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SBA Issues Interim Final Rule for the Paycheck Protection Program
Dykema, April 2020

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...

New Law Modifies 30-Days Payment System
Carey, April 2020

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...

Further Measures Implemented by the UAE Authorities in Response to COVID-19
Afridi & Angell, April 2020

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...

Corporate Governance and Insolvency Law Amid the Coronavirus Crisis
Fischer Behar Chen Well Orion & Co., April 2020

Dear Clients and Colleagues, 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...

Friday Deadline Looms for Pennsylvania Businesses Seeking Exemption from Shutdown Order
Spilman Thomas & Battle, PLLC, April 2020

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...

Moratorium on Bankruptcy Proceedings
ALRUD Law Firm, April 2020

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...

COVID-19 Updates - Indian IP Offices Functioning
Kochhar & Co. Advocates & Legal Consultants, April 2020

The Indian Government has announced a full nationwide lockdown for three weeks (until April 14, 2020) in order to contain the spread of Covid-19. Accordingly, the Indian Trade Marks Registry, Patents and Design Office have been closed till April 15, 2020. Nevertheless, the online filing portal of Indian IP offices is operational. All deadlines falling till April 15, 2020 will become due on the day when the IP offices re-open...

Corona-Info: The Legislator Acts - We Summarize For You!
Heuking Khn Ler Wojtek, April 2020

The legislator acts - Special regulations on, among other things, deferral of claims, insolvency law, tenancy law and loan agreements in Germany to come. At the end of March, the German legislator adopted special regulations in response to the COVID 19 pandemic in fast-track proceedings. The law was passed by the German parliament (Bundestag) on Wednesday, March 25, 2020, and, in a special session, also by the German Federal Council (Bundesrat) on Friday, 27 March, 2020...

Summary of the Statement of the European Data Protection Board on the Processing of Personal Data in the Context of the Pandemic
Szecskay Attorneys at Law, April 2020

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...

Recent Changes to the Legislative Framework Relating to the Emergency State
Nestor Nestor Diculescu Kingston Petersen, April 2020

On 27th March 2020, the Ministry of Internal Affairs has posted for public consultation a draft emergency government ordinance envisaged to amend the Emergency Government Ordinance no. 1/1999 relating to the emergency state (“EGO 1/1999”). EGO 1/1999 is the basis on which the presidential decree approving the emergency state was issued on 16thMarch 2020...

USCIS Extends Office Closures Until May 4, 2020
Dykema, April 2020

The USCIS has announced it will extend its suspension of in-person services at its field offices, asylum offices, and application support centers (ASCs) until May 4, 2020. It has also indicated it may extend these closures beyond that date if needed. USCIS will continue to provide limited emergency services during these closures...

Treasury Department Releases Preliminary PPP Guidance and Application
Dykema, April 2020

On March 31, 2020, the U.S. Department of the Treasury, which is supporting the U.S. Small Business Administration (SBA) in administering the Paycheck Protection Program (PPP), and SBA issued preliminary guidance on the program and made available the form of application...

Ministry of Economy Publishes Modifications to Mexican Official Standard NOM 051-SCFI/SAA1-2010, Which Sets Forth the Commercial and Sanitary Specifications Matters of Labeling for Pre-Packaged Food
Basham, Ringe y Correa, S.C., April 2020

Due to the reforms and additions to the General Health Act in matters of overweight, obesity and labeling of food and non-alcoholic beverages setting a frontal warning system, published in the Federal Official Gazette (DOF for its acronym in Spanish) on November 8, 2019; last March 27, 2020, the Ministry of Economy published, in the evening edition of the DOF, the Modification to Mexican Official Standard NOM-051-SCFI/SSA1-2010, General labeling specifications for pre-packaged food and non-alcoh

COVID-19 - "Antivirus Programme" - Key Financial Assistance for Employers in the Czech Republic - Part II
Kocian Solc Balastik, April 2020

(continuation from Part I - separate article) Part II - "Antivirus Programme" - Financial Assistance to Czech Employers   The Ministry of Labour and Social Affairs was mandated by the Government to further prepare a compensation program for entrepreneurs who continue to operate but whose production has decreased due to measures (category C of the Antivirus Programme)...

