Member News

Littler: Bouncing Back – A List of Statewide Return to Work Protocols

Updated July 13 | Government officials across the country are easing up, or preparing to ease up, on the stringent business closures and stay at home orders that helped the nation successfully slow the spread of COVID-19. Each jurisdiction will emerge from this collective state of suspended animation by implementing different measures, and on different timetables. In many instances, businesses can expect two types of guidance from their governors and public health officials: (1) overarching framework materials, setting forth various phases of the...

Read more

Chapter News

EACCNY #COVID19 Impact Stories from Our Members – Mach Media

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Cameron Heffernan, Director of North America, Mach Media a EACCNY member. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have faced? 2)...

Read more

Member News

ShearmanSterling: IMF COVID-19 Crisis Funding: An Opportunity to Fight Corruption

By Partner Brian Burke and associate Abdallah Salam (both New York-Litigation) authored this article for the International Bar Association’s Anti-Corruption Committee’s e-bulletin. The article discusses whether and how the International Monetary Fund (IMF) can extract anti-corruption enhancements from countries seeking COVID-19 funding. Unprecedented IMF leverage A record number of over 90 countries have requested financial assistance from the International Monetary Fund (IMF) to cope with the Covid-19 pandemic and its colossal economic impact. In response, the IMF has pledged to place its...

Read more

Chapter News

“Team Europe” global response to COVID-19: Council welcomes the mobilisation of almost €36 billion and approves conclusions

June 08, 2020 | The Council approved conclusions on the "Team Europe" package that is part of the EU's global response to the COVID-19 pandemic. In its conclusions the Council expresses its deep concern about the global spread of the COVID‑19 pandemic, which continues to claim lives worldwide and have far-reaching social and economic effects. The Council stresses the urgency of protecting the lives and livelihoods of all people, leaving no-one behind, and of prioritising efforts in partner countries that are most in need. In light of that the Council fully supports the "Team Europe" approach and welcomes the announcement that...

Read more

Chapter News

New studies on upgrading the gas market in the context of the European Green Deal

June 05, 2020 | Well-functioning and liquid gas markets are a prerequisite for ensuring affordable energy for consumers, competitiveness of industries, and security of supply. They also play a role in achieving the environmental ambitions of the European Green Deal, which foresees the decarbonisation of the gas sector via a forward-looking design for a competitive decarbonised gas market. To support the reflections on the possible need to enhance the EU regulatory framework for gas markets in the context of the European...

Read more

Chapter News

EU structural financial indicators: end of 2019

June 08, 2020 | • Further decline – by 6.3% on average – in number of bank branches in most EU Member States • Number of bank employees also continued to fall by 0.9% on average • Share of total assets of the five largest banks, at national level, ranged from 28% to 97% The European Central Bank (ECB) has updated its dataset of structural financial indicators for the banking sector in the European Union (EU) for the end of 2019. This annual...

Read more

Member News

NautaDutilh: Lower Chamber of Dutch Parliament approves proposal for a Dutch scheme

May 26, 2020 | The Lower Chamber of the Dutch Parliament voted in favour of the proposed Act on Confirmation of an Extrajudicial Restructuring Plan ("CERP"), commonly referred to as a 'Dutch scheme' or WHOA (after its Dutch name 'Wet Homologatie Onderhands Akkoord'), on Tuesday 26 May. The bill, which was earmarked by the Dutch government as urgent in view of the impact of COVID-19 on many businesses, will now be sent to the Upper Chamber of Parliament for its...

Read more

Member News

CLA: Navigating the Main Street Lending Program

May 11, 2020 | Key Insights: • There are three loan facilities available as part of the Main Street Lending Program. • The three facilities have some similarities, but also some key differences to consider. • Organizations can start preparing their strategy for application to the program now. On April 30, 2020, the Federal Reserve released term sheets and a frequently asked questions (FAQ) document as it announced an expanded scope for its Main Street Lending Program (MSLP). In response to more than 2,200...

Read more

Member News

RSM: Bill would loosen restrictions in Paycheck Protection Program, making loan forgiveness easier

May 29, 2020 | In a bipartisan vote, the House of Representatives passed the Paycheck Protection Program Flexibility Act on May 28, loosening some restrictions on borrowers and making it easier to qualify for loan forgiveness. Under the bill, businesses would be given more time to use the loans and greater flexibility to make needed expenditures and still qualify for forgiveness. The bill was approved, 417-1, and now goes to the Senate. Where the program stands Almost 4.5 million loans totaling $511 billion had...

Read more

Member News

GTLaw: Congress Passes the PPP Flexibility Act

June 03, 2020 | On June 3, 2020, Congress passed the PPP Flexibility Act to loosen requirements for loan forgiveness for CARES Act Paycheck Protection Program (PPP) borrowers. The new forgiveness rules will allow borrowers to extend the period for spending the loan proceeds to 24 weeks from the date of disbursement, an increase from the eight-week period originally required. The PPP program will be extended from June 30, 2020, to Dec. 31, 2020. The loan application cutoff date, however, remains...

Read more