Control of Certain Investments: New Protective Provisions
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. Current investment control The Act on Control of Certain... More
Are Parts of Paid COVID-19 Leave Regulations in Jeopardy? Federal Court Rejects Parts DOL’s FFCRA Regulations, Employers Brace for Possible Fallout
On Monday, August 3, 2020, a New York federal judge issued a decision invalidating portions of the DOL’s regulations implementing the Families First Coronavirus Relief Act (“FFCRA”). The decision’s impact changes the legal landscape employers confront as they strive... More
Emergency Parental Leave is Published
On Monday July 27th, Law No. 21,247 which establishes special benefits for some parents and children’s guardians (the “Law”) in the context of the COVID-19 pandemic, was published on the Official Gazette. The main aspects regulated by the Law, are the following: ... More
COVID-19 “Safe Harbour” Not for Sinking Ships
Director’s personal liability for company tax debts On 10 July 2020, Inland Revenue issued a public ruling (the Ruling) considering the application of the asset stripping rules (under which directors and shareholders may be personally liable for company tax debts) in the context of... More
An Examination of the Measures to Mitigate the Impact of Covid-19 on Taxpayers in Nigeria
As Covid-19 continues to impact all aspects of our lives, taxpayers are rightly seeking emergency tax measures to mitigate the impact of Covid-19 on their businesses. We examine below the measures that have been introduced to mitigate the impact on taxpayers. THE ECONOMIC STIMULUS BILL... More
Potential Liabilities for Directors in Insolvency: Considerations for Directors of Companies Facing COVID-19 Induced Insolvency
The global pandemic of the disease caused by a novel coronavirus, COVID-19, has caused unprecedented disruption to global supply chains and consumer demand and resulted in government-mandated restrictions to almost all businesses. Many companies, small and large, are facing insolvency and... More
Underperforming real estate: Can REIT (funds) assist developers in the UAE?
During these unprecedented times, developers all over the world are actively looking for solutions to deal with underperforming real estate. For developers in the United Arab Emirates (UAE), real estate investment funds (otherwise known as REITs) may offer a solution to the problem. A... More
COVID-19: Barbados Regulatory Update
In December 2019, health officials in Wuhan, China informed the World Health Organization ("WHO") of a strain of "pneumonia" affecting members of its population.1 This "pneumonia" was later identified as a severe acute respiratory syndrome coronavirus... More
Poland
Control of Certain Investments: New Protective Provisions
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. Current investment control The Act on Control of Certain... More
Russia
Legal Checklist: How to Make your Business Sustainable in the Face of New Challenges
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;... More
Germany
EU Commission Approves Economic Stabilization Fund for Liquidity and Capital Support for the Real Economy
By adopting the Act on the Establishment of the Economic Stabilization Fund of March 27, 2020, the German Parliament and the Federal Council established theEconomic Stabilization Fund(“ESF”) as a special fund to stabilize the real economy in times of the COVID-19 pandemic. The... More
Portugal
Taxonomy Regulation
Introduction and background The “Action Plan: Financing Sustainable Growth” was published by the European Commission on 8 March 2018 and it established a financing strategy to redirect capital flows towards sustainable investment. Against this background, the European... More
Hungary
New Job-Creating Wage Subsidy Helps Companies Rebuild in the Midst of the Pandemic-Caused Economic Crisis
In its notice published on May 18, 2020, the National Employment Service (Nemzeti Foglalkoztatási Szolgálat) laid down the fundamental criteria that must be met by an applicant to be eligible for the new EU-supported wage subsidy intended to help create new jobs in Hungary in... More
Luxembourg
Introducing the Arendt Insights Mobile App: Instant Access to the Legal Developments Impacting Business in Luxembourg.
