On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus. The Guidance does two key things: 1. Short-term loan modifications granted to borrowers that have become financially distressed as a result of economic conditions created by COVID-19 will not result in a loan being classified...

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Many early stage and emerging growth companies utilize venture lending as a source of funding to compliment equity financing. But what happens to these loans in difficult and uncertain times? Wilson Sonsini has experience in the venture lending markets that goes back more than three decades through multiple economic cycles and we know the active participants in the market well. We have helped both borrowers and lenders through difficult transactions in similar circumstances and we can offer some thoughts...

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Among the many matters the COVID-19 outbreak has disrupted, it has become more challenging for some IP-owners to abide by the strict procedures and deadlines for protecting their intellectual property rights, including trademarks, patents, and industrial designs. International IP offices have responded. We summarize below the current positions of some of the major intellectual property offices on applicable deadlines, in response to the COVID-19 outbreak. Some of these intellectual property offices have modified procedures and deadlines for protection of intellectual...

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The COVID-19 (Coronavirus) pandemic is affecting hundreds of thousands of people and is leading, all over the world, to far-reaching health and safety measures. As a result, the COVID-19 crisis has major social and economic consequences. Measures are being adopted to limit the impact on taxpayers as much as possible. In this EUTA Special Edition we provide an overview of the most important announced measures adopted by the European Commission as well as within our home countries Luxembourg, Belgium, Switzerland...

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There are a few definitions under the word “Crisis” in the dictionary. They include (1) an unstable time and period of change and (2) “an emotionally significant event or radical change of status in a person’s life.” Depending on your personality and disposition, there are a lot of things that could be perceived as significant events or unstable times that cause a period of change. Change is constant and with the hyper-frenetic pace of technology, communications and activity, disruptive events...

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Key Notes: • The increase in teleworking during the COVID-19 crisis creates unique data and infrastructure security challenges that organizations must address. • New teleworking arrangements or increased volume of telework could also require changes to HIPAA documentation. In response to concerns about COVID-19, many organizations are requiring their employees, contractors and other business partners to telework and use remote access technologies to perform their daily work or furnish services. While this may be unavoidable given the current health crisis, permitting access...

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As the Coronavirus pandemic continues to unfold, Congress has continued to act to mitigate the economic consequences. During the past several weeks, there have important legislative developments related to the pandemic that have either already been enacted or are currently in negotiation. Recent federal legislation includes (i) the Coronavirus Preparedness and Response Supplemental Appropriations Act (signed into law on March 6); ii) the Families First Coronavirus Response Act (signed into law on March 18); and iii) the Coronavirus Aid,...

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Many employers are rightfully concerned with how best to manage the business and financial impact and implications of the COVID-19 outbreak and resulting closures and dislocations. Some are considering temporary furloughs of workers as an alternative to terminations or reductions in force (“RIFs”). RPJ is here to counsel clients on employment and business matters in response to this crisis, and they have drafted THIS (full) MEMORANDUM containing a general overview of these employer options and laws that are implicated to be a helpful tool...

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Updated on 3/19/2020. This article has received over 40 million views in the last week. Over 30 translations at the bottom. The next article is ready: Coronavirus, The Hammer and the Dance. If you agree with this article or the next, sign the White House petition. Here’s a list of epidemiologists and experts who have publicly shared or endorsed this article. With everything that’s happening about the Coronavirus, it might be very hard to make a decision of what to do today. Should you...

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Please see below, a message from the Noerr Corona Crisis Center regarding the EU Commission and the creation of a Temporary Framework to combat economic repercussions associated with COVID-19. 1. Background  On 19 March 2020, the European Commission (“Commission”) following consultations with the EU Member States adopted in record time a „Temporary Framework“ for State aid measures to support the economy in the current corona pandemic that identifies the scope of far-reaching rescue schemes Member States will implement for distressed companies. All...

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