Jurisdiction to hear a case related to a temporary layoff procedure due to force majeure caused by COVID-19 lies with labor courts not the insolvency judge
Decision by León Commercial Court, April 1, 2020
In this study dated on December 3, 2019 the European Commission analyzes the legal frameworks on insolvency and defaults in the various member states; specifically, the various individual and collective loan enforcement systems –and their effectiveness for recovering non-performing loans (NPLs).
The Financial Shield of the Polish Development Fund is a solution aimed at supporting enterprises which have suffered losses as a result of the coronavirus epidemic.
For another week running, Garrigues examines the key legal issues that companies should be aware of to continue forward in the current context.
The Government has put in place substantial measures that are intended to help mitigate the devastating effect of Covid-19 on the UK economy. Many businesses are now facing their toughest test in living memory. Yet even as the UK endures extraordinary lockdown measures, and with some 3.9 billion people in global isolation, directors of UK companies must continue to try and keep their businesses out of insolvency.
El nuevo Decreto 560 de 2020 prevé una serie de medidas de flexibilización y celeridad en los procesos de reorganización, con el fin de afrontar el escenario de alto riesgo de insolvencia que se presenta en el país como consecuencia del Estado de Emergencia Económica, Social y Ecológica.
Estas medidas tendrán una duración de hasta 2 años y se resumen en las siguientes:
Creación de procesos extrajudiciales
Trámite de negociación de emergencia
Las novedades regulatorias que afectan a las empresas se están aprobando de forma constante y continuada. Semana a semana, Garrigues ofrece un resumen de las principales cuestiones que deben tener en cuenta las empresas a lo largo de los próximos días.
Reopening to the public of establishments, effects of RDL 16/2020 on procedural, insolvency and tax matters, labor measures in preparation for de-escalation and news on administrative procedures
Following the outbreak of a global pandemic unprecedented in recent memory, the UK is now reeling from the devastating effects of the coronavirus. Small and medium-sized businesses throughout the nation will already have been forced to come to terms with this new reality, through a combination of staff illness, forced closures, supply chain disruption and loss of business.
The toughening of lockdown measures in Spain and resulting closure of all business activities not classed as essential makes it absolutely necessary to keep very much in sight this week the measures approved in the labor and employment field. In the domain of corporate law and commercial contracts, the decision governing the first tranche of guarantees to soften the economic effects of the crisis has already been published in the Spanish Official State Gazette (BOE). As for tax matters, the personal income tax and wealth tax season is about to start.