Como ya hiciera la Comisión Europea con su instrumento de liquidez para apoyo a la solvencia (Solvency Support Instrument) lanzado a finales de mayo y cuyos rasgos generales se describen aquí, el Gobierno de España ha creado, mediante el Real Decreto-ley 25/2020, un nuevo fondo para intentar prevenir las insolvencias

On June 2, 2020, Judge Donald R. Cassling of the United States Bankruptcy Court for the Northern District of Illinois held that a state executive order suspending dine-in services to address the COVID-19 pandemic (the “Executive Order”) constituted a force majeure event that partially excused performance under the applicable lease agreement. In re Hitz Restaurant Group, No. 20-B-05012, 2020 WL 2924523 (Bankr. N.D. Ill. June 2, 2020).

NORTHERN DISTRICT OF ILLINOIS BANKRUPTCY COURT HOLDS THAT EXECUTIVE ORDER BARRING RESTAURANT OPERATIONS ON-PREMISES IN LIGHT OF COVID-19 IS A FORCE MAJEURE EVENT THAT PARTIALLY EXCUSES DEBTOR RESTAURANT’S PAYMENT UNDER THE LEASE

Desde el pasado 23 de marzo, con esta newsletter en Garrigues hemos hecho un esfuerzo por acercaros aquellos temas regulatorios de los que semana a semana las empresas teníais que estar más pendientes desde todas las áreas de práctica del derecho de los negocios. Dado que el estado de alarma toca a su fin en unos pocos días, esta será la última entrega de una publicación que esperamos haya cumplido su función. A partir de ahora, os seguiremos manteniendo informados a través de nuestros formatos habituales de Alertas, Comentarios, Perspectivas o Newsletters.

Following the introduction of the Corporate Insolvency and Governance Bill into Parliament on May 20, 2020, the U.K. government has published a series of guidance notes on the measures proposed in the Bill. The proposed measures, first announced by Secretary of State for Business, Energy and Industrial Strategy on March 28, 2020, are intended to protect companies and businesses facing major funding and operational difficulties in the current COVID-19 pandemic. Once final, the Bill will amend current U.K.

Preparation of financial statements and corporate income tax, recommencement of time periods, remote trials, gradual return to workplaces, insolvency proceedings and compliance with criminal law

Los plazos administrativos se reanudarán el próximo 1 de junio, mientras que los plazos procesales y sustantivos lo harán el 4 de junio, tal y como aparece contemplado en el BOE del 23 de mayo de 2020.

The U.K. Government has published the U.K. Corporate Governance and Insolvency Bill. The Bill amends aspects of insolvency and company law to assist firms struggling to cope with the effects of the COVID-19 pandemic. The measures include: 

New guarantee facility, extension of ERTE temporary layoff procedures, effects of the crisis on transfer pricing, return to judicial activity and ‘shields’ for businesses.

Esta semana cabe destacar la nueva línea de avales, la prórroga de los ERTE, los efectos de la crisis en los precios de transferencia, la vuelta de la actividad judicial y los posibles ‘escudos’ para empresas en dificultades.