Las empresas deben estar atentas esta semana a la fase 1 de la ‘desescalada’, el tercer tramo de avales, la prórroga de los ERTE, el posible retraso en la aplicación de directivas de IVA y de la DAC6 y las medidas de apoyo al sector cultural.

Phase 1 of the ‘scaling-down’ process, third tranche of guarantees, extension of ERTE temporary layoffs, potential delay in the application of VAT directives and of DAC6, and measures to support the cultural sector

In collaboration with our foreign law firm partners, we continue to update our chart of COVID-19 measures taken by governments around the world. Today’s update includes new information for many countries as indicated in the chart: Global Government Measures Taken in Response to COVID-19.

The emergence of COVID-19 (the Coronavirus) at the end of 2019 has had an unprecedented impact on the global economic system. This alert focuses on the effect the Coronavirus pandemic is likely to have on small and medium sized businesses (SMEs), their lenders in the UK and the options available to continue trading and avoid insolvency.

Esta semana abordamos la reapertura al público de establecimientos, los efectos del RDL 16/2020 en materia procesal, concursal y tributaria, las medidas laborales ante la ‘desescalada’ y las novedades en trámites administrativos

Due to the global crisis caused by the COVID-19 pandemic, the Thai Government has implemented a number of important initiatives aimed at supporting the Thai economy and affected industries.

As part of these initiatives, the Ministry of Finance of Thailand has enacted several important short terms and medium terms tax relief measures to support individual and corporate entities in Thailand to ease the hardships faced by many during these uncertain times. Set out below is a summary of these measures.

Defer tax filings and payments

International Trade Compliance (Covering Customs and Other Import Requirements, Export Controls and Sanctions, Trade Remedies, WTO and Anti-Corruption) In This Issue: World Trade Organization (WTO) World Customs Organization (WCO) Other International Matters The Americas - Central America The Americas - North America The Americas - South America Asia-Pacific Europe and Middle East Africa Trade compliance enforcement actions - import, export, IPR, FCPA Newsletters, reports, articles, etc. Webinars, Meetings, Seminars, etc.

Year in Review – Latin America in 2016

Argentina

Sovereign debt restructuring: On April 22, 2016, after Congress approved a settlement proposal, Argentina issued US$16.5bn of new debt securities in the international capital markets, and applied US$9.3bn of these proceeds to satisfy settlement payments on agreements with holders.          

In Ambiente Ufficio S.p.A. and others v Argentine Republic, an ICSID tribunal held that it had general jurisdiction over a multi-party claim commenced by 90 distinct Italian nationals against Argentina in respect of harm said to result from Argentina’s default and later partial restructuring of its sovereign debt. It might at first blush appear that the tribunal’s willingness to admit a 90-party claim is an affirmation of the favourable approach to so-called “mass claims” taken by its “sister tribunal” in Abaclat (and others) v The Argentine Republic.

Directors of Australian companies face significant personal monetary – and potential criminal and adverse professional – consequences if they allow the company to trade whilst insolvent.

Australian insolvent trading laws are harsher, and more frequently utilised to prosecute directors personally, than in many other jurisdictions including in the US and the UK.

Accordingly, frequent assessment of a company’s solvency by its directors is crucial, particularly in financially difficult times, as are active steps to address any potential insolvency.