Governments and agencies around the world are rallying to protect their people from COVID-19. But each country and region is employing different tactics to meet the same goal. Morgan Lewis has assembled cross-disciplinary teams across our global offices to advise companies on this ever-evolving patchwork of laws and guidance.
In response to delayed EU shipments of certain COVID-19 vaccines to the European Union, the European Commission (Commission) passed on 29 January 2021 Regulation 2021/111 (Export Authorization Regulation) which is in force from 30 January 2021. The Commission intends for the Export Authorization Regulation to apply until at least 31 March 2021.
Our COVID-19 Legal Issue Compendium brings together in one place an overview of our key publications covering the legal and regulatory landscape, including matters related to business operations and industry-specific issues faced by many companies around the world amid the pandemic.
The European Commission recently launched a consultation on a proposal that would allow investment firms to rebundle payments for research on small- and mid-cap issuers and fixed income instruments, to aid in the recovery from the COVID-19 pandemic and to mitigate the decline in research coverage of those sectors caused by unbundling as observed prior to the pandemic’s onset.
We have summarized recommendations made by the European Council for an easement of restrictions for certain residents from July 1, 2020.
As governments around the world work to stem the coronavirus (COVID-19) pandemic, merger control authorities in jurisdictions around the globe are adapting their operations and procedures.
As the coronavirus (COVID-19) pandemic restrictions continue to ease globally, we have compiled a list of current immigration updates for employers looking to move essential employees globally, and/or repatriate them to their home countries.
The European Commission (EC) on May 4 announced the adoption of exceptional derogations from EU competition rules to allow certain types of cooperation in the following sectors: milk and milk products, potatoes, and live plants and flowers, as part of a wider package to support the agri-food industry during the ongoing coronavirus (COVID-19) pandemic.
The potential tension between the protection of public health and the fundamental right to personal privacy is being tested on an unprecedented scale in the global coronavirus (COVID-19) pandemic. The European Data Protection Board (EDPB) adopted guidelines on 21 April 2020 on the processing of health data as part of research efforts to respond to the COVID-19 pandemic (Research Guidelines) and on geolocation, and other tracing tools, in the context of the pandemic (Tracing Guidelines).
The coronavirus (COVID-19) pandemic challenges people, economies, and governments across the globe. This LawFlash highlights the actions affecting employers and employees that the German federal government has taken, or is about to take, to respond to these challenges. The situation is dynamic and should be monitored closely.
During the coronavirus (COVID-19) pandemic, it is important for policyholders to remember that key insurance principles, including the principle of aggregation in the United Kingdom, could make a significant difference to any claim on their policies.
The European Commission published its first comfort letter in nearly 20 years on April 29, in an effort to foster cooperation among businesses during the coronavirus (COVID-19) pandemic. Here is what companies should know about the specific practices permitted under the comfort letter, as well as the specific conditions and safeguards for cooperation.
The impact of the coronavirus (COVID-19) pandemic on the global sports industry and its affiliated sectors is substantial and unprecedented. Constructive stakeholder engagement at all levels is crucial to ensuring business continuity. Organizations should be cognizant that decisions made now will attract post-crisis scrutiny, and start planning for post-pandemic recovery and growth.
The UK government today launched a new loan guarantee programme for UK businesses—the Coronavirus Large Business Interruption Loan Scheme (CLBILS)—intended to plug the gap by providing loan guarantees for medium and large businesses which were not covered by the two earlier UK loan guarantee programmes related to the coronavirus (COVID-19) pandemic.
In light of the ongoing coronavirus (COVID-19) pandemic, the ICC on April 9 released a guidance highlighting a number of measures that parties, counsel, and tribunal members can take in order to avoid extensive disruption to arbitral proceedings.
The European Commission has provided antitrust guidance to companies cooperating in response to urgent coronavirus (COVID-19) related matters, particularly in the health sector for critical hospital medicines and medical equipment, and has also exceptionally issued a “comfort letter” on a cooperation project in the generic pharmaceuticals sector aimed at ensuring the supply of critical hospital medicines. Other ad hoc “comfort letters” may follow at the EU Commission’s discretion.
