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A Guide to Contract Work During the Crisis
ALRUD Law Firm, May 2020

In times of the ongoing crisis, associated with the spread of the novel coronavirus infection (COVID-19), and the introduction of epidemiological requirements and restrictions, many businesses have faced difficulties with contractual performance, including the failure in supply, cancellation of scheduled events and often cutbacks in profits and the impossibility to perform monetary obligations...

Treasury and IRS Finalize Section 385 Regulations
Dykema, May 2020

On May 13, 2020, the Department of the Treasury and the Internal Revenue Service (“IRS”) issued final regulations under Section 385 of the Internal Revenue Code (“Code”), T.D. 9897 (“Final Regulations”), which address the classification of certain related party debt as stock or equity for U.S. Federal income tax purposes...

Pharmaceutical Industry: It is Time to Check the Structure of Doing Business in Russia
ALRUD Law Firm, May 2020

In the context of COVID-19 pandemic, the field (on-site) tax audits in Russia are currently postponed, but once all restrictions are lifted, the tax authorities can start auditing Russian companies and replenishing the National Budget by redoubling their efforts. The pharmaceutical industry could be in the focus of the tax authorities and, above all, they could start with auditing of the contractual structures used for organizing clinical trials and promotion of pharmaceutical products...

Return To Work Guide: An Employer’s Post-Pandemic Handbook
Dykema, May 2020

As many states and municipalities begin lifting stay at home orders and implementing steps for a phased reopening of businesses, employers should be developing a written “game plan” to minimize the risks of transitioning from a COVID-19 complete or partial shutdown to resumption of business as usual, or business in the post-Pandemic workplace...

Enforcement of Foreign Awards -
Kochhar & Co. Advocates & Legal Consultants, May 2020

HAS SUPREME COURT TAKEN A STEP BACK IN ITS RECENT JUDGMENT IN “NAFED VS. ALIMENTA S.A.”? The Supreme Court on April 22, 2020 declared a foreign award unenforceable on the ground that one of the provisions of the Agreement in question was hit by Section 32 of the Indian Contract Act, 1872 and thus violative of public policy of India. Brief Background: NAFED and Alimenta S.A...

PPP Loan Forgiveness Application: Key Observations
Dykema, May 2020

The SBA, in consultation with the U.S. Department of Treasury, issued the Paycheck Protection Program Loan ForgivenessApplicationand related instructions on May 15, 2020. While the application and instructions answer many of our questions about PPP loan forgiveness, it leaves many others open. Treasury has promised that the SBA also will soon issue regulations and guidance that we hope will address these questions...

COVID-19: Additional, Exceptional and Temporary Measures Adopted by the Superintendency of Banks of Panama and the Panama Banking Association.
Morgan & Morgan, May 2020

Rule 2-2020, as amended by Rule 3-2020 of the Superintendency of Banks of Panama (hereinafter, “SBP,” for its initials in Spanish). On March 16, 2020, the SBP issued Rule 2-2020, which was subsequently amended by Rule 3-2020 (here in after referred to as “Rule 2-2020") and "establishes additional, exceptional and temporary measures for compliance with the provisions contained in Rule 4-2013 on credit risk".”...

Corporate Governance in the Time of COVID-19: Navigating New Horizons
SyCip Salazar Hernandez & Gatmaitan, May 2020

The COVID-19 pandemic has forced companies to change the way that they do business. The fact that the National Capital Region is currently under a Modified Enhanced Community Quarantine (MECQ),[1] and prior to that, was under Enhanced Community Quarantine (ECQ) for two months since 16 March 2020, makes it difficult for Philippine domestic corporations to navigate the Philippine business landscape and conduct business as usual...

“Opening Up”: Don’t Forget About Resident Rights as you Reopen
Spilman Thomas & Battle, PLLC, May 2020

The curve has flattened, and all fifty states are at least partially reopened. This raises a number of questions about how your facility should proceed with reopening while continuing to protect not only your residents' health, but also their rights. Both failing to meet recommended guidelines and exceeding the guidelines can leave your facility vulnerable for future governmental action and lawsuits...

Covid-19: Decree Law No. 33 of 16 May 2020 and PMD of 17 May 2020
Gianni, Origoni, Grippo, Cappelli & Partners, May 2020

After the start of Phase 2 (which began on 4 May 2020) the Italian government adopted on 16 May Law Decree no. 33 concerning, inter alia, "Further urgent measures to deal with the COVID-19 outbreak" (the "DL 16 May 2020"). Moreover, on 17 May 2020, in implementation of the aforementioned DL 16 May 2020, the Prime Minister issued a new decree with specific implementing provisions (the "PMD 17 May 2020")...

Provisional Suspension Against the Resolution to Guarantee the Efficiency, Quality, Continuity and Safety of the Electric National System
Basham, Ringe y Correa, S.C., May 2020

On May 20, 2020, as per publicly available information, the National Center of Energy Control (“CENACE”) instructed some of its operational offices throughout México the suspension of the measures included in its resolution dated April 29th, 2020 issued to guarantee the efficiency, reliability, quality, continuity and safety of the Electrical National System due to the pandemic disease COVID-19 (the “Resolution”)...

COVID-19 Restructuring Event Businesses to Survive and Thrive
MinterEllison, May 2020

Can the shuttered events industry restructure to not just survive but thrive? While many organisations are facing an urgent need to restructure to survive the COVID-19 led financial crisis, those most acutely affected are in the major event, hospitality, tourism, festival and sporting businesses. Social isolation and the severe curtailment of most travel has effectively shut down many of these industries...

