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Newssquare AUSTRIA - CORONA-RELIEF FUND – GUIDELINE FOR GRANTS TO COVER NON-REPAYABLE FIXED COSTS IN THE TOTAL AMOUNT OF EUR 8 BILLION (FROM THE CORONA-RELIEF FUND)

Starting from 20 May 2020, companies damaged by the effects of COVID-19 can apply for a non-repayable grant to cover their fixed costs ("Fixed Costs Grant").

As a basis for the provision of such grants, the Ministry of Finance has released a draft of the guideline for "grants by the COVID-19 Finanzierungsagentur des Bundes GmbH to cover fixed costs" ("Guideline"). Due to the lack of publication of this Guideline in the Federal Law Gazette (according to the current status as of 21 May 2020), the Guideline has not yet formally entered into force and is therefore, technically speaking, not legally valid. Accordingly, the application form for a Fixed Costs Grant, which is already officially...

Newssquare COVID-19 Logbook: Romanian Legal Updates – Day 62 - 66 - 17th – 19th May

For today's newsletter we shall analyze the following legislation concerning the newly adopted alert status in Romania:

•Government Emergency Ordinance no. 70/2020 (GEO 70/2020) on implementing certain transitory measures in the context of the COVID-19 outbreak;

•Law no. 55/2020 on combating and containing the effects of the COVID-19 outbreak;

•National Committee for Special Emergency Situations Decision no. 24/2020 (CNSSU Decision 24/2020) on approving the national alert status and implementing COVID-19 control and protection measures;

•Government Decision no. 394/2020 (GD 394/2020) on declaring the national alert status and implementing certain measures in the context of the COVID-19...

Newssquare LEGAL AND DIGITAL CHANGE IN THE BULGARIAN INSURANCE INDUSTRY RESULTING FROM COVID-19

The Bulgarian and European insurance industries are experiencing uncertain times amid the effects of the lockdown imposed by national governments in their attempt to control the spread of COVID-19. While some countries are exploring their options for a gradual easing of some of the restrictive measures, the insurance industry will have to prepare for an agile response to COVID-19's effects in order to find a balance between regulatory obligations and solvency positions in the short- to mid-term, and to grow and continue to invest in the business (which is itself is changing) for the long-term. In order to learn more, please download the file below.

Newssquare COVID-19 AND RECAPITALISATION STATE AID: PUBLIC SUPPORT FOR COMPANIES IN THE FORM OF EQUITY OR HYBRID CAPITAL INSTRUMENTS

On 19 March 2020, the European Commission ("Commission") adopted a new Temporary Framework for EU State aid. With the adoption of the Temporary Framework (based on Article 107(3)(b) TFEU), the Commission has shown that EU State aid rules are sufficiently flexible to even cope with the economic shock of the COVID-19 outbreak. The Temporary Framework provides Member States with guidelines when they adopt national aid measures to support companies that are struggling as a result of the COVID-19 crisis. In addition, it ensures that all Member States grant aid under the same conditions, minimises the distortive effect to competition within the internal market and helps to create a level playing...

Newssquare HUNGARY: PROCEDURAL FEATURES FOR ARBITRATION IN VIEW OF THE COVID-19 CRISIS

The state of emergency in Hungary due to the COVID-19 crisis has had an impact on dispute resolution in general. Under the extraordinary circumstances, specific procedural rules shall apply to state court procedures and arbitration procedures which will transform the course of procedures.

In Hungarian and international arbitration practice, this crisis will change the pending arbitration procedures and generate new ones. Parties, counsel and arbitral tribunals face new challenges which require a flexible, innovative and effective approach to such procedures. In order to learn more, please download the file below.

 

Newssquare COVID-19 Logbook: Romanian Legal Updates – Day 61 - 14th May: Commercial

For today's newsletter we shall analyze the following:

•Government Emergency Ordinance no. 66/2020 (GEO 66/2020) on amending and supplementing Government Emergency Ordinance no. 47/2020 on conditions related to petroleum sales in context of the COVID-19 outbreak;

•Government Emergency Ordinance no. 67/2020 (GEO 67/2020) on amending certain normative acts and extending certain terms;

•Ministry of Economy Order no. 1706/2020 on amending Order no. 791/2020 on the issuance of emergency status certificates to companies affected by the COVID-19 outbreak.

In order to learn more, please download the file below.

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