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Covid Programme - Commercial Rent Relief
Kocian Solc Balastik, June 2020

The state contribution for commercial rents to entrepreneurs with forcibly closed establishments is gaining more concrete outlines. If an entrepreneur negotiates a 30% discount on rent from his landlord, he will be able to apply for state support in the amount of 50% up to a ceiling of CZK 10 million for the period from April to June. However, the program has yet to be notified to the European Commission before it can be launched...

New York City Enacts Law Affecting Enforceability of Certain Commercial Lease Guaranties for COVID-Affected Businesses
Haynes and Boone, LLP, May 2020

On May 26, 2020, the Mayor of New York City, Bill de Blasio, signed a broad COVID-19 relief package into law, to supplement existing federal and state relief measures. The new legislation included several amendments to the Administrative Code of the City of New York (the “Code”) that affect commercial landlords and tenants, including N.Y.C. Council Int. No. 1932-A (“Local Law 1932-A”)...

COVID-19 and E-Commerce are Changing Retailers' Real Estate Footprints
Hunton Andrews Kurth LLP, May 2020

The COVID-19 pandemic has driven a large shift toward online retail transactions. In April of 2020, nonstore sales, mostly conducted through e-commerce, increased by nearly 30 percent while overall retail sales in the US are down 16 percent year over year, according to the Department of Commerce. The recent flood of e-commerce has left unprepared retailers struggling to fulfill orders, as they currently lack the requisite warehouse space and other supply chain capabilities...

Insurance Recovery During the COVID-19 Pandemic: Navigating Your Policy's Microbe and Pollution Exclusions
Haynes and Boone, LLP, May 2020

As corporate policyholders continue to submit claims to their insurers for business interruption and related losses sustained from the COVID-19 pandemic, insurers appear to be denying such claims routinely where the policies at issue contain exclusionary language specific to viruses — whether in stand-alone virus exclusions or other types of exclusions...

Subchapter V and the Single Asset Real Estate Debtor in a COVID-19 World
Spilman Thomas & Battle, PLLC, May 2020

Over a year ago, Congress amended the Bankruptcy Code to create Subchapter V, with the intent of encouraging small businesses (defined as those with less than $2,725,625.00 in debt) to file reorganization plans more often by saving certain costs of a routine Chapter 11. Congress then passed the CARES Act in response to the COVID-19 pandemic, raising the debt limit to $7,500,000.00...

Removal Ruling Raises Questions about Where COVID-19-Related Business Interruption Claims Should be Heard
Dinsmore & Shohl LLP, May 2020

Business interruption insurance claims related to the COVID-19 pandemic have raised numerous questions for practitioners, businesses, and insurers...

Court Tosses Patent Attorney’s Qui Tam Based on Patent Appeal Board Decision, Calls it Quintessential ’Parasitic Lawsuit’
Dinsmore & Shohl LLP, May 2020

In Silbersher v. Valeant Pharmaceuticals International, Inc., the U.S. District Court for the Northern District of California dismissed a False Claims Act (FCA) qui tam lawsuit the court found was based largely on a Patent Trial and Appeal Board (PTAB) decision and thus violated the public disclosure bar. No. 3:18-cv-01496-JD, 2020 U.S. Dist. LEXIS 82548, at *22–27 (N.D. Cal. May 11, 2020)...

New Development in Insurance Regime: Insurance Amendment Bill and Insurance Amendment (No. 2) Bill
Deacons, May 2020

Two new bills, the Insurance Amendment Bill and the Insurance Amendment (No. 2) Bill have recently been gazetted making significant changes to the regulatory regime for insurance companies. Insurance Amendment Bill Special purpose insurer An amendment is made to allow registration of an insurance company which engages in special purpose business only...

Recent Conflict of Interest Cases Reveal Pitfalls for Land Use Practitioners
Hanson Bridgett LLP, May 2020

Key Points City council and planning commission recusals can have a significant impact on the outcome of hearings involving land use and environmental issues. Recusals can lead to tie votes or the loss of a quorum, which may make it impossible for local governments to approve development projects. Failing to disclose conflicts of interests can be grounds for reversing local government approvals...

Juggling the Costs of Reopening and Litigation: Try Mediation
Verrill, May 2020

State governments are creating paths to restart their economies. Businesses desperately want to start generating income and put the COVID-19 crisis behind them...

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...

Buchalter COVID-19 Client Alert: Extension of San Francisco Commercial Tenant Eviction Moratorium and Impact of Proposed California Senate Bill 939
Buchalter, May 2020

On May 14, 2020, San Francisco Mayor London Breed issued a second extension of the City’s commercial eviction moratorium and rent deferral program for small businesses with less than $25 Million in 2019 gross receipts. The extension grants rent relief for rent due and payable through June 16, 2020. On April 15, 2020, Mayor Breed previously extended the original order through May 17, 2020...

New York State Trial Court Holds That Moratorium on Foreclosures Does Not Bar UCC Foreclosure
Haynes and Boone, LLP, May 2020

In a decision issued on Monday, May 18, 2020, Justice Frank P. Nervo of the Supreme Court of the State of New York, New York County, held that a UCC foreclosure pursuant to Article 9 was not barred by New York State’s moratorium on foreclosures of commercial real property...