“At a time when the flow of information is always expanding, this app is a smart alternative for users to stay informed about these topics without a flood of emails.”(Jean-Marc Ueberecken, Managing Partner). The CoVid-19 crisis as a trigger Arendt Insights is the only app... More
Italy
COVID-19: Main Amendments made by the Conversion Law to the Liquidity Decree with Respect to the Measures Aimed at Ensuring the Going Concern of Companies
1. Introduction Pursuant to Law no. 40 of 5 June 2020, published in the Official Gazzette no. 143 of 6 June 2020 (the “Conversion Law”), Law Decree no. 23 of 8 April 2020 (the “Liquidity Decree”) was converted into law with amendments. Below is a summary of the key... More
Czech Republic
Lex Voucher for Culture - An Alternative to Refunds for Cancelled Cultural Events
On 19 May 2020, an Act On certain measures to mitigate the effects of the coronavirus epidemic known as SARS CoV-2 on cultural events (Act No 247/2020 Coll, the “Act” ), entered into force. Not only for the field of tourism, but also for the field of culture, the... More
Michigan
Are Parts of Paid COVID-19 Leave Regulations in Jeopardy? Federal Court Rejects Parts DOL’s FFCRA Regulations, Employers Brace for Possible Fallout
On Monday, August 3, 2020, a New York federal judge issued a decision invalidating portions of the DOL’s regulations implementing the Families First Coronavirus Relief Act (“FFCRA”). The decision’s impact changes the legal landscape employers confront as they strive... More
Tennessee
HHS Commits to Release Reporting Requirements for Provider Relief Funds on August 17
Since the Department of Health and Human Services (HHS) Provider Relief Funds (PRF) first started arriving in provider bank accounts on April 10, 2020, HHS has stated that it will issue additional guidance “soon” on mandatory reporting requirements on how use of funds must be... More
New Jersey
The EU-U.S. Privacy Shield Invalidated: What it Means for U.S. Companies
What You Need To Know and Do Now: Europe’s top court has invalidated the EU-U.S. Privacy Shield, effective immediately. For now, other EU-U.S. data transfer mechanisms, such as the Standard Contractual Clauses, remain intact BUT subject to additional, intense scrutiny by EU... More
Texas
Startup Financing Strategy During COVID-19
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,... More
West Virginia
COVID-19 Shutdown Showdown in Pennsylvania
Lawmakers and citizens across the country are engaged in disputes over the breadth and duration of shutdown orders intended to slow the spread of the novel coronavirus. Pennsylvania was the first state, however, to have a case reach the U.S. Supreme Court where, despite a setback for the... More
California
Relief for Employee Benefit Plan Fiduciaries Due to COVID-19
The Department of Labor (DOL) has issued a "Relief Notice," providing ERISA plan fiduciaries additional time to furnish required notices and disclosures to participants and beneficiaries. For governmental plans that are not subject to ERISA, the U.S. Department of Health and Human Services... More
Kentucky
Ohio House Bill 197 Passed: What This Means for Workers’ Compensation
Effective March 27, 2020, the Ohio Legislature passed House Bill 197 as a direct response to Governor Mike DeWine’s executive order earlier that month. How has HB 197 changed Ohio workers’ compensation? Two main ways: permitting public meetings and “tolling”... More
Alabama
Tips For Applying COVID - 19 Stark Law Waivers
Among the many extraordinary measures taken by the federal government in response to the COVID-19 pandemic is the issuance of blanket waivers of certain provisions of the federal self-referral prohibition commonly known as the Stark Law. The waivers loosen significant restrictions on... More
Chile
Emergency Parental Leave is Published
On Monday July 27th, Law No. 21,247 which establishes special benefits for some parents and children’s guardians (the “Law”) in the context of the COVID-19 pandemic, was published on the Official Gazette. The main aspects regulated by the Law, are the following: ... More
Panama
Panama: The World of Turnkey Contracts, Partial Payment Accounts and Certificates of No Objection
For a long time, we have heard in different social media, for various reasons, some more positive than others, information related to Turnkey Contracts and the State indebtedness resulting from the Partial Payment Accounts (in Spanish, “Cuentas de Pago Parcial”) and Certificates... More
Guatemala
Labor Update: COVID-19 Preventative Measures for Workplaces
The Guide for the Identification of Labor Risks by Covid-19 and Preventive Measures in Workplaces was published by the Guatemalan Social Security Institute. In accordance with this Guide, and in addition to the presidential provisions already established, all employers must implement the... More
Peru
10 Questions about the Impact of COVID-19 on Public Private Partnerships in Peru (PPP)
Is the operation of PPP projects suspended? No. The State of National Emergency (in force from March 15 to June 30, 2020) has not affected the operation of PPP projects related to the provision of public and/or essential goods and services. Currently, it is also permitted to perform... More
Mexico
Extension in the Suspension of Deadlines in the Mexican Institute of Industrial Property Until Further Notice
Following the agenda established within the Federal Government's Gradual Plan towards a New Normalization, the Mexican Institute of Industrial Property (MIIP) has published an agreement by means of which it extends the suspension of terms and deadlines with respect to all processes and... More
Colombia
External Circular No. 019 -2020 of the UPME
