On Saturday 4 April, HMRC issued further guidance on the Job Retention Scheme (“JRS”). Given the unprecedented economic backdrop against which the JRS is being introduced, the exact workings of it are still being developed and clarified, with each announcement in turn giving rise to further questions for employers and employees. We have produced a … Continue Reading
To assist German businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the packages, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
To assist in understanding what financial support packages the EU have announced we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. This … Continue Reading
To assist Spanish businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
To assist Italian businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
To assist French businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
To assist Czech Republic businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this … Continue Reading
To assist Belgian businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
To assist Polish businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
To assist Slovakian businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link. … Continue Reading
A major problem to the analysis of the crypto asset and the related blockchain industry has been and still is the lack of clear guidelines and legal definitions. This blog considers how German law approaches crypto assets and how those type of assets are dealt with in an insolvency.… Continue Reading
The European Union (EU) recognized the unprecedented situation, which has arisen as a result of the Coronavirus/COVID-19 outbreak and is currently activating measures to help the economic consequences of the COVID-19 crisis. Click here to read out latest alert about these measures.… Continue Reading
The validity of an assignment of receivables cross-border depends on the law that applies to the assignment. What might amount to a valid assignment in one jurisdiction does not mean that it is valid in another, and where there are competing claims to the receivables and competing jurisdictions, the question of which law applies – … Continue Reading
COVID-19 poses many acute dilemmas for boardrooms. Directors and executives need to make highly sensitive decisions to navigate through the COVID-19 crisis. Decisions taken now could come under scrutiny and potentially give rise to future litigation and regulatory intervention, so directors should be mindful of their duties and consider how their decisions may look in … Continue Reading
What should German organisations be doing to mitigate the impact of Covid-19 on their business, staff, supply chains, etc Here is an overview of the key legal issues for businesses in Germany to consider, together with some practical steps for businesses to take. Also available in German – click here.… Continue Reading
Over the weekend, the Business Secretary announced that UK Insolvency Laws will be changed. The changes will give businesses “extra time to weather the storm” and give comfort to directors who, challenged with trading through a difficult cash flow period, will not face claims for wrongful trading.… Continue Reading
Aside from managing the practicalities that Covid-19 places on business operations, directors must also consider in this context, their duties as directors. This note is a useful reminder of what those duties are and how Covid-19 could impact on those.… Continue Reading
This week has already seen both the Covid Corporate Financing Facility (CCFF) scheme and the Coronavirus Business Interruption Loan Scheme (CBILS) go live. Now we are into the first week of implementation of these two flagship schemes from the Bank of England and Government respectively, it’s clear that accredited providers, being those who are now … Continue Reading
The Australian Government has taken swift action to enact new legislation which significantly changes the insolvency laws relevant to all business as a result of the ongoing COVID-19 related developments. Snapshot Temporary relief from insolvent trading and associated personal liabilities for directors seeking to navigate a path to financial viability and recovery for their companies, … Continue Reading
On March 23, 2020, the German Federal Government (Bundesregierung) published a draft bill to mitigate the consequences of the COVID-19 in civil, insolvency and criminal procedural law. From an insolvency perspective, the aim of the proposed amendments is to enable and facilitate the continuation of businesses that have become insolvent or are experiencing economic difficulties … Continue Reading
As we see more businesses having to close doors or adapt to a new set of rules, we set out a summary of some of the issues we anticipate for those needing to shut down but preserve their businesses at least until the lockdown is over. We will produce a more detailed client alert as … Continue Reading
How do you keep capital working? This article considers the financial health of a business in the face of the threats to working capital, providing practical tips that apply to all businesses, in all sectors in all jurisdictions.… Continue Reading
The German Federal Ministry of Justice and Consumer Protection is preparing new legislation suspending the obligation to file for insolvency in order to protect companies that encounter financial difficulties due to the coronavirus crisis (see here). According to section 15a(1) of the German Insolvency Code (Insolenzordnung), managing directors or management board members of legal entities … Continue Reading
Due to its constitutional and legal system, Germany is different from a number of other countries around the world. Measures fighting the spread of COVID-19 in Germany cannot be taken at the central government level in Berlin (Bundesregierung) but have to be taken by the governments of the 16 states (Landesregierungen), which constitute the Federal … Continue Reading
