In 2020, the EIB Group supported 27 operations in Portugal for a total volume of more than €2.3 billion, an increase of 44% compared to 2019. Portugal was the 4th EU country benefiting the most from EU bank’s support as a percentage of GDP and it ranks 9th in absolute terms. 56% of total EIB Group lending activity in the country was for COVID-19-related projects. Portugal was the 4thlargest beneficiary of the EIB Group’s financial support for small and medium-sized...

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On February 8, in light of recent market volatility in the options and equities markets, the Division of Corporation Finance (Division) of the U.S. Securities and Exchange Commission (Commission) published guidance for issuers seeking to raise capital during times of extreme price volatility. While recognizing the importance of capital formation, even during times when an issuer’s own securities are experiencing extreme price volatility, the Division cautioned that such price volatility can create risks for both the issuer and its investors. The...

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The Court of Justice of the EU ("CJEU") has established in case law that a parent company can be held liable for its subsidiary's competition law infringements. This applies if the parent company exercises decisive control over the subsidiary regarding the relevant activities. The CJEU ruled in the Akzo case that there is a rebuttable presumption that a parent company exercises decisive influence when it directly or indirectly holds all or almost all of a subsidiary's share capital. To rebut the presumption,...

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Under the new U.S. administration, major changes are expected in the field of business immigration, which is the branch of U.S. immigration law regarding investor and employment-based visas. Although some of the most significant reforms, such as the introduction of a start-up visa or the removal of cap-numbers on H1-B specialty occupations visas, will need to be approved by the U.S. Congress, foreign companies, investors, and individuals with extraordinary abilities will already enjoy a friendlier environment in light of...

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The COVID-19 pandemic is one of the biggest global challenges of the last 50 years. The unprecedented global health crisis has caused significant economic challenges for both businesses and consumers. Technology and science is at the forefront of the medical response to combat the virus. Outside of the medical sector, the social distancing measures and lockdown restrictions have also accelerated a general market trend of digital innovation and digitalisation in society that many are calling the ‘new normal’. Technology is...

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During 2020 many small, and even not-so small, businesses applied for and received Paycheck Protection Program (PPP) loans which, if spent on certain permitted expenditures, are forgivable and essentially become a form of government grant. Under the PPP law, loan forgiveness is not automatic.  A borrower who wants to have their loan forgiven must apply for forgiveness within 10 months of the end of their loan’s “covered period,” which is generally no more than 24 weeks after their loan was...

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In this week’s global freight updates, we’ve got harbor truck disputes, increasing congestion and delays, shipping container accidents, and more. As pandemic-driven import volumes continue to overwhelm ports worldwide, the resulting supply chain stressors are exposing the cracks underneath the surface and further escalating detention and demurrage charges in the trucking industry. Despite efforts on the FMC’s part to ensure that carriers aren’t taking advantage of the current situation, the organization’s inability to legally create new regulation has allowed most supply chain...

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