Consequences of Tenancy Law due to the Current Situation Regarding Covid-19
DORDA, May 2020

The government has introduced a comprehensive package of measures to combat Covid-19 ("corona virus") since March 13, 2020. These measures include, in particular, the ordered closure, in particular of shops and restaurants. With the Covid 19 Easing Ordinance , many measures were eased again from May. The following overview therefore deals with some essential questions that arise for tenants and landlords due to the current situation...

Czech Government Approves the Abolition of Real Estate Acquisition Tax UPDATE
Kocian Solc Balastik, May 2020

At its meeting on April 30, 2020, the government approved the abolition of the 4% real estate acquisition tax and related changes in the Income Tax Act. The content of the proposal of the Ministry of Finance is described below. However, there are likely to be some adjustments to this wording as a result of the coalition agreement. According to the media, the change should concern the maintenance of the tax deduction of interest on real estate acquired until the end of 2021...

Covid-19 Measures:Price Moratorium on Rent from Apartments - Rents Cannot be Increased!
Kocian Solc Balastik, May 2020

Price moratorium on rent from apartments - rents cannot be increased! On 24 April 2020, a moratorium on rental prices of apartments, issued by the Ministry of Finance (“MF”) came into force, which was adopted in the form of Government Decree No. 202/2020 Coll. This is a protective measure for tenants, which stipulates that the rent for an apartment cannot be increased for a limited period of time. This price moratorium is related also to Act No. 209/2020 Coll...

How Captives Can Help Fill Pandemic Coverage Gaps
Bradley Arant Boult Cummings LLP, May 2020

An increasing number of captives have been looking at writing business interruption coverage for their owners. They should tread carefully, as doing so without following the correct procedures could have adverse tax implications. The outbreak of COVID-19 has caught many businesses off guard and in need of cash. Some hope their business interruption insurance policies will provide coverage for a loss of income suffered from a slowdown or suspension of operations...

CARES Act and Multifamily Housing
Haynes and Boone, LLP, May 2020

On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The CARES Act, among other things, aims to provide relief to tenants and borrowers who participate in HUD’s housing programs. This alert highlights those provisions that address such multifamily housing...

Impact of Covid-19 on the Rental Housing Market and Latest Trends
Ellex Klavins, May 2020

In order to stem the spread of COVID-19 in Latvia the emergency situation is extended until 9 June 2020. Until then restrictive measures established by the Government that have serious impact on all sectors of the national economy shall be in effect. The rental housing market is no exception and has encountered a sharp drop in rent and significant changes to the situation on the lease market...

How Contractors Can Deal with Delays and Disruptions of Construction Projects Caused by the Covid-19 Pandemic
AELEX, May 2020

The implementation of travel restrictions, lock-downs, stay-at-home orders, and curfews, in an attempt to curtail the spread of the COVID-19 virus, has led to delays in the completion of construction projects. Contractors are thus faced with worrying about the potential implications of such delays...

IRS Issues Cafeteria Plan Relief to Address COVID-19 Pandemic
Hanson Bridgett LLP, May 2020

Key Points Cafeteria plans may permit mid-year election changes prospectively, including health and dependent care FSA contributions, to address effects of COVID-19 pandemic. Grace period for health and dependent care FSAs may be extended through 2020, even for plans that allow carryovers. Employers must notify eligible employees of temporary plan changes, and adopt plan amendments by the end of 2021...

Project Approved Pursuant to SB 35 Streamlining Procedures Survives Court Challenge
Hanson Bridgett LLP, May 2020

Key Points Cupertino Vallco Mall Project clears major hurdle thanks to California court's denial of writ of mandate petition from anti-housing group. Another favorable SB 35 ruling may embolden further use of the procedure for streamlining housing development in California...

COVID-19: Measures Related to Leases and Evictions
Morgan & Morgan, May 2020

Through Executive Decree No. 145 of 1 May 2020 (the “Executive Decree”), enacted in Official Gazette 29,015 of the same date, the Panamanian Government established certain measures related to lease agreements and eviction procedures...

Protocols for the Reactivation of the Construction Sector
Brigard Urrutia, May 2020

The Ministry of Health and Social Protection was given the authority to determine and issue biosecurity protocols to mitigate, control, prevent the spread and properly manage the COVID-19 Coronavirus pandemic. It is necessary to emphasize that all companies that reactivate their work must establish timely channels of communication between the employer and the worker to notify suspicious cases...

Cyprus: Rent Control Law and the COVID-19 Pandemic
Chrysostomides Advocates and Legal Consultants, May 2020

The property rental sector and the relation between Landlords and Tenants could not remain unaffected by the current Covid-19 pandemic, and there is a need to protect Tenants from eviction proceedings due to their inability to pay rent during the pandemic and the period during which emergency lockdown measures are imposed by the Government of Cyprus. Within the framework of this reasoning, the Rent Control Law (Temporary Provisions) of 2020 was entered into force...

 

 

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