After much anticipation, the Board of Governors of the Federal Reserve (“Federal Reserve”) on April 9, 2020 announced additional actions “using its full range of authorities” to provide US$2.3 trillion of credit to a wide variety of business enterprises, States and municipalities. The Federal Reserve’s actions in support of existing and new programs, as described … Continue Reading
Countries around the world continue to enact policies aimed at mitigating the spread of COVID-19 that both recognize the importance of trade to their respective economies, but also seek to address domestic demand for key goods – especially medical supplies – related to the crisis. Similarly, some recent government policies around the world have shifted … Continue Reading
As the COVID-19 pandemic continues, many businesses are manufacturing essential public health and/or medical supplies that are now in high demand. Companies around the world—from global luxury brands like Dior and Givenchy to local distilleries throughout the United States—have been switching their alcohol-based product lines from the manufacturing of products such as perfume and spirits … Continue Reading
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 Frank Samolis, Rory Murphy, 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 … 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
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
