In recent years, we have witnessed the rise of international sanctions and the increase of export and import controls. This, together with the blocking regulation (with which third countries try to mitigate the extraterritorial effects of US sanctions) has added uncertainty to international trade. Continue Reading
CFIUS During COVID-19 Pandemic
In an unfolding pandemic, CFIUS remains a vital step in clearing M&A transactions. Continue Reading
Coronavirus (COVID-19) Update: Trade, Supply Chains and Defense
As world leaders and healthcare professionals respond to the COVID-19 pandemic, businesses around the world have been forced to adapt to new restrictions, unpredictable supply chains and a limited workforce. For medical and pharmaceutical products, demand is high and the efficient movement of inputs is critical. For many other industries, dwindling consumer demand is already cutting deep. Continue Reading
The Emergence of Polarity in the Outcome of the EU-27-UK’s Future Relationship; COVID-19 Hinders Negotiation Progress
The EU-27 and the UK have exchanged draft negotiating texts on their future trading relationship following the UK’s decision to leave the EU, indicating a polarity about how both sides see this future relationship. Continue Reading
After Flattening the COVID-19 Curve, China Says No To Foreigners . . . For Now
Effective at midnight China Standard Time on Saturday, March 28, 2020, China is temporarily suspending the entry of foreign nationals who hold a valid ordinary visa or residence permit. Continue Reading
EU Commission Updates Guidance on FDI Screening in the EU; Citing COVID-19 Concerns
On March 25, 2020, the European Commission published a Guidance addressed to Member States on the application of foreign direct investment (FDI) Screening Regulation 2019/452 in the EU and restrictions on free movement of capital from third countries. The Guidance relates to the Coronavirus Disease 2019 (COVID-19) pandemic. Continue Reading
COVID-19 Alters Global Shipping – US Senate Offers Some Economic Relief
The coronavirus’ impacts on global shipping are growing every day. While borders around the world generally remain open for cargo at this time, the cost of trans-Pacific and -Atlantic shipping of goods has increased substantially as a result. Continue Reading
Italy and COVID-19: Legal Overview on Key Business Issues
This post is being published for The Trade Practitioner to highlight our global effort to provide support and advice to help businesses navigate legal issues and manage risk. Please visit our Coronavirus COVID-19 resource hub for additional information.
The recent outbreak of the coronavirus disease 2019 (COVID-19) has rapidly evolved from a local issue to a global crisis. In addition to the tragic human loss, the disease is having, and will continue to have, a profound economic impact. Continue Reading
US Department of Defense (DoD) Clarifies the Defense Industrial Base as Essential Critical Infrastructure
On March 20, 2020, Under Secretary of Defense for Acquisition and Sustainment Ellen Lord issued a memorandum to the Defense Industrial Base (DIB), clarifying what is considered the Essential Critical Infrastructure Workforce in light of the coronavirus disease 2019 (COVID-19) (the “Memo”). The Memo can be found here. Continue Reading
Existing Restrictions May Preclude PE-Backed Small Companies From Getting Relief Under The COVID-19 Stimulus Bill
This post is being published for The Trade Practitioner as part of a content partnership with our COVID-19 resource hub. Please contact Danielle Asaad, Pablo E. Carrillo and Kirk Beckhorn with any questions.
As we start this week, lawmakers on Capitol Hill continue their efforts to overcome differences on the proposed legislation to provide emergency assistance to individuals, families and businesses affected by the coronavirus pandemic.
The legislation proposed by the Senate includes approximately US$300 billion in small business interruption loans, as well as up to US$500 billion in assistance to distressed businesses, states and localities, either in the form of a direct loan or backstop of losses in lending facilities launched or expanded by the Federal Reserve.
The goal of the proposed legislation is to protect millions of American jobs and businesses in distress due to the coronavirus pandemic. However, because the proposed legislation would preclude certain small companies that are affiliated with private equity funds, its enactment may likely result in the bankruptcy of many of these small companies and the loss of many American jobs. Continue Reading