The European Commission has approved a £50 billion (EUR 57 billion) “umbrella” UK state aid scheme to support small and medium-sized enterprises and large corporates in the United Kingdom affected by the coronavirus (COVID-19) outbreak. The umbrella scheme was approved on April 6, 2020, under the State Aid Temporary Framework, as amended.
The Council of the EU announced on March 30 that the European Union has suspended the airport slot requirements until October 24. The slot requirements require airlines to use at least 80% of their slots in order to be guaranteed usage of those slots in the following year.
The French government has announced that the wearing of masks in enclosed and shared spaces within private and public companies will be mandatory as of September 1, 2020. The implementation of barrier gestures and the practice of teleworking is still strongly recommended.
Our COVID-19 Legal Issue Compendium brings together in one place an overview of our key publications covering the legal and regulatory landscape, including matters related to business operations and industry-specific issues faced by many companies around the world amid the pandemic.
As governments around the world work to stem the coronavirus (COVID-19) pandemic, merger control authorities in jurisdictions around the globe are adapting their operations and procedures.
Evidence is growing of a hardening of French public policy regarding the need for political control of acquisitions of French companies and other foreign direct investment (FDI) transactions.
While most companies in France (with the exception of cafés and restaurants, sports halls, theatres, museums, and companies whose activities allow teleworking) will be able to resume their activity from 11 May, employers must now take health and safety measures to ensure the protection of their employees and limit the risks of litigation and criminal proceedings.
As prevention measures against the coronavirus (COVID-19) pandemic bump into the principles and guidelines of the EU General Data Protection Regulations (GDPR), the French Data Protection Authority has reinforced essential rules and good practices for companies to ensure employee personal data protection.
The French government has been adopting a series of legal measures in response to the coronavirus (COVID-19) pandemic. The French Parliament voted on a law responding to the epidemic on 23 March (the Bill). In addition to measures relating to the holding of municipal elections and sanctions for breaches of the confinement regime which has been in force since 17 March, the government also took measures that affect French business and legal proceedings before the French courts in a variety of ways.
The coronavirus (COVID-19) pandemic in France has led to travel bans and restrictions, including the quarantine of individuals. These measures have disrupted many businesses’ supply chains and operations, including factory and store closures.
The French government has recently published a large number of texts and recommendations to help deal with the coronavirus (COVID-19) pandemic. This guide brings together the various texts and recommendations published in the field of social law in order to give companies an overview of the mechanisms available to them.
Our COVID-19 Legal Issue Compendium brings together in one place an overview of our key publications covering the legal and regulatory landscape, including matters related to business operations and industry-specific issues faced by many companies around the world amid the pandemic.
As governments around the world work to stem the coronavirus (COVID-19) pandemic, merger control authorities in jurisdictions around the globe are adapting their operations and procedures.
Two key amendments to the German competition law entered into effect on May 29, 2020, temporarily extending merger control review periods and temporarily suspending interest payments for antitrust fines, further to a bill adopted by the German Parliament to mitigate the consequences of the coronavirus (COVID-19) pandemic on trade.
As the economic effects of the coronavirus (COVID-19) pandemic continue to be felt, Germany’s protective shield proceeding under Section 270b of the Insolvency Code is a way for companies to restructure under the direction of management.
A recent amendment to Germany’s foreign direct investment ordinance adds new businesses to the existing catalogue of critical infrastructures—in particular, in the health sector—that will be subject to foreign direct investment screening going forward.
The coronavirus (COVID-19) pandemic challenges people, economies, and governments across the globe. This LawFlash highlights the actions affecting employers and employees that the German federal government has taken, or is about to take, to respond to these challenges. The situation is dynamic and should be monitored closely.
Germany debates whether apps related to the coronavirus (COVID-19) pandemic would be useful, what they should cover, and what the ramifications would be under applicable data protection laws.
The COVID-19 pandemic created many uncertainties and challenges for investors and operators alike across the Middle East, including in the United Arab Emirates, which is often considered a regional healthcare and business hub. As a result, 2020 saw many transactions in the healthcare sector either abandoned or put on hold, but the region has since demonstrated signs of a strong recovery in the transactional space in general and particularly in the healthcare industry.
