On 15 March 2020, the Norwegian government presented their proposal for new loan and guarantee schemes in the total amount of NOK 100 billion, to strengthen Norwegian companies' liquidity during the Covid-19 outbreak. The proposal includes: A NOK 50 billion funding which will be applied to issue guarantees in favour of banks as security for new loans granted to small and medium sized companies ...
Following the publication of the proposal a few days ago, on 19 March the European Commission adopted the communication introducing a new temporary legal framework for State aid measures to support the economy in the current COVID-19 outbreak1. The last time the Commission had adopted a similar temporary framework was during the global financial crisis in 2008 ...
To create the most favorable environment for the intensive development of the IT industry and pooling resources for the new projects, the Russian Government has adopted a Law introducing a number of changes and tax incentives for the IT and Technology Companies. It will be effective starting from January 1st, 2021. Below, we provide our consolidated analysis of the new rules and recommendations on steps to be taken to prepare for the forthcoming changes ...
STATUS QUO (ON MARCH 18, 2020) The Europe-wide spread of the coronavirus (COVID-19) is now also directly affecting the professional sports sector. As a consequence, there are not only games that are being played without fans and soccer leagues suspended from the Bundesliga all the way down to the 3rddivision, but even entire remaining seasons (including of the German Ice Hockey League and the German Volleyball League) have been canceled ...
The impact of the coronavirus raises a number of questions for landlords and tenants of commercial property. This article considers the most frequent questions we are asked. Can I claim a reduction in rent if I am unable to use my premises? In most cases you will not be able to claim a reduction in rent ...
The coronavirus (COVID-2019)[1], which today affects more than 150 countries and territories around the world, has already had, and continues to have, a significant impact on the global economy ...
The negative impact of COVID-19 across the social and economic spectrum is undeniable. We reflect on the findings from the Social Mobility Commission and consider how employers can help give a much-needed boost to social mobility moving forwards. Research recently published by the Social Mobility Commission has given a snapshot of public perceptions of where and whom the pandemic has impacted most ...
Our latest article in the series looking at the impact of the pandemic on different groups focuses on how COVID-19 has affected those within ethnic minorities, what this has meant for the BLM movement and what employers can do to better support employees. Impact of COVID-19 The latest statistics all point to the fact that the COVID-19 pandemic has disproportionately affected those within ethnic minorities ...
The most general reason for setting up a trust is to ensure the effective and professional legal protection of assets. Contrary to a private foundation, there is no legal requirement to set forth a specific objective for the trust ...
Article previously published in insider.co.uk Why are we not treating climate change like the pandemic? The COVID-19 pandemic has received 24/7 media coverage across the globe, and with good reason. Coronavirus has had a catastrophic impact, claiming the lives of hundreds of thousands of people, devastating our economies and materially changing the lives of millions as we try to adapt to the profound societal changes it has inflicted ...
Covid-19 makes it difficult for shareholders and members to attend annual general meetings in limited liability companies and other legal forms of association. Shareholders might belong to a risk group or having difficulties to travel to the place where the meeting is held. A limited liability company or association may not refrain from holding the annual general meeting or to postpone further than the last permitted date (six months after the end of the financial year) ...
The Government has approved Royal Decree-Law 7/2020, of March 12, which adopts urgent measures to respond to the economic impact of COVID-19, including measures in the workplace for officials and a bonus for companies. tourism that prolongs the employment of discontinuous permanent workers. Likewise, employers and unions have agreed on a joint proposal document for the coronavirus crisis ...
COVID-19 has forced us to completely rethink the way we live, work and move around. It has begged the question: what is it that makes a great city? Manchester is one of the fastest-growing cities in the UK. With cranes dominating the skyline, billions continue to be invested into the city centre as it evolves into a city of quarters ...
At the beginning of the pandemic, businesses had to rapidly adopt new ways of working and enable staff to work from home as much as possible. Nine months on, the threats posed by the virus remain, and ways of working have changed beyond recognition. We consider below the longer term impact of COVID-19 on flexible working, and the extent to which employees are willing (or not) to return to their ‘normal’ place of work ...
Comment from Paula Swain, Partner National Head of Commercial Recoveries and Head of the Solent office for Shoosmiths, Paula is also a Director with the Solent LEP and was part of the Freeport taskforce which was successful in its bid ...
Aware of the political and economic challenges facing by the European Union, the European Commission has decided to act swiftly as part of its task of monitoring state aids under Articles 107et seq.of the Treaty on the Functioning of the European Union, which require Member States to notify, prior to their implementation, measures that are likely to distort competition within the EU ...
The new measures adopted by the European Commission Last Friday, the European Commission (“Commission”) has adopted an amendment to existing State aid rules to widen the perimeter of the national measures which can be authorized based on the exceptional legal framework to cope with the current crisis. a. In particular, the Commission considered the following measures:a. More support for research and development related to the current health crisis ...
On Friday 4 June 2021, a new Ministerial Decree was published in the Belgian State Gazette that includes new provisions regarding telework. For the time being, telework remains compulsory and employers remain obliged to register their non-teleworkable positions with the National Social Security Office (NSSO) and to provide workers whose presence at the workplace is needed with a certificate confirming this fact ...
The extensive global COVID-19 pandemic determined the states to impose restrictive measures with impact over the free movement of people and usual course of business of the economic operators. Due to the recent development of the outbreak in Romania, the Presidential Decree no. 195/16.03 ...
Considering the state of emergency declared in the Republic of Latvia as a result of the spread of the Covid-19 infection, we have summarized the most important matters to be considered by employers at this time ...
Tourism and event industries are suffering and it is expected that manufacturing enterprises will soon be affected as well. Short-time work can provide a remedy and reduce the economic consequences of the coronavirus for employers and employees ...
SVW has, across its offices, been giving guidance to clients both under English and Norwegian law as to the Coronavirus impact on shipping contracts, including on force majeure and similar exceptions clauses, and contract frustration. Read our recent publication, touching upon these issues. The Covid19 Virus Only two months have passed since the novel coronavirus was detected in Wuhan, China ...
On 4 May 2020, the Commission published the latest package of exceptional measures (announced on 22 April) to support the agricultural and food sectors that have been hit hardest by the crisis. The package of measures adopted by the Commission includes temporary derogations from EU competition rules for milk, flowers and potatoes, support for private storage of dairy and meat products and flexibility in the application of market support programs ...
In a previous article we emphasised the importance of ensuring compliance with the competition rules even during an economic crisis – there are inter alia strict rules on cooperation between competitors. The outbreak of Covid-19 has led to a shortage of certain healthcare products ...
