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,...

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...

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...

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...

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...

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...

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...

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...