Our COVID-19 Legal Issue Compendium brings together in one place an overview of our key publications covering the legal and regulatory landscape, including matters related to business operations and industry-specific issues faced by many companies around the world amid the pandemic.
Morgan Lewis managing partners Bill Nash and Ayman Klaleq were interviewed by LexisNexis for a special edition of the Lexis Middle East Law Alert magazine, which gives a round-up of legal, finance, and tax developments across the Middle East.
As governments around the world work to stem the coronavirus (COVID-19) pandemic, merger control authorities in jurisdictions around the globe are adapting their operations and procedures.
As the coronavirus (COVID-19) pandemic restrictions continue to ease globally, we have compiled a list of current immigration updates for employers looking to move essential employees globally, and/or repatriate them to their home countries.
Measures under the Targeted Economic Support Scheme include allowing UAE banks to temporarily defer loan repayments and extend existing facilities for corporate and retail clients.
Dubai has announced the gradual reopening of business activities beginning 27 May 2020 within the emirate. The announcement that there will no longer be any restrictions on movement between 6 am and 11 pm was issued at a virtual meeting of Dubai’s Supreme Committee of Crisis and Disaster Management held on 25 May 2020.
Expectations for positive turns in many spheres of life, both commercial and social, have sprung at the arrival of COVID-19 vaccination. One of the popular questions is whether vaccination could change the current preference for working remotely (even as we see gradual easing of the remote work requirement in Russia) or whether it would be required as a condition to work in office. In this LawFlash we address whether an employer can require employees to vaccinate, whether the employee can seek to discontinue remote work following vaccination, and related matters.
In response to the coronavirus (COVID-19) pandemic, President Vladimir Putin authorized the heads of Russian regions to determine the lockdown rules depending on the epidemiological situation in a particular territory. In this alert we address the most recent restrictions introduced by the Mayor of Moscow, including new reporting requirements.
Reopening procedures for retailers in Russia focus on employee scheduling, social distancing and sanitary plans, and medical screening protocols.
Our COVID-19 Legal Issue Compendium brings together in one place an overview of our key publications covering the legal and regulatory landscape, including matters related to business operations and industry-specific issues faced by many companies around the world amid the pandemic.
As governments around the world work to stem the coronavirus (COVID-19) pandemic, merger control authorities in jurisdictions around the globe are adapting their operations and procedures.
As Russian regions are lifting pandemic-related workplace restrictions, employers must start considering how best to cope with a vast array of issues, including restarting operations, reintegrating remote-working employees, implementing new and existing requirements, and protecting the safety of employees and customers. Employers who proactively plan for these challenges will be best positioned to adapt to the “new normal.”
Russia has adopted rules allowing to renegotiate real estate leases and postpone lease payments in certain cases. These rules affect both landlords and tenants. In this LawFlash we address the basics of these rules as adopted on the federal level. The rules may differ depending upon where the real estate in question (buildings, premises, or land plots) is located as some Russian regions have adopted their own regulations on this subject matter.
Russia ended the mandatory non-work days introduced to curb the coronavirus (COVID-19) pandemic, initially from 30 March through 3 April with further several extensions through 11 May. However, the end of non-work days does not mean "back to normal." The subjects of the Russian Federation (Russia’s constituencies) must continue to maintain the specific preventive measures depending on the epidemiological situation in a particular territory. In this alert, we address some recent changes introduced in connection with the end of non-work days, with a particular focus on Moscow.
In response to the coronavirus (COVID-19) pandemic, Russia has changed its bankruptcy laws to provide for a moratorium on bankruptcies and a freeze on certain transactions. While the situation is dynamic, these amendments are relevant for ongoing or potential transactions in Russia, as well as a party’s ability to enforce pledges and other types of security interests or to seek other remedies against Russian companies.
This is our first edition of Morgan Lewis Spark, a quarterly update highlighting new and amended Russian legislation of importance to companies operating in the Russian energy and mining sectors.
Russian courts introduced certain measures to prevent the coronavirus (COVID-19) spread. Affected parties should take these measures into consideration when developing their litigation strategies.
