April 8, 2020 “Beyond differences and geographical boundaries there lies a common interest,” one of the EU’s founding fathers, Jean Monnet, once said. In the fight against COVID-19, questions are being raised where that common interest lies. Ten weeks into the coronavirus outbreak in Europe, EU Finance Ministers met last night via videoconference to devise a coordinated plan to restart Europe’s economy. Yet, two weeks after being tasked with bringing forward concrete solutions by the EU Heads of State and Government,...

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April 3, 2020 As the United States and the rest of the world battle the COVID-19 pandemic, companies across multiple industries have struggled to quickly adapt: They are facing un-meetable contractual deadlines or other requirements and having to shutter some or all of their business activities, conduct furloughs or reductions in force, cancel events and issue refunds. These companies face potential lawsuits from customers, clients and investors, and have and will continue to undergo extensive financial losses as a result of quarantines...

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April 6, 2020 1. The new measures adopted by the European Commission Last Friday, the European Commission (“Commission”) has adopted an amendment to existing State aid rules to widen the perimeter of the national measures which can be authorized based on the exceptional legal framework to cope with the current crisis. In particular, the Commission considered the following measures: CONTINUE READING... Contact: FABIO ILACQUA Partner – Head of New York Office GOP USA, LLC - One Rockefeller Plaza, Suite 1610, New York, NY 10020 Tel.: +1 212 957 9600 E-mail: filacqua@gop.it Compliments...

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April 3, 2020 As the COVID-19 crisis continues, many employers are facing the difficult challenge of determining how to achieve significant cost reductions due to a sudden reduction in revenue. Many companies are now going through the unfortunate and difficult process of determining how to achieve significant cost reductions as a result of the sudden reduction of revenue resulting from the current shelter-in-place environment caused by the COVID-19 pandemic. Set out below is a useful list of compensation and benefits-related actions...

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April 3, 2020 • Extraordinary Board of Directors discussed the EIB Group’s proposed response to economic effects of COVID-19 crisis: a €25 billion pan-European guarantee fund to support up to €200 billion for the European economy • The Board also approved key elements of an emergency measure package announced in March The Board of Directors of the European Investment Bank (EIB) today discussed the creation of a €25 billion guarantee fund to enable the EIB Group to scale up its support for companies...

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April 2, 2020 Fashion companies are faced with new challenges affecting their supply chains unlike any before. With the unprecedented impacts of COVID-19, retailers and suppliers have to choose whether to cooperate under these new circumstances to preserve partnerships, or instead think of their own survival in the short term, no matter the cost. Peter Maerevoet, global chief financial officer and senior executive officer at financial firm Tradewind, places his confidence in trust and collaboration between retailers and suppliers as...

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April 2, 2020 In my last blog post, I floated the idea that social distancing is not the right term for what is happening during the COVID-19 pandemic. It would be more accurate to say that we are physically distancing and socially connecting. As a Doctor of Psychology, as well as a communications executive with over 30 years in business, I advise companies through periods of massive change. Earlier this week, I appeared on a panel in front of a group...

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April 6, 2020 On 2 April 2020, the Court of Justice of the European Union (“CJEU”) rendered a judgment (C-567/18) clarifying the potential liability of Amazon and other operators of online platforms for trade mark infringement.  The Court was asked to rule on the question of whether Amazon had infringed Coty's trade mark rights by storing and shipping infringing bottles of ‘Davidoff Hot Water’ perfume, which were offered for sale on the site not by Amazon but by third-party sellers. In this regard,...

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Almost as soon as the COVID-19 outbreak began, public officials and media outlets raised concerns over price gouging. While price-gouging statutes and regulations are not new, they are invoked rarely because they apply only in the event of emergency or abnormal market disruption. Now, with the nation facing the COVID-19 crisis and the federal government and all 50 states declaring states of emergency, price-gouging regulation has come to the forefront, and federal authorities have leaned on their power to...

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