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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On March 18, 2020, President Donald Trump signed an executive order invoking and delegating the authorities of the Defense Production Act (DPA) to the secretary of the U.S. Department of Health and Human Services (HHS) to provide critical health and medical resources to respond to the spread of coronavirus (COVID-19). Under the authority of the DPA, HHS can issue "rated orders" compelling businesses to provide health and medical resources in front of all other customer orders, with a short response time...

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PwC offers insight into the impact of Coronavirus (COVID-19) on businesses: COVID-19: What US business leaders should know Additionally, PwC's COVID-19 diagnostic navigator assess the potential impact to your business and gauge your readiness to respond. COVID-19 (coronavirus) presents significant challenges to people and organizations around the globe and the disruption continues to evolve. It’s important that we prepare for, respond to, and ideally emerge stronger from this “new normal.” PwC’s team of specialists collaborated to create a digital assessment to help...

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An increasing number of businesses — even those that have traditionally been financially and operationally sound — are now experiencing unanticipated revenue losses as a result of the coronavirus pandemic.  Companies may find themselves in the unfamiliar position of being out of compliance with financial covenants with lenders, unable to meet financial obligations to vendors, in default of contractual obligations, or in need of financial or restructuring/bankruptcy assistance.  If your company has not previously experienced financial distress, you may not...

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Both the European Securities and Markets Authority (ESMA) and the Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), are closely monitoring the COVID-19 situation and have issued recommendations for fund managers. Facilitate the possibility to work remotely The CSSF recently issued a statement emphasizing that financial sector professionals should take reasonable and appropriate measures to ensure the safety of their staff. It is therefore acceptable, as a precautionary measure, to allow employees to work remotely from home, provided...

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In a very short period of time, the unprecedented coronavirus (COVID-19) pandemic has created extremely difficult economic circumstances for businesses of all shapes and sizes. Federal, state and local governments have moved swiftly to roll out assistance programs to help keep businesses afloat in these trying times. Although there are more programs to come, below is a summary of the existing loan and grant programs of which businesses may consider availing themselves, as well as some practice recommendations for...

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Department of Homeland Security Introduces Flexibility for In-Person I-9 Rules On March 20, 2020, the Department of Homeland Security (DHS) issued an announcement that it will relax the requirement for employers to review employee’s identity and work authorization documents in person and complete Section 2 of the Form I-9. Employers may now inspect Section 2 documents remotely (i.e., over webcam, fax, email, etc.) and obtain, inspect and retain copies of the documents within three business days. CONTINUE READING... AUTHORS: • Sari M. Long,...

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