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CARES Act Relief Checklist: Considerations in Deciding What Relief is Right for Your Business
Haynes and Boone, LLP, April 2020

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) offers relief to businesses affected by COVID-19 through various programs, including forgivable loans and federal income tax credits. However, the CARES Act prevents businesses from claiming certain benefits that are considered duplicative...

Corona and the Adoption of Annual and Consolidated Financial Statements, in Particular Relating to the Supervisory Board's Financial Statement Meeting
Heuking Kühn Lüer Wojtek, April 2020

Current status: March 31, 2020 Increasingly far-reaching restrictions with respect to the COVID-19 virus also bring to light the issue of timely drafting, auditing, adoption, and publication of annual and consolidated financial statements, in particular for listed companies. This against the background that capital market-oriented companies, i.e...

Impact of Coronavirus and Force Majeure Rules Under the Laws of North Macedonia on Existing and Future Commercial Contracts
Polenak Law Firm, April 2020

In order to cope with the public health crisis caused by the COVID-19 pandemic, the Government of North Macedonia has instituted a number of administrative measures aimed at preventing the spread of this virus, but also at dealing with the economic consequences of the crisis...

SEC Issues Sweeping Proposal to Simplify Private Securities Offerings Regulation
Waller, April 2020

On March 4, 2020, the Securities and Exchange Commission (SEC) issued a massive, 341-page release proposing “a set of amendments that would harmonize, simplify, and improve the exempt offering framework to promote capital formation and expand investment opportunities while preserving and enhancing important investor protections...

COVID-19 Extensions for Trademark Office
Spilman Thomas & Battle, PLLC, April 2020

In response to the COVID-19 pandemic, the Director of the U.S. Patent and Trademark Office authorized relief for trademark applicants, registrants, and parties to Trademark Trial and Appeals Board ("TTAB") proceedings. The Notice of Waiver provides a 30-day extension of time from the initial date it was due, for deadlines falling between March 27, 2020 and April 30, 2020. The filing must include a statement that the delay in filing or payment was due to the COVID-19 outbreak...

SBA Issues Further Guidance Concerning the Paycheck Protection Program
Waller, April 2020

While most of the PPP under the CARES Act remains substantially unchanged by the SBA’s guidance issued late on April 2, there is one material alteration that will affect all borrowers under the program. Under the CARES Act, loan proceeds under the PPP could be used for payroll costs, mortgage interest, rent, utilities and interest payments on other debt obligations. While those use of proceeds have not changed, the guidance placed a limitation on them...

Homeland Security Reminds Employers that I-9s are Still Needed, but Offers Guidance for Employers Who are Fully Remote
Spilman Thomas & Battle, PLLC, April 2020

Human resource professionals all know of the obligation to complete a Form I-9 to verify the identity and employment authorization of a newly hired employee. To verify a newly hired employee’s identity, the employee must present the employer with acceptable documents, which the employer must then examine to determine whether the documents reasonably appear to be genuine and relate to the employee...

Government Issues Relief for Directors and Companies from Insolvency Provisions in the Companies Act 1993
MinterEllisonRuddWatts, April 2020

MinterEllisonRuddWatts welcomes the announcement made by the Government today of a number of measures to support businesses during the uncertainty created by COVID-19. The reforms provide flexibility in the application of certain directors' duties in the Companies Act 1993 and implement an accelerated mechanism for companies to request a moratorium on the payment of debts...

Bridging the Gap - An Overview of SBA Loans under the Paycheck Protection Program
Haynes and Boone, LLP, April 2020

LATEST UPDATE - April 3, 2020 In response to the Coronavirus pandemic, the President signed H.R. 748, known as the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act on March 27, 2020. The bill provides more than $2 trillion of aid to individuals and the public and private sector...

Offshore Contractor’s Guide through the English Law Issues Arising from the Latest Oil Price Collapse and COVID-19
Haynes and Boone, LLP, April 2020

Introduction: The new reality As a result of the sudden and dramatic fall in the oil price that had occurred between June 2014, when oil had been trading at prices of around US$115 per barrel of Brent crude, to January 2015 by which time it had fallen to around US$35 per barrel, I was prompted to prepare a “Guide for Contractors”. Parties in the offshore oil and gas sector, and in particular contractors in the industry, were facing turbulent and unpredictable times...

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...

