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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…
In an effort to allay concerns and to enable our clients to adjust plans relevant to nonimmigrant or immigrant visa status in light of the current unprecedented situation, we are providing you with this update regarding current operations of relevant government agencies and any special notifications, dispensations or waivers granted due to the COVID-19 pandemic. …
Like the country and economy at large, the COVID-19 pandemic is significantly impacting secondary education and the student lending industry. In response to the pandemic, colleges across the country closed their campuses, sent students home, and turned to online learning platforms, creating uncertainty for current student borrowers. President Trump, Congress, and the U.S. Department of…
As we continue to follow the trend of regulatory agencies providing guidance allow working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in the recent past and current as of March 19, 2020. Colorado Department of Regulatory Agencies, Division of Real Estate Issued an Advisory on…
There have been a number of helpful blogs over the past few days from our colleagues at Porter Wright aimed at helping businesses navigate the COVID-19 outbreak. Navigating Employment Issues in the Wake of COVID-19 webinar We have all felt the tremendous impacts to our workplaces and daily lives following the COVID-19 outbreak We’ve also…
As reported by various news outlets to include CNN.com, the first cases of coronavirus in the federal correctional system emerged earlier this week as the number of infected inmates and staff at facilities across the country continued to climb. This, in turn, has heightened concerns about the spread of the pandemic within the institutions housing…
Commercial property insurance policies frequently include business interruption or loss of business income coverage when a covered “cause of loss” creates a slowdown or reduction in business income. Companies suspending operations due to the COVID-19 pandemic should assess the availability of insurance coverage for those losses, particularly under business interruption policies. Even if that coverage…
If, like most lawyers across the country, you’ve been forced to close your physical office, you’re likely scrambling to establish a business continuity plan that includes setting up a remote law office. Fortunately, there is affordable technology that is readily available in 2020 that makes it easier than ever for you to quickly and easily…
In light of COVID-19’s global economic impact, employers continue to face the harsh reality that significant and even perhaps permanent changes to their business, including their workforce, will be necessary. As employers consider their options, unfortunately, closings and mass layoffs are amongst them. In the US, employers must consider the federal Worker Adjustment and Retraining…
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