Regarding its functions, the UPME has been monitoring the demand for electrical energy and natural gas on a daily basis, in order to identify the impact of the measures taken to mitigate the effects of COVID-19 on the consumption of these energies. The following conclusions have been... More
Argentina
Report of the Department of Environmental Law: Valid Certificates, Presentations, Extension of Attention to the Public
The President of the Environmental Protection Agency of the Autonomous City of Buenos Aires (“APrA”), through resolution No 106/2020. ordered (i) To extend, for a period of ninety consecutive days, the validity of the certificates and the corresponding presentations to the... More
Costa Rica
Extension of the Restriction on the Export and Re-Export of Products for Surgical Use in Costa Rica
The Costa Rica´s General Directorate of Customs issued the statement DGA-010-2020, which expands the list of products for surgical use that have export and re-export restrictions, which they had initially established through directive DGA-003-2020. The products added are as follows: ... More
New Zealand
COVID-19 “Safe Harbour” Not for Sinking Ships
Director’s personal liability for company tax debts On 10 July 2020, Inland Revenue issued a public ruling (the Ruling) considering the application of the asset stripping rules (under which directors and shareholders may be personally liable for company tax debts) in the context of... More
Malaysia
Latest Covid-19 Travel Advisory: More Expatriate Groups Permitted to Return to Malaysia
Pursuant to the verbal announcement made by our Senior Minister, Datuk Seri Ismail Sabri Yaakob last week, the Government has further released written guidelines on the categories of expatriates who are permitted to return to Malaysia and the measures to be undertaken prior to and after entering... More
India
Contracts and Force Majeure During a Pandemic (IBLJ)
Contracts and force majeure during a pandemic was published recently in the Indian Business Law Journal authored by Chandrasekhar Tampi, senior partner and Ankur Khandelwal, partner, Kochhar & Co. Overview- The spread of COVID-19 has raised multiple questions with respect to... More
Philippines
SyCipLaw's Doing Business in the Philippines: A General Guide (2020 Update)
SyCip Salazar Hernandez & Gatmaitan’s (SyCipLaw) publication about the general guidelines in doing business in the Philippines has been updated. It aims to showcase the Philippines as an attractive venue for business ventures, to guide the businessmen and lawyers alike in their... More
Indonesia
Government Measures in Employment Sector in Response to the COVID-19 Pandemic in Indonesia
The Indonesian Ministry of Manpower (“MOM”) and some other Ministries have issued a number of regulations and policies or guidelines to manage and control the impact of the spread of COVID-19 in the Indonesian employment sector. Please find below a summary of the government... More
Japan
COVID 19: Force Majeure in Japan - Some Key Questions
The sudden onset of the Covid-19 emergency has caused significant disruption across swathes of the Japanese economy and raised novel and urgent questions for businesses as they seek to handle the challenges they face, whilst balancing the protection of their businesses and their obligations... More
Australia
Understanding the COVID-19 'JobKeeper Payments'
Many employers have been considering workforce changes to address the economic downturn and cash flow issues caused by COVID-19. Yesterday's announcement by the Federal Government about wage subsidies (known as 'JobKeeper Payments') has been welcomed by employers and unions, and should be... More
China
Online Dispute Resolution Scheme (ODR)
As part of its unprecedented relief package to alleviate the impact of COVID-19, the Hong Kong Government is launching the Online Dispute Resolution (ODR) Scheme (Scheme). What cases will the Scheme cover? The Scheme will cover COVID-19 related disputes with a claim amount of not more than... More
Nigeria
An Examination of the Measures to Mitigate the Impact of Covid-19 on Taxpayers in Nigeria
As Covid-19 continues to impact all aspects of our lives, taxpayers are rightly seeking emergency tax measures to mitigate the impact of Covid-19 on their businesses. We examine below the measures that have been introduced to mitigate the impact on taxpayers. THE ECONOMIC STIMULUS BILL... More
South Africa
Mauritius: Coronavirus (COVID-19) Impact on Financial Institutions
The outbreak of the Coronavirus (COVID-19) pandemic and the incidental measures adopted by the Mauritian government represent serious potential impact for financial institutions in general. Below, we examine the recourses available to borrowers facing financial hardship as a result of the... More
South Africa
South Africa: Coronavirus (COVID-19) - How to Avoid Vicarious Liability for Data Protection Breaches by Employees in an Online Environment during Lockdowns
The UK’s highest court recently ruled that Morrisons, a supermarket group, was not vicariously liable for the criminal act of an employee with a grudge who leaked the payroll data of about 100 000 members of staff. Many companies sighed in relief on hearing that the Supreme Court of... More
South Africa
ENSafrica: Coronavirus (COVID-19) Legal Update
employment Update to C19 TERS and tax treatment of C19 TERS benefit Lauren Salt (ENSafrica Employment) and Arnaaz Camay (ENSafrica Tax) summarise the latest amendments to the COVID-19 Temporary Relief Scheme (“C19 TERS”), 2020 directive. They also consider the tax implications... More
South Africa
When Should the Labour Court Intervene in a Retrenchment Process?