In the Nick of Time: Department of Labor Issues Regulations Interpreting the Families First Coronavirus Response Act
Dykema, April 2020

On April 1, the DOL provided employers with further clarity on the FFCRA by publishing temporary regulations. These regulations will be effective from April 1, 2020, until December 31, 2020—the same effective period of the FFCRA. Also relevant to employers, the IRS issued guidance regarding the FFCRA tax credit...

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...

Treasury Issues New Paycheck Protection Program Application Forms for Borrowers and Lenders
Dykema, April 2020

On April 2, 2020, the U.S. Department of the Treasury issued afinal borrower applicationand provided lenders with therequired datathe federal government will collect electronically to guarantee the loans. The lender application form requires the lender to certify they have gathered the requisite information from the applicant, as outlined in the updated borrower application form...

CARES Act Offers Liquidity to Eligible Businesses and Mid-Sized Companies (500 - 10,000 employees)
Dykema, April 2020

Insight on Eligibility and Requirements for Obtaining Financial Assistance For Mid-Sized Companies and Eligible Businesses (other than Air Carriers and Businesses Critical to MaintainingNational Security) The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) provides for various loans, loan guaranties and other forms of financial assistance to U.S. businesses both small and large and in specific industries and sectors...

In the Nick of Time: Department of Labor Issues Temporary Regulations Interpreting the Families First Coronavirus Response Act
Dykema, April 2020

On April 1, the DOL provided employers with further clarity on the FFCRA by publishing temporary regulations. These regulations will be effective from April 1, 2020, until December 31, 2020—the same effective period of the FFCRA. Also relevant to employers, the IRS issued guidance regarding the FFCRA tax credit...

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...

Labor Board Promotes the Suspension of Collective Bargaining During Health Emergency / Resolution by the Labor Board on the Labor Effects of Health Measures Issued by the Authority
Carey, April 2020

Labor Board promotes the suspension of collective bargaining during health emergency   On Monday, March 16th, the Labor Board issued Service Order No. 1, which on the option of extending the term for collective bargaining in order to defer the day of voting for a strike...

COVID-19 in the Baltics: What State Measures are Available or are Being Planned for Your Company in Each of the Baltic States?
COBALT, April 2020

On the 17thof March, we gave an overview on the options available for the governments in Estonia, Latvia and Lithuania to support companies being harmed by the COVID-19 crisis. At that time we noted that companies should work with the government in order to ensure that the measures taken truly help the companies survive the crisis...

COVID-19 in the Baltics and Belarus: FAQs by employers
COBALT, April 2020

1. What measures can be implemented by employers in relation to employees who have returned from the territories affected by the virus? Estonia Save for limited exceptions that apply to diplomats, health care employees and a few other categories, persons who have entered in Estonia on March 17, 2020 or later are required to stay in their place of residence for 14 days after crossing the Estonian border under the order of the Government of the Republic...

COVID-19 in Estonia: The Coronavirus in Employment Relations & Taxes - April Update
COBALT, April 2020

It has now been announced that from Monday, 6 April 2020 employers will be able to apply for compensation payment from the state budget for March. The Estonian Unemployment Insurance Fund has explained by now the technical aspects of filing applications and responded to the more frequent questions asked by employers about applying for compensation. Below you will find a brief overview of how to apply for compensation as well as some practical explanations and suggestions...

Should Health Care Employers Prepare for COVID-19 As A Work-Related Injury?
Verrill, April 2020

While we know that everyone is being bombarded with COVID-19 recommendations, advice, news, and data, another important issue to manage in the workplace is the possibility of COVID-19 infection, if acquired at work and due to the work performed, resulting in a workers’ compensation injury. Generally, in order for an injury or illness to be work-related, the condition must both “arise out of” and “in the course of” employment...

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...

COVID-19 Related Employee Benefits Issues for Governmental Employers
Hanson Bridgett LLP, April 2020

As a growing number of the workforce is being affected by the COVID-19 pandemic, governmental employers are raising benefit-related questions. The Employee Benefits Group at Hanson Bridgett will be providing updated information on possible issues arising in the benefits area through Benefits Alerts and postings on Hanson Bridgett's Online COVID-19 Resource Center...

Guidelines for Contractors Responding to COVID-19
Hanson Bridgett LLP, April 2020

You’ve read the qualifying language before: across the country, construction projects are being impacted by the COVID-19 pandemic. We thought it important to prepare guidelines to assist contractors in navigating the situation from a risk management perspective. The situation is dynamic and will change quickly. A one-size-fits-all solution does not exist, and this global challenge continues to evolve. What works today may not address tomorrow’s needs...

 

 

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