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Practical Strategies to Limit Premises Liability Claims Involving COVID-19
Haynes and Boone, LLP, September 2020

Businesses that open their doors to customers, guests, and other visitors during the pandemic must be vigilant, not only to keep their premises safe to those who enter, but also to avoid lawsuits by individuals who claim they contracted COVID-19 on business premises...

China Releases Circular on Further Stabilizing Foreign Trade and Foreign Investment
Haynes and Boone, LLP, August 2020

On August 12, 2020, the State Council of the People’s Republic of China (“State Council”) released theCircular on Further Stabilizing Foreign Trade and Foreign Investment(the “Circular”), in which the Chinese government announced 15 policies aiming to protect foreign trade entities and to keep supply chains stable against the economic fallout of the unabated COVID-19 pandemic. A few key points of the Circular include: 1...

FCPA Compliance in the Age of COVID-19
Haynes and Boone, LLP, August 2020

Even before COVID-19, the Foreign Corrupt Practices Act (FCPA) was becoming increasingly tricky to navigate and was actively enforced. But in light of the pandemic, which is forcing rapid changes to the global marketplace and causing unique supply chain challenges, the risk of a costly misstep has only increased...

China Releases Draft Measures for the Administration of Imported and Exported Food Safety
Haynes and Boone, LLP, August 2020

On June 11, 2020, the General Administration of Customs (“GAC”) released the Measures for the Administration of Imported and Exported Food Safety [draft] (General Administration of Customs of People's Republic of China, 2020) (“Draft Law”) to solicit public comments until July 11, 2020...

The Federal Reserve Releases Additional Guidance on the Loan Facilities Available to For Profit Businesses
Haynes and Boone, LLP, August 2020

Since the launch of the Main Street Lending Program, the Federal Reserve (through the Federal Reserve Bank of Boston, which is implementing the program) issued updates on July 15, 2020 and July 31, 2020 to the Frequently Asked Questions document (“FAQ”), originally published on April 30, 2020, for the three loan facilities available to for profit businesses...

First Class: Litigation and Arbitration in London
Haynes and Boone, LLP, August 2020

Recent statistics from London’s Commercial Court and major arbitration institutions confirm London’s reputation as an international hub for dispute resolution, with English law remaining the most popular choice for the resolution of international disputes...

Federal Reserve Expands Main Street Lending Program to Include Nonprofit Organizations as Borrowers
Haynes and Boone, LLP, July 2020

The Federal Reserve ’s Main Street Lending Program has recently been expanded to add two potential loan options, which will enable nonprofit organizations such as educational institutions, social service organizations and hospitals to receive financial support in addition to the previously announced programs benefiting for-profit entities...

With the Benefit Comes the Burden: Does the Duty of Care owed by a Shipowner extend to the Vessel's Demolition even after Sale?
Haynes and Boone, LLP, July 2020

The High Court has left the door open for a negligence claim to be pursued against a UK company on behalf of a shipyard worker who fell to his death dismantling an oil tanker at a Bangladeshi yard.1 The vessel had been sold to a buyer on terms requiring it to be scrapped in an environmentally sound manner and in accordance with good health and safety practices...

U.S. Listed Chinese Companies: Regulatory Scrutiny and Strategic Options
Haynes and Boone, LLP, July 2020

China has become the largest emerging market economy and the second largest economy in the world. As a result, many Chinese companies have elected to access the U.S. capital markets for their financing needs. As of June 2020, there are over 200 China-based issuers listed on U.S. exchanges with a collective market capitalization of over $1.15 trillion. With the rising geopolitical tensions between China and the U.S...

COVID-19 Related Healthcare Fraud and Anti-Kickback Enforcement Focuses on Laboratory Testing
Haynes and Boone, LLP, July 2020

While the U.S...

Wrongful Termination in Good Faith - Reconciling the Authorities in the Context of Force Majeure
Haynes and Boone, LLP, July 2020

In the rush to seek relief under force majeure clauses following the devastating impact of the Covid-19 pandemic, it is likely that some claims were made incorrectly, albeit in good faith.  Particularly in circumstances where force majeure relief is linked to a purported termination, the party seeking to terminate needs to comply with any contractual requirements and ensure that the event relied upon is capable of being caught by the force majeure clause...

A Look at Insuring Distressed M&A Deals: The Current Landscape of R&W Insurance (Part 2)
Haynes and Boone, LLP, July 2020

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...

