Throughout Europe governments have sought to support businesses in financial distress due to COVID-19 in three ways – by giving them money, by lending them money and by relieving them of their bills and financial commitments. European governments are doing a mix of all three. To provide a quick and easy guide to what support … Continue Reading
Our colleagues at the Restructuring GlobalView Blog have prepared guides to assist businesses in Belgium, the Czech Republic, France, Italy, Poland, Slovakia, and Spain to understand what financial support packages are available in those countries. These guides provide a country-specific overview of the package, eligibility, how to apply, and when it will be available. Click … Continue Reading
Our colleagues, Hon. John A. Boehner, Karol Denniston, Ed J. Newberry, and Stephen D. Lerner, will be joining the American Bankruptcy Institute (ABI) and FTI Consulting professionals for a webinar deciphering the most recent federal stabilization programs and developments and providing unique and practical advice for business leaders and professionals. The panel will also discuss how … Continue Reading
As world leaders respond to the COVID-19 pandemic, businesses around the world have been forced to adapt. Our colleagues in Germany, Dr. Jens Rinze, Martin H. Falke, Dr. Christian Bleschke, Tanja Weber, Dr. Andreas Fillmann, Markus Schmucker, Jörg Staudenmayer, and Siemer Krümpelmann, have prepared a comprehensive overview of the key legal issues for businesses with … Continue Reading
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020. The CARES Act includes a range of extensive loan and grant programs that are vital to businesses across the country, including some US$500 billion in funding for the Department of Treasury that is expected to … Continue Reading
As world leaders and healthcare professionals respond to the COVID-19 pandemic, businesses around the world have been forced to adapt to new restrictions, unpredictable supply chains and a limited workforce. For medical and pharmaceutical products, demand is high and the efficient movement of inputs is critical. For many other industries, dwindling consumer demand is already … Continue Reading
The outbreak of COVID-19 could be the most significant event to impact the US economy in generations with the potential for ripple effects in the automotive market and supply chain for years to come. Accordingly, OEMs and suppliers from all tiers may need to rethink the supply chain model, from sourcing of raw materials to … Continue Reading
This is a Cross-Post from The Trade Practitioner Blog. Please contact Stacy Swanson and Ludmilla Kasulke with any questions. For additional COVID-19 related legal advice, resources by regions and sectors, and practical support, please visit our Coronavirus COVID-19 resource hub. The coronavirus’ impacts on global shipping are growing every day. While borders around the world generally remain … Continue Reading
On March 25, 2020, the Senate passed on a bipartisan basis the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020. With more than US$2 trillion in total relief and US$350 billion in support for small businesses, this bill, if enacted, would represent the third phase of legislation intended to help families and companies … Continue Reading
As we all wait eagerly to see what will be included in Congress’ most recent economic stimulus plan, companies may be interested to see what stimulus packages are already being offered. A list is here. If you hear of others, let us know!… Continue Reading
The impact of the COVID-19 pandemic on the global economy needs not restating. The saying “desperate times call for desperate measures” fits the current environment well. Governments throughout the world have instituted or are considering unprecedented measures to keep up with the demand for the medical products necessary to combat COVID-19. Several such developments come … Continue Reading
What has changed? Up to now, European Governments have followed an approach to tackling Coronavirus based on three main elements: closing down the main public interactions (retail, hospitality, sports) except those necessary for food and healthcare; encouraging/requiring people to work remotely where they can, and to stay away from work if not essential; and social … Continue Reading
This week, we anticipate that states and municipalities will likely issue a number of “stay-at-home orders” that will require the temporary closure of businesses not deemed “essential.” Ohio just put such an order in place, for example. Unfortunately, to date, the direction to stay at home is not being directed by the federal government or … Continue Reading
On March 18, 2020, President Trump issued an Executive Order on prioritizing and allocating health and medical resources to respond to the spread of COVID-19 in the US, citing the Defense Production Act of 1950 (DPA), as amended (50 U.S.C. 4501 et seq.). The DPA confers on the President, and his administration, a broad set … Continue Reading
With the rapid spread of coronavirus disease 2019 (COVID-19), commonly known as the “coronavirus” or COVID-19, lawmakers are proposing and voting on policies to aid people and industries affected by the virus. Several legislative packages have already been enacted, and our elected officials continue to negotiate bills to assist our communities and economy. Our colleagues … Continue Reading
This is a Cross-Post from The Trade Practitioner Blog. Please contact our colleagues in the Washington DC office, Ludmilla Kasulke and Stacy Swanson, with any questions. The coronavirus outbreak has caused severe, but widely varying disruptions across the US economy, including increased consumer demand of particular goods, reduced production due to lack of key inputs from … Continue Reading
Companies are asking whether, in the context of coronavirus disease 2019 (COVID-19) lockdowns, their business counts as an “essential service”. Our colleague Matthew Kirk has prepared a client advisory that addresses this issue from a European perspective, gives a little background to what we see of governments’ approaches to this question so far, and suggests … Continue Reading
“The problem in public life is learning to overcome terror…” ― Gabriel García Márquez, Love in the Time of Cholera There is significant information circulating about how businesses should respond to COVID-19 and overcome the fear and uncertainty about the virus and what comes next. It is easy to find articles about important matters regarding how to … Continue Reading
The globalization of business, combined with the rapid spread of the coronavirus disease 2019 (COVID-19), commonly referred to as the “coronavirus,” renders multinational corporations highly susceptible to litigation in US courts. US companies that have been damaged by COVID-19 issues will likely seek redress through litigation, and foreign businesses operating in the US must be … Continue Reading
Our colleague in our Birmingham office, has prepared a detailed update of coronavirus related insurance issues for UK businesses and insurers. Earlier this week we looked at the effect that Coronavirus may be having on events cancellation, travel and personal accident insurances. However, businesses should now consult with their professional advisers and insurance managers over the … Continue Reading
The situation concerning the novel coronavirus (officially known as COVID-19) is rapidly evolving. The landscape of the virus’ spread and its impacts continues to change dramatically, with hundreds, sometimes thousands, of new cases being confirmed every day and new countries—far from the likely origin of the virus in Wuhan, China—being added to the map of the virus’ … Continue Reading
In a prior client advisory on the legal implications of coronavirus disease 2019 (“COVID-19”) in China, we explored employment, force majeure, data privacy, tax and other issues. Our colleague in our Shanghai office, Daniel F. Roules, has prepared a supplemental client advisory, identifying specific supply chain issues that are arising from COVID-19. As China is … Continue Reading
Our colleague in our Birmingham office, Mariyam Harunah, has prepared an update on the effects of coronavirus related event cancellations for insurers. Last week, the insurer Hiscox confirmed that it has begun to receive notifications of coronavirus related claims. Hiscox has said that it is still too early for it to determine the potential impact of … Continue Reading