The COVID-19 and Its Impacts on Leases in Cambodia
DFDL, May 2020

The COVID-19 global pandemic continues to rage and tenants in Cambodia are now looking carefully at whether this situation can be considered a force majeure event in order to seek a cessation or reduction of their rental payments.  On 11 March 2020, the World Health Organization (“WHO”) officially declared the outbreak of the coronavirus disease 2019 (“COVID-19”) a global pandemic...

The 'Next Normal': Climate Change Risk Governance in a Pandemic Age - Part 1
MinterEllison, May 2020

While immediate pandemic pressures may moderate short-term corporate progress on climate risk assessment and disclosure, there is little to suggest that regulatory and investor expectations have significantly diminished in 2020. Corporates may face increasing investor pressure to make a 'Paris-aligned' business strategy a central pillar of their corporate rebuilding and recovery plans, with a measurable pathway to net zero emissions...

How to Close an M&A in Pandemic
Veirano Advogados, May 2020

The pandemic and government health protection measures have created a series of challenges and smart government responses to try to deal with the imposed social distance...

Hard Knock to the Legal Certainty in Guatemala - Electric Sector in Crisis
QIL+4 ABOGADOS, May 2020

Guatemala dawns today with the validity of a law, contained in the Decree 15-2020, extremely harmful for the country, the economy, the industry and legal certainty, and in violation of the Constitution. This law allows for the possibility of not paying certain basic services (water, cable, telephony, power [sic] (electric power) and internet) by the users, and imposes the obligation to public and private supplier companies not to suspend, under any circumstances, their provision...

The Use of Receiverships in Pre-Bankruptcy Litigation
Spilman Thomas & Battle, PLLC, May 2020

As we continue our series on bankruptcy litigation, we want to discuss the use of receiverships as an important aspect of a fully developed creditors' rights practice. Creditors often face recalcitrant corporate debtors who continue to reap the rewards of their business while ignoring all attempts by creditors to collect amounts owed to them. Sometimes, those debtors' intricate corporate structure makes it harder for creditors to trace money and assets and easier for debtors to hide them...

Still Time to Appeal: Executive Order and Bills Aim to Extend Property Tax Assessment Appeal Dates in Michigan and Provide Additional Tax Relief in Illinois
Dykema, May 2020

The 2020 appeal season is moving and changing quickly, so be sure to not miss any filing deadlines. The deadline for filing petitions with the Michigan Tax Tribunal is set by statute as May 31. On May 14, 2020, Michigan Governor Gretchen Whitmer issued Executive Order 2020-87 (the “Order”), to extend the deadline to protest 2020 property tax assessments to grant some amount of relief to individuals and businesses amid the coronavirus/COVID-19 crisis...

Romanian Energy Regulator vs. Romanian Gas Producers: Indirect Regulation of the Wholesale Prices for Romanian Gas
Nestor Nestor Diculescu Kingston Petersen, May 2020

Setting natural gas prices, directly or indirectly, is already a tradition in Romania and 2020 is not an exception to the rule...

Data Privacy and WFH: NPC Bulletin on Protecting Personal Data in a Work From Home Arrangement
SyCip Salazar Hernandez & Gatmaitan, May 2020

The National Privacy Commission (NPC) has issued guidelines on data protection in work from home (WFH) arrangements (NPC PHE Bulletin No. 12 on “Protecting Personal Data in a Work from Home Arrangement; issued May 15, 2020).  The full text of the guidelines can be found here: https://www.privacy.gov.ph/2020/05/npc-phe-bulletin-no-12-protecting-personal-data-in-a-work-from-home-arrangement/...

Revised Measures in Response to COVID-19: Sterilisation and Opening Timings and an Updated List of Violations and Fines
Afridi & Angell, May 2020

Timings On 18 May 2020, the UAE government announced the following timings with effect from today, 20 May 2020: the National Disinfection Programme will take place between 08:00pm (not 10:00pm) to 06:00am the following day. working hours of butchers, mills and cafes will be from 06:00am to 08:00pm. commercial centres and malls will be open from 09:00am to 07:00pm (with new opening hours to be announced after the upcoming Eid...

The Return-To-Work Checklist: Focus on Labor
SyCip Salazar Hernandez & Gatmaitan, May 2020

Philippine government agencies continue to issue additional and more specific guidelines on dealing with business continuity concerns, in light of more enterprises being able to resume operations under the Modified Enhanced Community Quarantine (MECQ), and more areas now being under the less restrictive General Community Quarantine (GCQ). This briefing covers the following more recent advisories:   Department of Labor and Employment (DOLE) Labor Advisory No...

Employer Considerations for Employee Return to Work
Dykema, May 2020

Dykema’s Labor & Employment Practice Group created a Q&A overview addressing best practices for employers to consider when businesses return to work. The document discusses frequently asked questions concerning employer recalls, pay and benefits, medical documentation, personal protective equipment (PPE) requirements, and more...

Application for PPP Loan Forgiveness … Now What?
Lowenstein Sandler LLP, May 2020

Certain provisions of the coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified or added. On Friday, May 15, 2020, the SBA released its Paycheck Protection Program (“PPP”) Loan Forgiveness Application (the “Forgiveness Application”)...

Artificial Intelligence & Data Protection
Boyanov & Co., May 2020

Preface Artificial intelligence[1](AI) is widely recognised as one of the defining industrial phenomena of the 21stcentury. In today’s technology-dependent world, its potential impact on business and economic development can hardly be understated...

 

 

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