Corporate Law

COVID-19 AND SHAREHOLDERS MEETINGS: NOW WHAT?

We have received several inquiries from clients asking for guidance regarding their shareholders meetings in light of the rapidly evolving novel coronavirus (“COVID-19”) pandemic and the need to socially distance ourselves. With the annual general shareholder meeting (“AGM”) season upon us, this article seeks to provide information relating to (i) the options available for holding AGMs in light of the COVID-19 concerns and (ii) the procedures to be followed in the event that an issuer decides to change the date, time or location of its inperson AGM due to COVID-19. Read more…

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Federal Paid Sick Leave Passed By The Senate California Suspends Warn Act Orange County Reigns In Shelter-In-Place Order

Developments around the COVID-19 pandemic continue to move fast and significant changes in the relevant laws continue to evolve. This Client Alert covers three recent developments, including the passage by the United States Senate of the Families First Coronavirus Response Act, California’s temporary suspension of the California WARN Act, and significant softening of the Orange County Public Health shelter-in-place regulations. As always, we encourage you to reach out to any member of team listed at the end of this Alert with any questions you may have on these fast moving topics. Read more…

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U.S. Federal Government Proposes Various Changes to SBA Loan Programs to Assist Small Businesses Affected by Coronavirus

In light of the economic impact of the COVID-19 pandemic, the federal government has taken steps to expand the availability of, and streamline the process for, obtaining loans administered by the U.S. Small Business Administration (SBA). In addition, further changes are expected as part of a sweeping stimulus package, which is currently under negotiation in Congress. Read more…

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Highlights of Finance Minister’s Press Conference: Reliefs during COVID-19 outbreak

In the midst of the shutdown of businesses all over India to contain the spread of the highly contagious Covid-19 infection, Finance Minister Smt. Nirmala Sitharaman today addressed a press conference on various statutory and regulatory compliance issues and announced a slew of measures for providing relief amid the pandemic outbreak.

The brief highlights of the announcements made by the Finance Minister:

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COVID-19’s impact on the LIBOR transition

LIBOR – the London Interbank Offered Rate – represents the average interest rate at which major banks reasonably expect they can borrow money from each other without putting up collateral. With only 21 months left until the 2021 deadline to transition away from LIBOR, how does COVID-19 impact LIBOR transition plans? READ MORE

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SBA loans available for small businesses suffering due to coronavirus

The United States Small Business Administration (SBA) issued guidelines for how to apply for $2 million in low-interest loans for working capital to small businesses suffering substantial economic injury as a result of the coronavirus (COVID-19). READ MORE

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Initiative by Ministry of Corporate Affairs to contain the spread of COVID-19

As a part of Government of India’s initiative to ensure active preparation to face the challenge and threat posed by the growing pandemic of COVID-19, the Ministry of Corporate Affairs (MCA) has relaxed the rules with respect to meetings of board of directors and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statements, board report, restructuring etc. up to 30th June 2020. Therefore, till 30th June 2020 the companies can convene meeting through video conferencing for approval of financial statement, board report etc. The MCA is further examining any other relaxations under the Companies Act, 2013, that may be necessitated on account of COVID-19.
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Revenue and Irish Banks move to reassure and support customers during COVID-19 crisis

We are living in a time of crisis in a constantly evolving situation which is causing hardship and distress for many SMEs and self-employed contractors. This stress is compounded by financial hardship imposed by the current isolation and social distancing Covid-19 restrictions and their immediate and dramatic effect on businesses.

Revenue are closely monitoring the situation. and On 12th March the Revenue Commissioners implemented certain measures in order to alleviate the situation and to assist small and medium enterprise businesses experiencing cashflow and trading difficulties arising from the impacts of the Covid-19 virus.

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COVID-19: Fremrykning af offentlige investeringer og forudbetaling på offentlige kontrakter

Blandt tiltagene, der skal få Danmark bedst gennem Corona-krisen, præsenterede Regeringen og folketingets øvrige partier den 19. marts 2020 fremrykning af offentlige investeringer samt muligheden for forudbetaling på offentlige kontrakter. Dette skal medvirke til at holde hånden under danske virksomheder under Corona-krisen.

Det er næppe set før i historien, at offentlige myndigheder i forbindelse med indgåelse af offentlige kontrakter nu får mulighed for at forudbetale ydelser fra leverandører – og det helt op til 1 mio. kr. Read more…

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Overview of changes in the case of international coronavirus epidemic

Overview of changes in the case of international coronavirus epidemic
The coronavirus outbreak (hereinafter referred to as “COVID-19”) served as a trigger for a targeted effort to assess and manage the possible effects of COVID-19.
For example, among the most significant measures caused by the threat of COVID-19 proliferation in Russia, the following can be identified:
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