Measures Taken by the Chilean National Customs Service Regarding COVID-19
Carey, March 2020

I. Regulation Considering the Covid-19 pandemic and Chile's declaration of a State of Catastrophe, the National Customs Service ("Servicio Nacional de Aduanas," SNA)) has issued certain regulation to facilitate electronic foreign and domestic trade operations and to protect the health of people involved in its operations. Regulations currently in force and effect: A. Circular Letter No...

NZX Announces Additional Class Waiver and Ruling in Response to COVID-19
MinterEllisonRuddWatts, March 2020

On 26 March, NZX Regulation announced an additional class waiver and ruling for issuers in response to the challenges posed by COVID-19. This follows two previous waivers announced earlier in the month. The NZX’s media release is available here.   Who needs to read it? Why? The NZX’s announcement will be of interest to all listed issuers, particularly those considering their capital raising needs in the coming months...

How Insurance Companies Failure to Exclude Business Interruption Losses Caused by COVID-19 Impacts your Coverage
Waller, March 2020

Commentators and lawyers continue to make blanket statements regarding lack of business interruption coverage for losses caused by the novel coronavirus (COVID-19). They contend that coronavirus-related losses cannot satisfy the “direct physical loss of or damage to [covered] property” language contained in many policies to trigger coverage in the first place...

Federal Reserve Policies in Response to COVID-19
Waller, March 2020

The Board of Governors of the Federal Reserve System (the “Fed”) has implemented monetary policy and federal programs in response to COVID-19. The policies and programs primarily affect financial institutions in the business of lending, but an understanding of the policies will aid all borrowers in knowing the constraints of their lenders and the process by which they will receive funds...

Effects of the COVID-19 Pandemic on Contractual Relations
Heuking Khn Ler Wojtek, March 2020

For all parties, the question arises at present as to what effects COVID-19 will have on existing contractual relationships – specifically, who will bear the economic burden of the pandemic. In the following is a brief overview: 1...

M&A Transactions in the Face of the Coronavirus
Wardynski & Partners, March 2020

M&A deals are one of the tools for pursuing business. For some they are amethod for expanding their scale of operations or generating synergies, and for others allow them to exit investments or raise capital. Thus the turbulence now felt by businesses is impacting their activity in the M&A market. While refraining from evaluating the economic impacts of the current situation, we focus on analysing selected legal aspects...

Restrictions on Business Operations and Personal Freedoms Relevant for Business
Wardynski & Partners, March 2020

In connection with the coronavirus epidemic, restrictions have been introduced on economic activity and personal freedoms which are unprecedented in the history of adoption and application of law in Poland since 1989. Even now it is evident that the coronavirus epidemic will touch on all sectors of the economy...

Performance of contracts in epidemic conditions
Wardynski & Partners, March 2020

Even such unusual circumstances as apandemic donot overthrow the general principle that contracts should be performed (pacta sunt servanda). But this does not mean that the current situation has no impact on the substance or performance of contractual obligations. Two main situations should be considered here: As aresult of the circumstances, performance of acontractual obligation has become impossible...

Decisions Taken Remotely by Company Bodies
Wardynski & Partners, March 2020

Among many problems facing businesses now is efficient management and decision-making when members of the company’s governing bodies cannot appear in person at headquarters for various reasons. Technology ensures efficient communications, but the possibility for corporate bodies to take resolutions remotely has been debatable in some situations...

PODCAST Congress Responds A Closer Look at the Families First and CARES Acts
Waller, March 2020

Welcome to PointByPoint. Conversations, interviews and legal commentary for today's business professionals. In this episode, Waller’s Mark Peters talks with employment attorney Kierstin Jodway about two of the major federal stimulus packages related to the coronavirus and what it means for businesses. Here is a transcript of the conversation: Mark Kierstin, thanks for being with us today...

How to Apply for a SBA Paycheck Protection Program loan
Waller, March 2020

Now that the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) has been signed into, law, small businesses may be wondering what they can do to get a Paycheck Protection Program (“PPP”) loan into their bank accounts as soon as possible so they can pay employees. In case you missed it, check out our bulletin here for a detailed description of the terms and conditions of and eligibility for these very favorable loans...

 

 

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