In response to the coronavirus (COVID-19) pandemic, Russia has introduced non-work days through 30 April 2020 to keep people at home. The non-work days are mandatory for all employers with limited exemptions. On 2 April, President Vladimir Putin authorized the heads of subjects of the Russian Federation (Russia’s constituencies) to provide further exemptions or stricter rules depending on the epidemiological situation in a particular territory. In this alert we address the most recent restrictions introduced by the Mayor of Moscow, including the introduction of digital passes.
In response to the coronavirus (COVID-19) pandemic, Russian President Vladimir Putin asked people to stay at home and introduced non-working days, initially from 30 March to 3 April and recently extended to 30 April.
Russia’s state support for Russian businesses amid the unprecedented consequences of the coronavirus (COVID-19) pandemic has been so far focused primarily on small and mid-sized businesses. This LawFlash examines the measures Russia is taking or considering to support larger businesses coping with COVID-19.
The UK Home Office has updated its guidance with a few notable changes for employers regarding start dates, sponsor reporting, the immigration skills charge, and the non-visa national list. New COVID-19 testing requirements for Chinese nationals entering the United Kingdom have also been imposed.
The UK Home Office has announced new identification document validation technology for right-to-work checks due to take effect from April 6, together with an extension of the COVID-19 temporary right-to-work check measures. In addition, there has been a further easement of travel restrictions for nonvaccinated travelers arriving in the United Kingdom.
A group of hospitality policyholders failed in their attempt to obtain cover under a business interruption policy as it was determined, in an ad hoc arbitration, that the UK central government did not constitute “a competent local authority.”
Partner Louise Skinner reviews the UK government’s proposals to extend the right to request flexible working in an article for Employment Law Journal.
On 23 September, the UK government published a consultation document, “Making flexible working the default”, which proposes various reforms to the right for employees to request flexible working arrangements—particularly in light of changes in working practices brought about by COVID-19.
Partners Matthew Howse and Louise Skinner contributed to the Chambers Global Practice Guide 2021.
The UK Home Office has announced that the temporary COVID-19 adjusted right-to-work checks have been extended to 5 April 2022 following the positive feedback on remote checks.
The UK Supreme Court issued a policyholder-friendly decision earlier this year on the Financial Conduct Authority’s business interruption test case. The judgment will apply to policyholders’ claims on a case-by-case basis.
The UK government has waived quarantine requirements for visitors from Europe and the United States who have been fully vaccinated—and who have not been in France or a Red List country in the 10 days prior to arriving in the United Kingdom—as part of a range of new measures designed to continue reopening international travel.
The UK government has now opened the new Graduate Route for visa applications. The Graduate Route will allow international students to remain in the United Kingdom for two years after graduating from a higher education provider to enable them to find work. The new route is part of the government’s push to attract and retain talented individuals.
As a result of the UK government’s 14 June announcement to extend the date for the easing of lockdown restrictions and social distancing measures, the UK Home Office has announced that the temporary COVID-19 adjusted right-to-work checks will now end on 31 August 2021, as opposed to 20 June 2021.
Partners Louise Skinner and Lee Harding authored an article for International Employment Lawyer that outlined strategies for maintaining a healthy workplace culture.
Update: The UK Home Office has announced that the temporary COVID-19 adjusted right-to-work checks will now end on 20 June 2021, as opposed to 17 May 2021. From 21 June 2021, employers will be required to revert to face-to-face and physical document checks as set out in the legislation and guidance and further detailed below. This is a welcome change for many businesses whose offices remain closed, and is aligned with the easing of lockdown restrictions and social distancing measures, as set out in the government’s roadmap for England and those of the devolved administrations.
On 3 March 2021, the UK government confirmed the continuation of the Coronavirus Job Retention Scheme (CJRS) through the end of September 2021. The CJRS was due to end on 30 April 2021 and has, so far, supported more than 11.2 million employees since its inception in March 2020.
As businesses continue to grapple with the effects of the pandemic in the spring of 2021, the Equality and Human Rights Commission (EHRC) has granted companies a six-month extension to report their gender pay figures. Employers should aim to report by 4 April 2021 wherever possible, but the EHRC will not take any enforcement action until 5 October 2021 in order to “strike the balance” between supporting businesses and the Regulations (as defined below). The annual April deadline introduced in 2017 was suspended entirely in 2020 due to COVID-19.
