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COVID-19 Related News
COVID-19 Related News
09
Dec
Who Needs to Know
Companies and individuals negotiating contracts governed by Delaware law.
Why It Matters
In a recent decision, the Delaware Court of Chancery permitted a buyer to escape its obligation to acquire a target from a seller under the parties’ purchase agreement because the target had made extensive changes to its business as a result of the COVID-19 pandemic in violation of the agreement’s ordinary course of business covenant. The court’s holding reaffirms that standard ordinary course of business covenants...
08
Dec
In this series of briefing notes, we will look at some key areas of a private M&A transaction that may be impacted during COVID-19 era. This note is designed to focus on the valuation and structuring issues that may arise in these transactions.
Valuation and purchase price structure
The market uncertainty caused by the COVID-19 outbreak has led to difficulties in valuing the target and forecasting its future business performance. As such, it is not hard to see why buyers now...
07
Dec
The EU is taking steps to ensure affordable access to COVID-19 vaccines and testing kits.
The Council today adopted amendments to the directive on the common system of value added tax (VAT) to allow member states to temporarily exempt COVID-19 vaccines and testing kits, as well as closely related services, from VAT.
Member states may also apply a reduced VAT rate to testing kits and closely related services, if they choose to do so. This possibility is already available for vaccines.
The...
07
Dec
The COVID-19 crisis has compounded the challenges facing retirement savings and old-age pension arrangements and added new ones, according to a new OECD report.
The OECD Pensions Outlook 2020 says that population ageing, low growth, low returns and low interest rates were already weighing heavily on funded and pay-as-you-go pension plans, defined benefit and defined contribution schemes, as well as private and public retirement provisions before the outbreak of the pandemic. The shocks from the global health and economic crisis will...
03
Dec
December 03, 2020 |
Tax revenues fell across the OECD for the first time in a decade during 2019, but a much larger decrease is expected in 2020 as the COVID-19 pandemic drives down economic activity and consumption tax revenues, according to new OECD research published today.
The 2020 edition of the OECD’s annual Revenue Statistics publication shows that the average tax-to-GDP ratio has fallen to 33.8% in 2019, a decrease of 0.1 percentage points since 2018. This was due to decreases...
02
Dec
With the help of our members, we are creating a Thought-Leadership series on the impact of COVID-19 on Labor & Employment from the perspective of both sides of the Atlantic. Today, we present Deborah S. Brenneman, Partner at THOMPSON HINE LLP in Ohio, along with Gijs van Nes, Partner & Naud van Doorn, Associate both at NAUTADUTILH in Amsterdam, The Netherlands, who will address “Managing staffing short of cost-cutting in Europe and the United States”. |
As the end of the Covid-19...
01
Dec
On November 25, 2020, the European Commission approved a sixth contract under the EU Vaccines Strategy, this time with the pharmaceutical company Moderna. The contract provides for the initial purchase of 80 million doses on behalf of all EU Member States, plus an option to request up to a further 80 million doses, to be supplied once a vaccine has proven to be safe and effective against COVID-19.
The contract with Moderna will enlarge the already broad portfolio of vaccines...
01
Dec
November 09, 2020 |
Recently, Mayor de Blasio signed a new measure into law that bans landlords from attempting or threatening to enforce personal liability clauses in the existing contracts of business owners to whom they have leased their properties. Enacted in May and applied retroactively to the beginning of March, this specific law was set to expire at the end of September. However, as a result of the Mayor’s extension, the law will now apply through March of next...
