National Security > COVID-19 Resource Center
09 Apr '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the UAE.

Read more to access the latest updates on the Government and Industry Actions across the UAE.

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09 Apr '20

Equity investors and sponsors are actively reviewing the financial needs and business operations of their portfolio companies. As a result of the economic upheaval and government-mandated social restrictions imposed by the blistering spread of COVID-19 around the world, there are a number of challenging decisions that will need to be made with significant speed and limited information. Accordingly, it is important to consider the responsibilities and duties that attach to equity investors and sponsors who are deemed “controlling equityholders” under applicable law.

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08 Apr '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the UAE.

Read more to access the latest updates on the Government and Industry Actions across the UAE.

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08 Apr '20

Congress, Administration Call for Additional Emergency Coronavirus Relief – Differences Remain

In coordination with congressional Republican leadership (and with little advance notice to their Democratic counterparts), Treasury Secretary Steven Mnuchin requested immediate additional, interim funding for the Paycheck Protection Program (PPP) for small businesses. Senate Majority Leader Mitch McConnell (R-KY) quickly released a statement indicating that he plans to work with Secretary Mnuchin to approve funding for the program by unanimous consent or voice vote as soon as the next Senate session tomorrow, Thursday, April 9.

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08 Apr '20

On April 3, 2020, the Chancellor announced the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) to be made available to UK businesses with an annual turnover of between £45 million and £500 million and will see the UK government guarantee 80 percent of new loans up to £25 million.  The CLBILS is intended to give banks “the confidence to lend to more businesses which are impacted by COVID-19 but which they would not lend to without CLBILS.” It appears that the CLBILS is intended to operate in a similar manner to the current Coronavirus Business Interruption Loan Scheme (CBILS) aimed at UK SMEs – however, further details will be announced by the UK government later in April.  Other than differences in turnover thresholds and the size of loans available, it remains unclear what other key differences will ultimately exist between the CLBILS and CBILS. However, it does appear that CLBILS will (i) not include coverage for the first 12 months of interest and fees as is currently available under the CBILS, and (ii) only apply where borrowers have been unable to secure regular commercial financing in the first instance.

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07 Apr '20

Federal and state court proceedings have been deeply impacted by the COVID-19 crisis. Further, courts who were already experiencing a backlog may also see an increase in claims in the entertainment space due to production delays and shutdowns. In this alert, Akin Gump litigators discuss the trial backlog that will predictably increase once courts reopen to civil matters and review considerations for litigants and their lawyers who may consider utilizing arbitration to avoid further delay.

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07 Apr '20

Whatever your business—whether you are an investor looking at new investments, managing existing positions or planning exits, or a corporate concerned with protecting and enhancing your business—the current public health crisis has brought a host of additional risks and challenges to the UAE.

Read more to access the latest updates on the Government and Industry Actions across the UAE.

Read More