With telehealth surging around the globe due to the COVID-19 pandemic, the UK National Health Service has released guidance that provides a set of good practice principles for third-party partners to follow.
HM Treasury in the United Kingdom released its sixth direction concerning the Coronavirus Job Retention Scheme on 26 January 2021. Many of the central features of the furlough scheme have not changed, including the level of the government’s contribution to employees’ wages. However, certain dates have been amended and the direction addresses issues that employees on variable pay would have faced under the scheme had the latest changes not been made. Employers will also be interested to know that HM Revenue & Customs has started to publish details of companies that have made claims through the scheme since December 2020.
This LawFlash provides a summary of the UK Supreme Court’s final decision in the FCA Business Interruption test case. The judgment is more policyholder friendly than the High Court judgment, particularly in relation to causation and quantification, and will have a far-reaching and long-lasting impact on policy interpretation.
Following the announcement of its third national lockdown on 5 January 2021, the UK government has updated its guidance on the Coronavirus Job Retention Scheme, stating that employers may furlough employees in circumstances where an employee’s health has been adversely affected by COVID-19 or where the employee is prevented from working or required to work reduced hours due to COVID-19 or care responsibilities as a result of lockdown.
In response to the changes in the transmission of COVID-19, both domestically and across the globe, the UK government has announced that passengers from all international destinations will now be required to present a negative COVID-19 test result before departing for England.
The United Kingdom on 2 December became the first country to approve the Pfizer-BioNTech vaccine for coronavirus (COVID-19), with approximately 500,000 people receiving the vaccine in the first two weeks of the largest vaccination programme in British history.
UK Chancellor Rishi Sunak announced on 17 December that the Coronavirus Job Retention Scheme (CJRS) is to be extended until 30 April 2021. This represents a further extension of one month.
Lawyers from our London practice have contributed to Lexology’s Getting the Deal Through (GTDT) – Distressed M&A 2021 guide. The UK chapter features insight from lawyers in our corporate, finance, tax, and antitrust practices.
Businesses in the United Kingdom which engage contractors through intermediaries should prepare now for changes to the “IR35” rules that will take effect in April 2021.
Morgan Lewis associate Yvette Allen was quoted by Practical Law Employment in a Q&A guide that details a number of frequently asked questions by employers on right to work issues, including changes to regulations in light of the COVID-19 pandemic.
The eagerly anticipated news of coronavirus (COVID-19) vaccine candidates last week has been welcomed by the scientific community across the globe. For employers, the news has prompted consideration of the potential implications of a successful vaccine for the workplace.
HM Revenue & Customs (HMRC) in the United Kingdom (UK) has released its full guidance for the Coronavirus Job Retention Scheme (CJRS) extension, which was first announced by the UK government on 31 October 2020. The scheme has since been extended until 31 March 2021.
The United Kingdom has announced a second extension to the country’s Coronavirus Job Retention Scheme (CJRS) in less than a week. The CJRS will now run until 31 March 2021, with some revised details compared to the previous versions of the scheme.
Morgan Lewis partner Louise Skinner was quoted by Personnel Today in an article about the extension of the UK’s Job Retention Scheme, which has caused challenges for many employers.
Morgan Lewis partner Louise Skinner authored an article for CityWorks that provides guidance for employers about how to best support parents during the pandemic.
This LawFlash is the second in a series following the judgment in the FCA’s Business Interruption Test Case. Previously we have discussed the “insured peril” under business interruption (BI) insurance policies, and the interconnected issues of causation and the “Trend Clause.”
Chancellor Rishi Sunak outlined a new sixth-month Job Support Scheme (JSS) on 24 September to replace the coronavirus Job Retention Scheme (JRS) that is due to end on 31 October 2020.
Key questions and issues facing the UK retail sector, an industry that has been acutely impacted by the coronavirus (COVID-19) pandemic, include mitigation strategies, reopening in line with government guidance, and future expected challenges.
The Financial Conduct Authority (FCA) has challenged eight insurers in a business interruption insurance test case in order to seek coverage for insureds. The UK’s financial services industry regulator is taking an adversarial stance in order to determine whether 17 different policy wordings can provide cover for businesses across the country, in the hope this will provide a level of certainty at this difficult time for businesses.