A Look at Insuring Distressed M&A Deals: The Current Landscape of R&W Insurance (Part 2)
Haynes and Boone, LLP, July 2020

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...

Shifting Pricing and Coverage: The Current Landscape of R&W Insurance (Part 1)
Haynes and Boone, LLP, July 2020

Peter de Boisblanc, HUB International, also contributed to this article. The COVID-19 pandemic has impacted the economy to a significant extent...

SEC Issues Additional Guidance on COVID-19 Disclosure Considerations
Haynes and Boone, LLP, July 2020

On June 23, 2020, the Division of Corporation Finance of the Securities and Exchange Commission (“SEC”) issued CF Disclosure Guidance: Topic No...

ARRC Releases Updated LIBOR Fallback Language for USD Syndicated Loans
Haynes and Boone, LLP, July 2020

Quick Overview The ARRC released an updated version of its recommended LIBOR fallback language for USD LIBOR syndicated loans on June 30, 2020. Among other updates, the updated fallback language recommends a “Hardwired Approach” to effect LIBOR replacement and removes the previous alternative recommendation for an “Amendment Approach...

China Passes Controversial Hong Kong National Security Law
Haynes and Boone, LLP, July 2020

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...

Airborne COVID-19: Is “Physical Loss” a Factual Question for the Experts?
Haynes and Boone, LLP, July 2020

Thousands of denied claims and hundreds of lawsuits pending around the country are testament to the fact that business interruption coverage for losses sustained during the COVID-19 pandemic depends on the existence of “physical loss or damage...

Startup Financing Strategy During COVID-19
Haynes and Boone, LLP, July 2020

In the VC community, especially for early stage investments, the valuation of a startup is strongly influenced by subjective factors, mainly how the investors view the business, market and management team of the startup. While there are no objective benchmarks for valuing early startups, the valuations of these companies are especially vulnerable to an uncertain economy. Valuation is a very important issue for startups...

Opportunities for U. S. Venture Capital Funds and Start-Up Companies Operating Under New FIRRMA Regulations During COVID-19
Haynes and Boone, LLP, July 2020

The COVID-19 pandemic has lasted for over four months, and there is no sign that the number of new cases will decrease soon, though many states, companies and service providers are proceeding with the re-opening of business. The unexpected downturn in the economy caused by the pandemic has adversely affected VC financing opportunities for startups...

New NASAA Guidance on FPRs Amidst the COVID-19 Pandemic
Haynes and Boone, LLP, June 2020

On June 10, 2020, the NASAA Franchise and Business Opportunity Project Group (“NASAA Franchise Project Group”) issued a statement on the importance of accurately disclosing financial performance representations amidst the worldwide impact of COVID-19...

China Alert: China's Relaxed Financial Sector May Aid Foreign Investors
Haynes and Boone, LLP, June 2020

While the world contends with the COVID-19 crisis and its economic and financial impact, China is quietly opening its doors to its financial sector, inviting more foreign financial institutions, banks, insurance providers and other financial service companies to set up shop in China. On March 27, the Chinese government granted approval for both The Goldman Sachs Group Inc...

OSHA Reminds Employers to Continue Assessing Employee Safety Regarding COVID-19 Hazards, While Also Not Neglecting Common Workplace Hazards
Haynes and Boone, LLP, June 2020

As employers continue to implement and maintain the current health and safety guidance to prevent the spread of COVID-19 in the workplace, they should also be mindful not to forget their other safety obligations. On June 15, 2020, the U.S. Department of Labor’s Occupational Safety and Health Administration (“OSHA”) issued a News Release specifically reminding employers that workers need to be protected from both coronavirus and common workplace hazards...

Down Round Financing
Haynes and Boone, LLP, June 2020

Although the data for San Francisco Bay Area remains encouraging for the first quarter of 2020*, given the economic instability brought by COVID-19, we might see more down rounds going forward. Down rounds are financings where the company is valued less than in a previous round. In practical terms this means that the new investors are buying shares of the company at a lesser price than the previous investors...

President Signs Paycheck Protection Program Flexibility Act
Haynes and Boone, LLP, June 2020

On June 5, 2020, President Trump signed H.R.7010, the Paycheck Protection Program Flexibility Act of 2020 (the “PPPFA”). The PPPFA modifies the Paycheck Protection Program (“PPP”) to provide additional flexibility to borrowers in using PPP loan proceeds and obtaining forgiveness for their loans by the Small Business Administration (the “SBA”)...

 

 

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