Monthly Archives: June 2020

Lidings lawyers have defended client against a criminal charge worth over 60 million rubles

Lawyers of the Lidings’ Criminal Defense Practice have successfully defended client charged with tax evasion (for 60 million rubles) and large-scale fraud (for 10 million rubles). The project lasted more than two and a half years led by the firm’s partner and attorney Stepan Guzey. Despite intense opposition from the Prosecutor’s Office of Novgorod Region and introduction of restrictions to combat the spread of COVID-19 the criminal case was terminated during pre-trial investigation.

In August-November 2017, the Investigative Department for the City of Velikiy Novgorod commenced criminal proceedings against the CEO of the client, a major regional supplier of agricultural machinery, the company OOO Avtopromash. Legal grounds for the commencement were Part 2 of Article 199 of the Criminal Code of the Russian Federation (large-scale tax evasion) and under Part 4 of Article 159 of the Criminal Code (large-scale fraud).

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No Quarter for PPP Lenders

Much ink has been spilled in recent weeks about how some recipients of Paycheck Protection Program (“PPP”) relief obtained their loans through mistakes or false pretenses. Now banks are coming under fire for their lending practices in connection with this hastily prepared and implemented program, which left them grappling with how to properly issue loans in the face of procedural and substantive gaps in the law. Many lenders tried to fill these gaps by supplementing the PPP application to address practical concerns not covered in the law. Two recent cases, however, demonstrate that banks may face legal exposure for supplementing the applicant eligibility requirements published by the Small Business Association (“SBA”). Prudent lenders would do well to consider with counsel the best ways to avoid becoming entangled in such matters.

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ILN Today Post

CSA ANNOUNCES AMENDMENTS TO REGULATORY FRAMEWORK FOR AT-THE-MARKET DISTRIBUTIONS

On June 4, 2020, as part of its effort to reduce the regulatory burden, the Canadian Securities Administrators (the “CSA“) announced amendments coming into effect on August 31, 2020 (the “Amendments“) to the regulatory framework for at-the-market (“ATM“) distributions. Among other things, the Amendments will eliminate the requirement to obtain exemptive relief from securities regulatory authorities and will streamline the process for conducting an ATM distribution. In particular, the Amendments:

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Explanations of the Constitutional court regarding the conclusion of fixed-term employment contracts with persons who are employed to perform certain work

In its recent Ruling1, the Russian Constitutional court clarified the provisions of the Labor Code regarding the conclusion of a fixed-term employment contract with persons who are employed to perform certain work when the date of completion of work cannot be determined by a specific date (paragraph 8, part 1 of article 59 of the Labor Code).

A private security company concluded an employment contract with its employee for 1 year. Employee’s job duties were based on security services agreements concluded by the employer with its clients. At the end of each term, the employer signed new employment contracts with the employee for each subsequent calendar year with a period of validity from January 1 to December 31. The employer justified this approach by the fact that contracts with counter-parties were limited by a certain period of service provision, which causes the conclusion of a fixed-term employment contract with an employee in accordance with paragraph 8, part 1 of article 59 of the Labor Code.

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ILN Today Post

Paycheck Protection Program Flexibility Act passes Senate

On June 3, 2020, the Senate approved the Paycheck Protection Flexibility Act of 2020 (H.R. 7010), legislation the House passed on May 28 that makes significant changes to the Paycheck Protection Program (PPP). The Paycheck Protection Flexibility Act is  designed to make it easier for borrowers to obtain PPP loan forgiveness and intended to relax requirements and increase access for small businesses seeking emergency funding under the PPP. Click here for an overview of the most significant changes.

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More Flexibility Added to the Paycheck Protection Program

On Friday, June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Act”), which relaxes various rules under the Coronavirus Aid, Relief, and Economic Security Act’s (the “CARES Act”) $670 billion Paycheck Protection Program (the “PPP” or “Program”) managed by the U.S. Small Business Administration (“SBA”). The PPP provides forgivable loans to small businesses to keep their workers on the payroll during the COVID-19 pandemic.

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Will Virtual Jury Trials be part of the “New Normal” Ushered in by the COVID-19 Pandemic?

Just a few months ago, the idea of a virtual jury trial probably seemed inconceivable to most judges and lawyers.  Now, with the COVID-19 pandemic shuttering courthouses throughout the nation and most in-person proceedings suspended, many judges and attorneys are left wondering when and how civil jury trials will be able to safely resume.  We suspect that most prospective jurors will not be enthralled with the idea of sitting shoulder to shoulder in a jury box while the outbreak is still raging.  As litigators and the courts become comfortable with Zoom and other videoconferencing tools, it is apparent that we have the technology to hold virtual trials – the questions is should we?

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Marilyn Piccini Roy’s Work Gets Recognized Again

June 5, 2020 — Marilyn Piccini Roy, Ad. E., TEP, was recently awarded the 2019 Volunteer of the Year award by STEP Canada, a leading association of tax and estate professionals.

She was also re-elected as Secretary of the International Academy of Estate and Trust Law.

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Seeking Procedural Clarity with the Time Limits and Other Periods Act (COVID-19)

By Sydney Warshaw, from our Business Law Practice Group

June 4, 2020 — The Federal Department of Justice recently published the Time Limits and Other Periods Act (COVID-19) as a response to ongoing delays and complications in the wake of the COVID pandemic.

This draft legislation provides for automatic extensions to several federal deadlines. It also gives authorized ministers the powers to extend or suspend the time limits or periods in various federal acts and regulations.

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Are You Tone Deaf?

We don’t have a rainmaking recommendation from Jaimie Field this week, but we do have what amounts to a guest post. It’s a thought-provoking piece on the state of what’s going on in the US at the moment, and the impact that should be having on your firm’s messaging. But more than that, it’s about the impact that it should be having on your firm’s policies and practices moving forward, if it hasn’t already. Now is not the time for empty platitudes and social posts, but the time for real, sustainable change, backed up by engagement and education. We’re certainly not there yet here at the ILN, but we’re digging in and doing our part.

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I really thought about not posting a Rainmaking Recommendation for this week.

I thought that no matter what I posted, it would be considered to be inappropriate for what is occurring in the United States and in the world.  But, after spending the past few days on social media (alternately crying and getting supremely angry), not only because of the actual events that have been happening but also because I am seeing a tremendous number of inappropriate posts that seem to just disregard what is going on, I felt I had to say something.

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