Our COVID-19 Legal Issue Compendium brings together in one place an overview of our key publications covering the legal and regulatory landscape, including matters related to business operations and industry-specific issues faced by many companies around the world amid the pandemic.
The Department for Business, Energy & Industrial Strategy published a statement on 30 July announcing that furloughed employees will receive statutory redundancy pay based on their normal wages, rather than a reduced furlough rate.
A new act in the United Kingdom provides power to HMRC to claw back coronavirus (COVID-19) support payments and issue penalties for deliberate and inadvertent misuse of such schemes.
The UK government’s Dairy Produce Order of May 1, 2020, which temporarily relaxed the application of UK competition law to certain types of cooperation in the dairy sector between dairy produce suppliers or dairy logistic service providers during the ongoing coronavirus (COVID-19) pandemic, expired on August 2, 2020. Accordingly, any relevant cooperation that may have briefly benefitted from the temporary exemption is once again subject to UK antitrust rules.
The coronavirus (COVID-19) pandemic brought much of the world’s professional sport to a standstill during the first half of 2020. Set against the background of widespread border closures, there has been significant uncertainty with respect to the lawful movement of people. Here, we look at the options available for people working across the breadth of the sports sector who wish to visit or move to the United Kingdom.
The UK government passed reforms on 21 July 2020 lowering the thresholds to intervene in mergers and acquisitions considered relevant to UK national security in the artificial intelligence, cryptographic authentication, and advanced materials sectors. Longer term the UK government is planning to pass further legislation to obtain additional powers of intervention in mergers impacting UK national security.
The coronavirus (COVID-19) pandemic has had sweeping effects around the world, and in this era of globalization, business transactions that span multiple jurisdictions and markets have fallen prey to new and unexpected risks presented by the pandemic.
The United Kingdom is starting to see a return of the workforce for nonessential retail, which reopened on June 15. Shortly thereafter, the prime minister announced further easing of lockdown restrictions as the United Kingdom begins the third stage of its plan. From July 4, pubs, restaurants, hairdressers, hotels, and other outdoor activities are able to reopen if they comply with new guidance. From July 13, beauticians, spas, and salons are able to reopen. The UK government has also launched a new scheme, “Eat Out to Help Out,” to help the restaurant industry, giving diners 50% (up to £10) off their bill if they eat in a registered cafe or restaurant on a Monday, Tuesday, or Wednesday during August. To facilitate the reopening of these retail stores, the well-established two-meter social distancing rule will change to “one meter plus.” This Retail Did You Know? explores the issues UK nonessential retailers face from an employment perspective.
From 4 July, pubs, restaurants, hairdressers, hotels and other outdoor activities in the United Kingdom reopened but are required to comply with new guidance announced 23 June. To facilitate their opening, the well-established two-metre social distancing rule will change to “one metre plus.” This further easing of lockdown restrictions will affect employers and employees alike.
Morgan Lewis partner Lee Harding and associate William Mallin co-authored an article for Employment Law Journal about how to protect the health and safety of employees upon their return to the workplace. In the article they also examine the extent of an employee’s right to refuse to return to work because of the threat posed by coronavirus.
The UK Competition and Markets Authority on June 19 announced that it had opened investigations against four pharmacies and convenience stores in relation to suspected breaches of antitrust rules by charging excessive and unfair prices for hand sanitiser products during the coronavirus (COVID-19) pandemic, and on June 29 published an open letter warning pharmacists against price gouging, raising the possibility of additional investigations.
New reforms have given the UK government the power to intervene in acquisitions, with a view to maintaining in the United Kingdom the capability to combat and mitigate the effects of public health emergencies.
As governments around the world work to stem the coronavirus (COVID-19) pandemic, merger control authorities in jurisdictions around the globe are adapting their operations and procedures.
As the coronavirus (COVID-19) pandemic restrictions continue to ease globally, we have compiled a list of current immigration updates for employers looking to move essential employees globally, and/or repatriate them to their home countries.
The UK government on 12 June published additional updated guidance on the Coronavirus Job Retention Scheme (the Scheme), explaining how the flexible furlough arrangements can be implemented by employers looking to bring back staff in a gradual manner.
