Gerade im Anbetracht der aus der Corona-Pandemie folgenden Krise stellt sich die Frage: Was passiert mit Token in der Insolvenz, insbesondere, wenn sie von einem Dienstleister für seine Kunden verwahrt werden?

Especially in view of the crisis resulting from the Coronavirus pandemic, the question arises: What happens to tokens in insolvency, especially if they are held in safekeeping by a service provider for his customers?

The UK Government has proposed legislation to address the difficulties faced by UK companies as a result of the COVID-19 pandemic when it comes to holding meetings of shareholders and filing documents with the UK Registrar of Companies (Companies House).

One of the landmark protections enacted by the Coronavirus Aid, Relief and Economic Security, or CARES, Act on March 27 was the Paycheck Protection Program, or PPP. Under the program, small businesses (e.g., those with fewer than 500 employees) — and certain other businesses in specific industries — are eligible to receive loans that will be fully forgiven if utilized under the terms of the program, including applying at least 75% of the funds received from the loans to payment of payroll expenses.

One of the landmark protections enacted by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was the Paycheck Protection Program (“PPP”). Under the PPP, small businesses (businesses with fewer than 500 employees) are eligible to receive loans that will be fully forgiven if utilized under the terms of the Program, including applying at least 75% of the loans to payroll. The loans may also be used for payment of interest on mortgages, rent, and utilities. The PPP loans are capped at $10 million for each small business.

Lockdown, shutdowns, drops in revenue and related negative impacts of the COVID-19 pandemic faced by companies even still operating and in a healthy state have prompted the Czech government to respond to this situation and implement statutory measures to mitigate such impacts (the so-called LEX COVID), also in the area of insolvency. Most of such measures are only temporary during the extraordinary measures taken by public authorities during the COVID-19 pandemic. LEX COVID, which brings the below-mentioned changes, has already been enacted and came into force on 24 April 2020.

As a director or manager of a UAE company, you will know that like individuals, companies experience times of good health and occasional periods of sickness.

In this note, we focus on you, as directors (which includes managers) of “onshore” limited liability companies (“LLCs”), noting of course that the rules may also apply to certain free zone entities as well. We want you as directors to be certain of your duties and responsibilities in the good times but also sure of the actions you should or could take if things go wrong for your company, and financial difficulties arise.

3 Questions Every Company Should Ask Now

Economic stimulus packages, like the CARES Act, will provide some financial relief for Americans reeling from the impacts of the coronavirus pandemic. Unfortunately, unscrupulous fraudsters will manipulate these financial lifelines and the instability that has taken hold of so many households. This means government investigators across all jurisdictions will be on high alert and more active than ever.

Als Teil des gesetzgeberischen Maßnahmenpakets zur Abmilderung der wirtschaftlichen Auswirkungen der COVID-19-Pandemie erleichtert das COVID-19-Insolvenzaussetzungsgesetz (COVInsAG) die rechtssichere Finanzierung kriselnder Unternehmen und setzt Anreize an deren Gesellschafterkreise: der Nachrang von Gesellschafterdarlehen und das Erfordernis eines Sanierungsgutachtens sind durch das COVInsAG suspendiert.

In the past few years, many automotive suppliers have been facing increasing financial or operational problems. The COVID-19 pandemic has exacerbated these problems and is putting some of these companies in considerable distress. The search for possible solutions is in full swing, and for financial investors or competitors with strong liquidity, there is the opportunity to acquire shares in the companies in crisis or alternatively in individual assets at comparatively favourable conditions.