Tag Archives: Europe

How well prepared are Ireland’s banks for COVID-19?

Going into the pandemic recession banks are assessing their position. Brian McEnery and Harry Fehily crunch the figures

In brief: Irish banks seem to be in a better position facing into the current pandemic crisis as compared to their position entering the 2008 Global Financial Crisis. A number of strategies and policies will assist the Irish banks to weather the storm and assist our economy.

Where is the banking sector now compared to the 2008 Global Financial Crisis?

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Time Does Not Stand Still for Litigants

In light of the ongoing coronavirus pandemic, with many law firms working remotely and going “virtual”, as well as the Irish Court system being effectively closed, save for urgent matters, legal practitioners and their clients should be particularly mindful of the consequences of delay in relation to progressing legal proceedings.

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ILN Today Post

Covid-19 in Latvia: Updates in regulatory enactments

General

  • As of 15 May 2020, the Baltic States resumed their international passenger air, sea, bus, and rail services.
  • Transport and passenger transport service providers and passengers, cargo or technical flight crew, performing their work duties or seafarers going to their jobs on board or returning therefrom, as well as foreigners, where the need to bring them into Latvia for compliance of the obligations of merchants has been confirmed by the Latvian Investment and Development Agency, are allowed to cross the external and internal borders of the European Union in the territory of Latvia.
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ILN Today Post

Covid-19 in Latvia: State of Emergency extended until 9 June 2020

General

  • From 12 May 2020, it is allowed to hold public events both indoors and outdoors, by observing distance of 2 meters. The number of participants in the event may not exceed 25 people, and the maximum duration of the event shall be 3 hours;
  • Mouth and nose cover shall be worn when using public transport;
  • From 12 May 2020, museums, libraries, the National Archive will be able to gradually resume operations, the same applies to cultural events that can be observed from personal auto transport (drive-in events);
  • The shopping centres can be open on weekends and holidays;
  • From 12 May 2020, it is allowed to organize tourism services for travel only in Latvia, Lithuania, and Estonia.
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The Supreme Court encourages courts to follow his example and hold trials online

In view of the ruling of the Presidium of the Supreme Court of the Russian Federation and the Presidium of the Council of Judges of the Russian Federation from March 18, 20201 Russian courts have been working in a new “self-isolated” regime for just over a month. Personal reception of citizens in courts is suspended, it is recommended to submit documents through electronic reception of courts, and courts are considering only certain categories of cases.

The Supreme Court has already drawn up the results of the first month of work in the new regime2. From March 18 to April 20, 2020 the courts received 225.2 thousand documents in electronic form – this is one and a half times or 77.3 thousand documents more than for the same period of the previous year. More than 286 million times, citizens have used the state automation system “Pravosudiye” (Justice). Also by the end of May a system of online familiarization with case materials is planned to be introduced in all commercial courts of all instances3.

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Employers Liability during COVID 19

Robert Kennedy, partner offers some practical guidance about likely employers’ liability claims that may stem from the coronavirus and highlight the key elements of such a claim, including employers duties, risk assessments and causation.

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Business Interruption & COVID-19: What risks are covered?

Considering widespread business closures, Michael Murphy takes an in-depth look at the impact of COVID-19 on business interruption insurance with a focus upon the following specific issues:

  1. Why this is such a key issue for insurers and policyholders?
  2. Are you entitled to claim for your business interruption losses?
  3. How do insurers reach their determinations on such claims?
  4. What do you do if you disagree with the insurer’s determination?
  5. Can insurers be forced to pay out for these business interruption losses?
  6. What is going to happen on these issues going forward?
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Steel producer operating in Italy struggles to protect its activities

Steel producer operating in Italy struggles to protect its activities
Authors: Giorgio Cherubini, Giancarlo Cherubini The article published in INSOL Europe’s Eurofenix magazine examines the…
Giorgio Cherubini
Giancarlo Cherubini
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Corrections to the moratorium

At the beginning of the month Russian regulators implemented a draft law, which provides for the possibility of the Government of the Russian Federation by its act to introduce a moratorium on initiation of bankruptcy proceedings under natural and man-made emergencies, significant changes in the ruble exchange rate and similar exceptional circumstances (for more details see the update). The moratorium on bankruptcy has been in force in Russia since April 4, but now the Law on Bankruptcy is being corrected again. The need for amendments is due to the rushed adoption of the Law, as well as the reaction to criticism from the professional community The law providing for the amendment was signed by the President of the Russian Federation and comes into force on April 24. In particular, the new law establishes the following changes to the regime of the moratorium on bankruptcy.

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ILN Today Post

Amendments to the procedure for granting idle time benefits

Today, on 23 April 2020, the Cabinet of Ministers amended the criteria for granting idle time benefits. The most essential amendments:

  • the reduction in turnover for any undertaking affected by the crisis shall be calculated by comparing the turnover in March or April 2020 with the average income from economic activity for the months worked in 2019;
  • self-employed persons who perform pedagogical or creative work on a part-time basis and whose monthly income does not exceed the minimum wage are eligible for idle time benefit;
  • idle time benefit shall not be granted to members of management board if during the preceding year and at the time of assessment of the application the member of the management board has been punished for violations in the areas of tax and customs or for the breach of the regulatory enactments governing labour legal relationship, unless a warning or a fine not exceeding EUR 151 has been imposed for a single violation, and the total amount of penalties per year does not exceed EUR 500.
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