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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.

Newssquare COVID-19 Logbook: Romanian Legal Updates – Day 41-53 – 24th April - 7th May: State-Aid/ Healthcare/ Dispute resolution/ Fiscal/ Food retail/ Transportation/ TMT

For today's newsletter we shall analyze the following:

•Military Ordinance no. 10/2020 regarding several measures on limiting the spread of COVID-19;

•Law no. 51/2020 for the amendment and completion of Framework Law no. 153/2017 on the remuneration of staff paid from public funds;

•Government Emergency Ordinance ("GEO") no. 56/2020 on implementing certain temporary measures in the context of the COVID-19 outbreak;

•Governmental Decision no. 326/2020 on amending the Methodological Norms for IMM INVEST ROMANIA;

•Finance Minister Order no. 1886/2020 for approving the transfer mechanism of grants for SMEs state aid program IMM Invest;

•Press release issued by ANAF;

•Press release issued...

Newssquare Slovenia – Courts in times of Corona

The amendment to the COVID-19 Measures Act published on 30 April 2020 is the first step towards a continuation of judicial proceedings. The president of the Supreme Court allows court hearings to take place through video conferencing.

Creditors have noted a deterioration in payment discipline on the part of their debtors which is (at least partly) caused by the official measures aimed at curbing the COVID-19 outbreak. Under the act on extraordinary measures for courts and administrative authorities ("COVID-19 Measures Act") the time limits were suspended and the service of relevant documents was likewise stopped. An amendment to the COVID-19 Measures Act entered into force on 1 May 2020...

Newssquare THE FEDERATION OF BOSNIA AND HERZEGOVINA: MUCH ANTICIPATED LEGISLATION ADOPTED TO MITIGATE ECONOMIC EFFECTS OF COVID-19

On 4 May 2020, the Parliament of the Federation of Bosnia and Herzegovina (FBIH) adopted the Law on the Mitigation of the Negative Economic Consequences of COVID-19 (Stabilization Law) in the urgent parliamentary procedure. The Stabilization Law should become effective on the next day after the day of its publication in the Official Gazette of FBiH, which is expected shortly. It will be valid through the duration of the state of emergency and 60 days thereafter. The Federal Tax Authority is tasked with adopting the relevant implementation instructions within ten (10) days from the day it becomes effective. In order to learn more, please download the file below.

Newssquare SLOVENIA ADOPTED MUCH AWAITED LIQUIDITY MEASURES FOR BUSINESSES

On 1 May 2020, the Act on Additional Liquidity to the Economy to Mitigate the Effects of the COVID-19 Infectious Disease Epidemic ("COVID-19 Liquidity Act) came into force. It aims to facilitate the provision of liquidity by banks through an incentive in form of a state guarantee of up to EUR 2 billion. In the file below, we summarize the main legal solutions.

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