Member News

Member News

Member News

Investment Plan for Europe: European Investment Bank provides BioNTech with up to €100 million for COVID-19 vaccine development and manufacturing

EIB debt instrument will support BioNTech’s global development of BNT162 for prevention of COVID-19 infection as well as scale-up of manufacturing capacity in Europe as part of the company’s global development and supply strategy The project benefits from Horizon 2020 InnovFin and the European Fund for Strategic Investments, joint instruments of the European Commission and the EIB The European Investment Bank (EIB) and BioNTech, a German immunotherapy company, concluded a €100 million debt financing agreement to support the development of...
Member News

UBP IAS Update: Investment Outlook July 2020

The UBP Investment Advisor teams in Zurich and Geneva started working from home as of March 16th, 2020, which is consistent with our business continuity plan and necessary for the safety of our team members given the early spike in COVID-19 incidents in Switzerland. Transitioning to remote working was relatively seamless as many in our team travel regularly and have the necessary equipment to remain connected at all times. The main challenge to overcome early on was the lack of...
Member News

LoyensLoeff: Class actions for breaches of the GDPR, something to bear in mind

Since the GDPR entered into force, there has been ample attention for regulatory enforcement and high fines. However, recent developments show an increasing number of civil claims for damages due to breaches with the GDPR, with (potential) class actions on the rise. Access the FULL report here: Class actions for breaches of the GDPR, somehting to bear in mind AUTHOR: Huib Schrama, Senior Associate Compliments of Loyens & Loeff - a member of the EACCNY.
Member News

Portolano: COVID-19 emergency and processing of health data for scientific research purposes

The Italian version of this article was first published on Diritto 24 – Il Sole 24 Ore The health emergency due to the spread of COVID-19 has made the need to correctly manage the processing of health data for scientific research purposes even more topical. In this regard, on April 21, 2020, the European Data Protection Board (“EDPB”) adopted specific Guidelines (“Guidelines”), specifying that — although the agenda for 2020 included the publication of detailed guidelines on the processing of health data...
Member News, Trade & TTIP Related

GDLSK: U.S.-Mexico-Canada Agreement Takes Effect On July 1, 2020

Importers and exporters of goods produced in North America are reminded that the U.S.-Mexico-Canada Agreement (“USMCA”) takes effect on July 1, 2020.  On that date, the eligibility rules and procedures under the North American Free Trade Agreement (“NAFTA”) will cease to apply and will be replaced by those provided for under the USMCA. The rules for originating status have remained the same for most commodities.  However, there are significant changes that have been made with respect to certain commodities, most notably...
COVID-19 News, Member News

PepperHamilton: Best Practice with Notices for Force Majeure Events

As the wave of reopening orders sweeps across the country, businesses see a light at the end of the tunnel. That light, however, in many instances is still yellow, and may be so for some time to come. Serious restrictions continue to hamper the habitual functioning of America’s businesses, customers have dwindling cash to pay for goods, supplies are restricted or cut, and social distancing practices and protocols reduce productivity. Companies, therefore, continue to take a closer look at...
Member News

Vulcan Insight: OECD forsees uncertain road to recovery

On Wednesday the OECD published its twice-yearly economic forecast, the first since the COVID-19 pandemic brought the global economy to a rapid halt. In its announcement, the OECD acknowledges and welcomes the various economic, health and containment measures introduced by national governments to prevent the virus’ spread but warned of the “most severe recession in nearly a century.” While restrictions are easing and economies are reopening, the club of the 100 richest economies cautioned against too much optimism in the continued absence...
Member News

CLA: New Loan Forgiveness Applications for Paycheck Protection Program

Key insights The SBA updated the loan forgiveness application and issued a new Interim Final Rule (IFR) to incorporate more of the Paycheck Protection Program Flexibility Act of 2020. New Form 3508EZ is available for borrowers who meet certain criteria. The application and IFR provide some key information for borrowers about how the PPP Flexibility Act will be applied. While many borrowers welcomed the passage of the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act), it still left them with questions about how the Small...