Through the High Court test case, the UK Financial Conduct authority hopes to obtain legal clarity on business interruption insurance during the coronavirus (COVID-19) pandemic.
The UK Parliament’s Foreign Affairs Committee has issued a “call for evidence” as part of its ongoing review of the UK government’s role in intervening in certain foreign takeovers of UK companies and potentially blocking foreign asset stripping in the United Kingdom where a transaction could have national security implications therein.
The Corporate Insolvency and Governance Act 2020 (Act), which came into force on 26 June 2020, brings into effect previously announced insolvency reforms.
An International Centre for Settlement of Investment Disputes (ICSID) tribunal has recently dismissed the jurisdictional challenges of the Republic of Cyprus and is pushing ahead with a multiparty arbitration commenced by former depositors and bondholders of Laiki Bank and the Bank of Cyprus.
The UK government on 29 May published updated guidance on the Coronavirus Job Retention Scheme, which has been extended to the end of October 2020 but for which employers will need to contribute to furloughed employee costs from August 2020. Additionally, staff who were furloughed by 12 June can be flexibly furloughed. This LawFlash covers the new guidance and considers employers’ options as the scheme winds down, including redundancies during or following furlough.
The offeror for Moss Bros sought to rely on standard material adverse change conditions to lapse the offer, on the basis of the impact of the coronavirus (COVID-19) pandemic and related UK governmental measures on Moss Bros. The Panel Executive ruled that the impact on Moss Bros’ business was not sufficiently material to permit the lapsing of the offer.
Owing to the coronavirus (COVID-19) crisis, the UK government has announced a number of immigration changes, including visa extension and switching measures as well as a mandatory self-quarantine period for those entering the United Kingdom from June 8, 2020. Other announcements include changes to the guidance for EEA nationals applying for nationality and a Statement of Changes affecting the Startup, Innovator, EU Settlement Scheme, Tier 4, and Global Talent visa categories.
The UK government has introduced proposed legislation that will give companies flexibility to hold their annual general meetings where lockdowns due to the coronavirus (COVID-19) pandemic would prevent such meetings in person.
The UK Future Fund is aimed at supporting continued growth and innovation for UK-based companies in a variety of sectors amid the coronavirus (COVID-19) pandemic.
In the wake of the coronavirus (COVID-19) pandemic, international arbitration and alternative dispute resolution institutions are looking to provide innovative solutions to current restrictions on international travel and physical attendance at hearings and proceedings.
The UK Parliament on May 2 adopted the Dairy Produce Order, which temporarily relaxes the application of UK competition law to certain types of cooperation between either dairy produce suppliers or logistic service providers to address issues in the supply chain caused by the ongoing coronavirus (COVID-19) pandemic, such as decreased demand from the hospitality sector and reduced collections from retailers.
The UK Financial Conduct Authority (FCA) on May 15 invited policyholders of business interruption (BI) insurance that have been affected by the coronavirus (COVID-19) pandemic, and have had a claim under their insurance policy rejected by their insurer, to get in touch so that their arguments may be taken into account as part of the FCA’s plan to seek the court’s views on certain policy wordings by commencing a test case in the English High Court.
In recognition of growing concerns regarding the impact of the coronavirus (COVID-19) on the UK economy and the profound social impact of lockdown measures, the government has this week unveiled its strategy for exiting the lockdown alongside detailed sector-specific guidance on how to work safely during the pandemic.
The European Commission (EC) on May 4 announced the adoption of exceptional derogations from EU competition rules to allow certain types of cooperation in the following sectors: milk and milk products, potatoes, and live plants and flowers, as part of a wider package to support the agri-food industry during the ongoing coronavirus (COVID-19) pandemic.
US companies trying to close international deals or set up new branches in foreign countries are struggling to secure apostilles to certify documents due to quarantine mandates and office closures resulting from the coronavirus (COVID-19) pandemic.
Key issues that UK employers should begin considering now to minimize difficulties as they reopen or expand their operations include reintegrating staff, assessing internal policies in light of the pandemic, testing for the coronavirus (COVID-19), and more.
