On March 27, 2020, Congress enacted, and President Trump signed into law, the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide financial relief to individuals and small business harmed by the coronavirus disease 2019 (COVID-19) pandemic. The CARES Act included an initial allocation of $349 billion to the Paycheck Protection Program (PPP), a convertible loan program under Section 7 of the Small Business Act (SBA).

A government press release issued on 23 April 2020 will be welcomed by commercial tenants up and down the country, particularly those in the retail and leisure industries, but it will not make such welcome reading for landlords.

In the current climate many commercial tenants are having a difficult time and consequently so too are landlords. The government has urged landlords and investors to work collaboratively with high street businesses which have found themselves unable to pay their rent during the COVID-19 pandemic.

Despite what seemed like three months ago to be something only happening a very long way away, and would hopefully dissipate as quickly as it started, the Coronavirus pandemic has well and truly arrived on our shores.

Daily news reports are revealing the far-reaching effects of the outbreak, the likes of which have not been seen for generations. In what form, and to what extent, the health, financial and social implications will be in the aftermath of the pandemic remain an unknown quantity for us all.

The outbreak of coronavirus COVID-19 represents one of the most significant global public health crises in recent memory and is causing major disruption and unprecedented volatility in markets, economies and businesses. With such great social and economic uncertainty, it is inevitable that existing financial arrangements will be affected and asset-based lenders (ABLs) are not immune to this. They are, however, uniquely positioned – given the flexibility of the products they offer – to react to the ever-changing economic landscape.

The on-going impact of the COVID-19 outbreak could have a significant impact on your global supply and customer chains. We can assist in responding to such risks in the various jurisdictions in which you operate, source materials and/or supply products and services.

Please click here for further information on the key warning signs and early action points.

In the following, we provide an overview of government assistance that has already been implemented or is planned to mitigate the effects of COVID-19. The KfW Special Program is available as of March 23, 2020 and applications can be submitted. Please be advised that changes may occur at any time.

We are happy to assist you as you move forward and design a targeted and tailor-made reaction to the current challenges.

In response to the global outbreak of coronavirus disease 2019 (COVID-19), governments in many countries have issued emergency legislation to mitigate the impact of the pandemic on companies’ day-to-day operations. Since March 24, 2020, the Indian government has been announcing various measures aimed to ease corporate and tax compliance for companies doing business in India, as well as other measures pertaining to employment and bankruptcy matters. Below is a high-level overview of some of the most relevant aspects of these measures as they pertain to India subsidiaries of US companies.

In response to the coronavirus outbreak, a number of government and central bank measures are available to businesses in Europe. Additionally, insolvency laws have been updated. Our guidance outlines what this means to businesses in 14 countries: Austria, Belgium, Denmark, Finland, Germany, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain and UK.

The outbreak of coronavirus COVID-19 represents one of the most significant global public health crises in recent memory and is causing major disruption and unprecedented volatility in markets, economies and businesses. With such great social and economic uncertainty, it is inevitable that existing financial arrangements will be affected and asset-based lenders (ABLs) are not immune to this. They are, however, uniquely positioned – given the flexibility of the products they offer – to react to the ever-changing economic landscape.

The Australian Government has passed the "Coronavirus Economic Response Package Omnibus Bill 2020". The new legislation was announced on Sunday 22 March 2020 and was fast tracked through parliament as part of the Australian Government's response to the economic impact of COVID-19.