Economists predict that the Coronavirus (COVID-19) pandemic will lead to retrenchments on an unprecedented scale on the back of an already weak economy. It is likely that unions, when confronted with proposals to retrench, will approach the consultation process envisaged in section 189 and... More
Nigeria
COVID-19 Legal Issues Newsletter
As Nigeria joins the rest of the world in grappling with the COVID-19 pandemic (“the pandemic”), the Federal Government has declared a curfew in the Federal Capital Territory and two other major States as well as restricting interstate travel. Prior to this, several... More
South Africa
South Africa: Update to the Coronavirus (COVID-19) TERS and Tax Treatment of C19 TERS Benefit
In light of President Ramaphosa’s announcement of a phased approach to the end of lockdown, many businesses will still be required to remain closed (or partially closed) after 30 April 2020. With this in mind, many employers will still require assistance from the Coronavirus... More
South Africa
South Africa: Coronavirus (COVID-19) and Privacy Concerns in your School
In light of the declaration of a national state of disaster as a result of the Coronavirus (COVID-19) pandemic, it is now likely that schools and further learning institutions in South Africa will remain closed for the foreseeable future (even after the national lockdown period) and online... More
British Columbia
Potential Liabilities for Directors in Insolvency: Considerations for Directors of Companies Facing COVID-19 Induced Insolvency
The global pandemic of the disease caused by a novel coronavirus, COVID-19, has caused unprecedented disruption to global supply chains and consumer demand and resulted in government-mandated restrictions to almost all businesses. Many companies, small and large, are facing insolvency and... More
Quebec
How to be a Good Franchisor in the COVID-19 Era?
In recent weeks, and especially in recent days, we have seen the serious repercussions of the spread of COVID-19 on Quebec businesses and SMEs. Government authorities are planning financial assistance measures for businesses, and some chambers of commerce have already announced that... More
British Columbia
It Might Be Negligent, But is it Gross Negligence?
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... More
British Columbia
Alberta Pauses Residential Evictions for Non-Payment and Prohibits Rent Increases and Late Payment Penalties During COVID-19 Pandemic
On March 27, 2020, the Government of Alberta announced new measures to address residential tenancy issues arising during and as a result of the COVID-19 pandemic. Max Carroll and Jeffrey Hernaez of our Vancouver office wrote yesterday about similar measures put in place in... More
British Columbia
CSA to Provide Blanket Relief for Market Participants Due to COVID-19
In light of the rapidly evolving developments relating to COVID-19, and recognizing that issuers have an urgent need to focus on critical business decisions, the Canadian Securities Administrators (the “CSA”) have announced that they will grant temporary, blanket relief... More
British Columbia
COVID-19 and Global Issues: A Contrarian's Solution to Construction Contracts?
For consideration by owners, contractors, suppliers, and project teams towards solutions on current and/or future projects. Global pandemic. Oil trade war. Volatile FX Markets. Market collapse? East African locusts. All of these global issues, and potentially others,... More
Quebec
The Coronavirus Guide for Employers: Everyday Measures for the Workplace
Employers must review their action plan on a daily basis to promote prevention, manage possible or proven contagion among their employees and ensure that business operations continue. Two actions are key: Seeking accurate information from public health officials and governments... More
British Columbia
Keeping Cool: An Employer's Guide to COVID-19 in the Workplace
COVID-19 has now been characterized as a pandemic by the World Health Organization. Although the number of reported cases in Canada is currently low in comparison to some other countries, public health authorities have cautioned that this situation may change rapidly. As part of this... More
United Arab Emirates
Underperforming real estate: Can REIT (funds) assist developers in the UAE?