When the UK government’s job retention portal, where UK employers can seek to recover wages of furloughed employees, went live, it received 67,000 claims within 30 minutes. The challenges employers are facing during the coronavirus (COVID-19) pandemic are clear. Amid an evolving situation, we have seen seven iterations of government guidance—sometimes contradictory—on the Job Retention Scheme and additional information from both HM Treasury and Advisory, Conciliation and Arbitration Service.
The UK government has announced two new schemes for funding to innovative companies and startups, launching in May 2020.
A number of UK insolvency trade association bodies and professionals are advocating for the use of what is known as a light-touch administration for companies in financial distress as a result of the coronavirus (COVID-19) pandemic.
New guidance from the UK Competition and Markets Authority warns that it will not relax its substantive or evidentiary standards for merger investigations during the coronavirus (COVID-19) pandemic. Statutory deadlines will not be altered, although aspects of investigations may be subject to delay, and the authority will continue to impose interim measures. The authority also set out its position on mergers involving “failing firms,” indicating some flexibility in its interpretation of the counterfactual test.
The impact of the coronavirus (COVID-19) pandemic on the global sports industry and its affiliated sectors is substantial and unprecedented. Constructive stakeholder engagement at all levels is crucial to ensuring business continuity. Organizations should be cognizant that decisions made now will attract post-crisis scrutiny, and start planning for post-pandemic recovery and growth.
In light of the UK government’s lockdown measures and the COVID-19 pandemic, there are key issues English public companies should consider for their annual general meetings (AGMs) while awaiting further legislation and flexibility.
The UK government issued a Direction to HMRC on 15 April and published updated guidance on the Coronavirus Job Retention Scheme on 17 April. Most notable was the amended date that employees must have been on their employer’s payroll to qualify for the scheme, which has been brought forward from 28 February 2020 to 19 March 2020, allowing a larger number of employees to benefit. The Chancellor has also extended the scheme until the end of June 2020 (previously due to terminate on 31 May).
The UK government today launched a new loan guarantee programme for UK businesses—the Coronavirus Large Business Interruption Loan Scheme (CLBILS)—intended to plug the gap by providing loan guarantees for medium and large businesses which were not covered by the two earlier UK loan guarantee programmes related to the coronavirus (COVID-19) pandemic.
Morgan Lewis partner William Yonge was quoted in an ACA Insight article about two new sets of “expectations” issued recently by the United Kingdom’s Financial Conduct Authority and Prudential Regulation Authority that investment advisory firms and brother-dealers are required to follow.
The UK government published updated guidance on the Coronavirus Job Retention Scheme on 4 and 9 April, providing clarity on such issues as which employees can be furloughed, what activities are permissible during furlough leave, and how to calculate furlough payments. However, the government has yet to clarify formally how annual leave will operate with respect to furloughed employees.
The threat of coronavirus (COVID-19) has caused a sudden, unprecedented disruption to many areas of our lives. The decision to suspend the English Premier League (PL) is far from the most important or immediate concern, but it does factor as one of the many social, cultural, and financial fallouts of the crisis. We explore some of the legal issues arising out of the current suspension of the 2019/20 season and the legal challenges the PL and its key stakeholders will be considering in relation to the prospect of a total cancellation.
The UK Financial Conduct Authority and Prudential Regulation Authority have published statements setting out their expectations of dual-regulated and solo-regulated firms on their senior managers and certification regime requirements in the context of the coronavirus (COVID-19). They intend to provide flexibility to firms where they can and have made specific provisions in light of COVID-19.
HM Revenue & Customs has made available further details to the UK government’s 20 March announcement on a series of initiatives, including a valued added tax deferral, to support British businesses in the face of the coronavirus (COVID-19) pandemic.
With effect from 6 April, the UK government has increased the “prescribed part”—a portion of floating charge realisations that is set aside for unsecured creditors on a company’s insolvency—from £600,000 to £800,000.
As the coronavirus (COVID-19) pandemic continues to evolve, regulatory and legislative authorities are taking actions, in the form of directives and orders, that could directly impact companies’ business interruption coverage. Careful review of insurance policies and insurers’ responses in light of these actions, as well as monitoring of regulatory and legislative developments, will be critical in preserving companies’ rights to coverage for COVID-19 losses.
The UK Home Office on 30 March temporarily relaxed the right to work check requirements for employers due to the coronavirus (COVID-19) outbreak.