30 March, 2020 The global COVID-19 outbreak has escalated incredibly quickly. Many retail landlords and tenants have already taken actions or agreed terms based on these hugely changed circumstances. Background – trading conditions and closure of non-essential retail Following the Irish Government’s requirement to close ‘non-essential retail’ premises and, prior to that, the pressures of declining footfall and increasing health and safety obligations, many retail landlords and tenants have closed stores. Even for retailers that are deemed to be ‘essential’, trading conditions may...

April 1, 2020 The Coronavirus Aid, Relief and Economic Security Act (the “CARES” Act) became law on March 27, 2020. The Act contains wide-ranging provisions for government assistance to industries, enterprises and individuals. Reavis Page Jump has summarized below some of the most salient provisions relating to small businesses and individuals. This is meant to be a general guide and not relied upon for legal advice. We expect the agencies tasked with administering these programs to continue issuing regulations and...

Highlights: • The COVID-19 pandemic has shifted the underwriting analysis for suppliers and creditors from customer-specific financial review to global health and macroeconomic analyses that are outside of the comfort zone of most company credit managers. • Credit managers have seen their customers in long-thriving industries (e.g., travel, hospitality, entertainment) face a sharp and sudden loss of revenue. Major economic drivers (e.g., automotive and retail) that depend on what the pre-pandemic world referred to as the global economy are dealing with...

The European Commission’s competition policy agenda stretches to 2024 and contains plans for many new or revised rules and guidelines. Recent publications, such as the New Industrial Strategy for Europe, shed more light on the Commission’s initiatives and their possible impact on parties from both inside and outside the European Union (EU). These new initiatives include temporary state aid rules to address the effects of the Corona crisis, consultations on the Block Exemption Regulations, and new measures in respect of...

Edited, as of May 15, 2020. As the coronavirus (COVID-19) continues to affect local communities and global economies, you may be wondering about how recently passed legislation impacts your business. Of all the relief programs available as of today, the small business funding program is possibly one of the most impactful to your business. On March 27th, 2020, Congress enacted the Coronavirus Aid, Relief and Economic Security (CARES) legislation (Public Law No.: 116-136), a $2.2 trillion federal coronavirus relief package including...

April 2020 FX Outlook In March,  the G10 and many emerging market countries, governments, and central banks unveiled large emergency measures.  The motivation is to blunt the economic impact of the novel coronavirus that has seen more than two billion people around the world have their movement restricted. Large swathes of the world's economy have shut down.  The nature of the shock means that the first countries to push its companies to re-start, and especially export-oriented countries, such as China,...

In times of crisis, nonprofits are often on the front lines helping communities cope and recover. The COVID-19 pandemic finds many of these same organizations sidelined due to mandatory closures, statewide quarantines, decreased donations and their own concerns for employee safety. As your nonprofit plans its response efforts to recover from the loss of programming, canceled events and impact on your workforce, here are the top action items that your leadership team should be addressing or considering: Comply with new FMLA...