draft of the regulations is available here ...
On July 15, 2020, the Federal Reserve published a number of changes to the Main Street Lending Program’s frequently asked questions, which FAQs were amended to provide further guidance on a number of issues. The Federal Reserve Bank of Boston MSLP web page has links to clean and redline versions of the new FAQs: https://www.bostonfed.org/supervision-and-regulation/supervision/special-facilities/main-street-lending-program/information-for-lenders/docs ...
“Shield 4.0” extends the deadlines for all obligated entities to file transfer pricing information (TPR), declarations on preparation of local transfer pricing documentation, and enclosures of group transfer pricing documentation. The earlier regulations extended the deadlines only for selected taxpayers ...
On 24 June 2020, a new restructuring procedure entered into force, enabling businesses to carry out debt relief smoothly without undue judicial interference. Potential risks and doubts may arise on the part of creditors on how to counteract the negative effects of opening these proceedings ...
On 19 June 2020, the Parliament adopted “Shield 4.0,” new law of great importance for M&A practice. Shield 4.0 amends the Act on Control of Certain Investments of 24 July 2015 and enters into force on 24 July 2020 ...
Peter de Boisblanc, HUB International, also contributed to this article. The COVID-19 pandemic has impacted the economy to a significant extent ...
On June 23, 2020, the Division of Corporation Finance of the Securities and Exchange Commission (“SEC”) issued CF Disclosure Guidance: Topic No ...
The National Institute of Industrial Property (INAPI) recently issued Notice No. 524, which provides that it will be possible to enter simple (scanned) digital copies of powers of attorney, without requiring the original document or an electronic document with an advanced electronic signature, thus making it possible to continue the processing of applications for registration, renewals, recordals, among others, during the quarantine period produced by Covid-19 ...
By means of Ordinary Resolution No. 675/2020 dated July 8th, 2020 (“Ordinary 675”), the Ministry of Energy established the criteria of the requests of Unique Collective Permits applicable to companies with power generation businesses in the context of the transit instructions issued by the sanitary authority due to the COVID-19 outbreak ...
Resolution No. 61/202 of Chilean Tax Authority amends instructions on Certificate No. 66 on donations and expenses associated with the global outbreak of Covid-19 July 6, 2020 On June 17, the Internal Revenue Service issued the Resolution No. 61 through which it modified the Resolution No. 49, which creates the certificate that recipients must issue for the donations they receive in the context of the health crisis produced by Covid-19. According to Resolution No ...
This 15th edition of Unprecedented, our weekly update on COVID-19-related litigation, showcases new and evolving trends. This week we note how COVID-19 has accelerated a pre-existing trend toward class action litigation. And we discuss specific trends involving workplace safety, mask requirements, shutdown orders, quarantine enforcement, and prisoners’ rights. These cases, and others like them, show no signs of cooling down as the summer heats up ...
The current crisis has challenged the strength of all companies. It has forced businesses to quickly address new issues that often were outside their agenda earlier. During this period, most of businesses have managed to temporarily adapt, or radically change their processes and strategies; establish a flawless remote operation; transform the pattern of cooperation with counterparties and partners; reallocate resources and learn to communicate with their employees under crisis ...
By adopting the Act on the Establishment of the Economic Stabilization Fund of March 27, 2020, the German Parliament and the Federal Council established the Economic Stabilization Fund(“ESF”) as a special fund to stabilize the real economy in times of the COVID-19 pandemic. The ESF is intended to support German companies in the real economy suffering from the consequences of the COVID-19 pandemic by providing liquidity and capital support ...
The State of Michigan has allocated $100 million of CARES Act funding to implement the Michigan Small Business Restart Program to provide grants to Michigan businesses directly impacted by COVID-19. The grants, up to $20,000 each, will be administered by 15 Economic Development Organizations (EDOs) covering all 83 counties in the state. Participating EDOs are listed below ...
On June 30, the National People’s Congress of the People’s Republic of China (the “NPC”) unanimously passed the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (the “Hong Kong National Security Law” or “Law”), which became effective at 23:00 Beijing time on the same day. The Law was first introduced on May 28, 2020 via a unanimous resolution of the NPC ...