During these unprecedented times, developers all over the world are actively looking for solutions to deal with underperforming real estate. For developers in the United Arab Emirates (UAE), real estate investment funds (otherwise known as REITs) may offer a solution to the problem. A... More
United Arab Emirates
Cram Down Financings in the Era of Covid-19
We are in unprecedented times. The Covid-19 pandemic has swept the globe like a tsunami and it continues to wreak havoc on countries, people and economies. The effects of the pandemic are evident now. For example, the US unemployment rate is presently at 14.7%. In the peak of the financial... More
United Arab Emirates
Recent Measures Implemented in Abu Dhabi in Response to COVID-19
On 30 May 2020, the Abu Dhabi Media Office posted through Twitter that the Department of Government Support has eased restrictions on some activities and issued a set of guidelines for working from and visiting government entities in Abu Dhabi. The guidelines below come into effect from... More
United Arab Emirates
Post Eid al Fitr Reopening Guidelines and Easing of Movement Restrictions
On 26 May 2020, Dubai Economy published the “Post Eid al Fitr” reopening Guidelines which took effect from Wednesday 27 May 2020 and include updates to the protocols for the wholesale and retail trade including salons and barbershops as well as valet parking. The Guidelines also... More
United Arab Emirates
Revised Measures in Response to COVID-19: Sterilisation and Opening Timings and an Updated List of Violations and Fines
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.... More
United Arab Emirates
The ADGM Companies Regulations 2020
The Abu Dhabi Global Market has announced amendments to its Companies Regulations. The Companies Regulations 2020 (2020 Regulations) repeal the Companies Regulations 2015 (as amended). We have summarised below the key changes under the 2020 Regulations. Companies Regulations 2020 ... More
United Arab Emirates
DMCC Employment Guidelines during the COVID-19 Precautionary Measures Period
The DMCC Authority recently passed DMCC Guidelines 1 of 2020 (DMCC Guidelines) setting out what actions DMCC employers can take with respect to their employees during the COVID-19 Precautionary Measures Period. DMCC entities can: • Request employees to work remotely and implement... More
United Arab Emirates
New Measures Implemented by the UAE Authorities in Response to COVID-19 [7 May 2020]
Below is a summary of key new measures that have been implemented by various UAE authorities since 30 April 2020 and the time of this inBrief, 12:00 noon on Thursday, 7 May 2020. I. Economic Relief Measures A. Dubai Healthcare City Authority (DHCA) announces business relief... More
Barbados
COVID-19: Barbados Regulatory Update
In December 2019, health officials in Wuhan, China informed the World Health Organization ("WHO") of a strain of "pneumonia" affecting members of its population.1 This "pneumonia" was later identified as a severe acute respiratory syndrome coronavirus... More
Bahamas
Employment Update on the Government's Stimulus Measures in Response to COVID-19
On Monday, 30th March 2020, the Deputy Prime Minister and Minister of Finance, the Honourable K. Peter Turnquest addressed the House of Assembly to provide an overview of the expected economic fallout in The Bahamas from the Covid-19 pandemic along with some details as to the... More
Bahamas
Information Privacy and COVID-19
In the wake of the COVID-19 outbreak, the business community is faced with unprecedented threats to their cyber-infrastructure and data. Sensitive data, in particular, will be vulnerable to security breaches as a result of reduced human power under emergency legislation. Moreover, criminal... More
Bahamas
COVID-19: Potential Employment Related Issues
In recent weeks, Governments around the world have been grappling with how best to combat the spread of the Coronavirus (COVID-19). The Bahamas is no exception. To date the Prime Minister has issued two Emergency Orders aimed at ensuring the health and safety of persons within The Bahamas.... More
Bahamas
COVID-19 - Force Majeure Clauses VS. Contractual Obligations
The impact of Covid-19 is becoming more prevalent throughout the economic landscape of The Bahamas. Most recently, in an effort to contain the spread of the virus, preventative measures involving the closure of non-essential local businesses for a specified duration were introduced by the... More
British Virgin Islands
Eastern Caribbean Supreme Court Adopts Measures to Ensure Continuity in Response to COVID-19 Impact
O’Neal Webster hopes that you, your family, your co-workers, and communities are staying healthy and positive during these challenging times. With the surge of the new coronavirus COVID-19 cases around the globe, and now in the Caribbean, all major stakeholders in the British Virgin... More
