Publications - Banking and Finance
The Financial Shield of the Polish Development Fund
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.
The Polish Act on counteracting COVID-19 entered into force
On 31 March, 2020 an amendment to the Act on specific solutions related to the preventing, counteracting and combating COVID-19, other infectious diseases and crisis situations caused by them, together with other acts (the “Act”) entered…
COVID-19: Companies should be aware of new deadlines and deferrals, as well as to covenant review, analyzing carefully their financial situation
A constant stream of new legislation is being approved that affects businesses. Every week Garrigues provides a summary of the main issues that companies need to take a look at over the coming days. This week we feature the new legislation approved…
COVID-19: Key new legislation introduced in Royal Decree-Law 11/2020
We analyze the measures introduced by Royal Decree-Law 11/2020, from every angle of business law: corporate/commercial contracts, tax, labor and employment, restructuring and insolvency, procedures and administrative law.
Preserving and increasing liquidity in the time of COVID-19
Over the past weeks, Spanish companies and credit applicants from all industries, both essential and non-essential, have been implementing strategies in order to try, as far as they can in the circumstances, to ensure liquidity and minimize the…
COVID-19: Companies face new employee-related measures, the first tranche of guarantees and the beginning of the personal income tax season, among other news
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…
Anti-Crisis Shield - key changes related to the financial market
On 26 March 2020, the Parliament received a governmental bill amending the Act on special arrangements for preventing, counter-acting and combating COVID-19, other infectious diseases and crisis situations caused by them and certain other laws (…
COVID-19: Implemented regulatory solutions for the protection of the Portuguese economy
On March 26, 2020, the Portuguese Government approved Decree-Law nº 10-J/2020 (“Moratorium Regime”), putting into practice exceptional measures for protecting families, companies and welfare institutions, in relation to…
COVID-19: Recommendations for accessing the financing facilities offered under Royal Decree-Law 8/2020
In this article we offer a few recommendations to assist the self-employed and companies with fulfilling the general requirements laid down by the decision for accessing this new financing, and so speed up application procedures at financial…
COVID-19: Official State Gazette publishes decision defining first tranche of guarantees in Spain
This guarantee facility is to be managed by ICO and will cover new loans and other types of financing provided by financial institutions to companies and the self-employed to soften the economic effects of COVID-19.
This is what the new charter for specialized credit institutions (EFC) and hybrid institutions looks like
The new provisions in Royal Decree 309/2020 deal with the authorization regime, cross-border activity, corporate governance principles and compensation policy and the obligations relating to solvency for specialized credit institutions.
COVID-19: What should companies be aware of in the next few days?
The global health alert triggered by the spread of the new coronavirus known as SARS-CoV-2, which causes the disease COVID-19, is creating great challenges for companies. Governments around the world are tackling the situation by approving drastic…