Regeneration

Impacts of Existing Contracts 

Meeting contractual obligations can be a particularly challenging task for businesses in the times of the postcoronavirus economic downturn. However, if you or your business partners are unable to meet your obligations, you need to act quickly and actively communicate with the other party. Many issues can be resolved by mutual agreement and adjustment of contractual conditions, while litigation is often the very last possibility. What to do if you cannot meet your contractual obligations?

Employees and Home Office

The COVID-19 pandemic and the related government measures pushed employers to think about new ways of working. The already-popular home office proved to be an effective solution in the time of crisis. Even though home office is not suitable for every type of work and, for some companies, it can greatly interfere with the routine ways of an organisations work, quarantine forced companies to come up with fast solutions to make home office possible – at least to a certain extent. Do you know how to set up home office correctly?

Leases

The COVID-19 pandemic and related measures affected both lessors and lessees of apartments and commercial premises, giving rise to new rights and obligations for both parties. New laws have been enacted and subsidy programmes launched due to the pandemic but there have also been other changes and novelties in the real estate law which do not relate to the pandemic directly. How to proceed at present?

Compensation for Wages and Salaries provided by the State (Antivirus)

The Antivirus employment protection programme introduced by the Ministry of Labour and Social Affairs is designed to help companies protect jobs. If companies meet the programme conditions, the state reimburses their wage expenses, helping them to better overcome the difficulties caused by the COVID-19 pandemic and to prevent laying off, at least to a certain extent. The Antivirus programme is currently valid till the end of October 2020; however, the government is currently considering extending it or adopting additional measures for employment protection. What are the individual regimes of the Antivirus programme?

Tax and Customs

Are you faced with a lack of financial resources for the settlement of tax liabilities when getting back into operation? Are you thinking about how to prevent such issues in the future? We have a solution for you!

Compensation from the State

Crisis measures taken during the state of emergency have affected all economic and social sectors. Restaurants, hotels, automotive industry, and social event organisers were the most affected. Businesses that have suffered damage as a result of the crisis measures are entitled to compensation. If this situation also applies to your business, you need to consider two key factors regarding your decision to make a claim. The first is the obligation to act with due managerial care when deciding whether to claim damages. The second factor is the preclusive period to which the claim is linked and comes into action as early as mid-September 2020. Do you know how to claim compensation correctly?

Public Aid and Competition

Both the European Union and the member states are coming up with effective measures to mitigate the impacts of the COVID-19 pandemic, which has had a direct impact on individuals, businesses, as well as the whole economy. Therefore, the governments of individual countries have announced that affected entrepreneurs would be provided compensation. Despite the non-standard situation, competition law is still valid and public funds designated for mitigating the impacts of the pandemic-induced crisis should not, in principle, violate the competition and equal opportunities for businesses. What are the rules for receiving EU public aid?

Electronic Communication and Contracts

Do you need to enter into a contract remotely or communicate with the authorities without a physical presence? If you are moving your business into a digital environment, this material provides an overview of the most important points related to electronic contracting and remote communication.

Credit Financing

Relationships between borrowers and lenders were tested thoroughly during the COVID-19 pandemic. In regards to the crisis situation, the government thus made legislative changes and passed a bill to regulate selected measures concerning loan repayment and an amendment to the Consumer Loan Act. On the one hand, the stabilisation measures aim to ease the situation for all parties affected by the pandemic; on the other hand, they also bring about a number of rather complicated legal and administrative changes. What should you be careful of in the area of loans in the post-COVID-19 era?

Financial Services and the Crisis

Banks, insurance companies and other financial institutions repair the damage caused by the COVID-19 pandemic. It is a long process, though several radical changes are expected in the coming months. The onboarding, financial services distribution and client identification – these are services that need to be fully transferred into the virtual environment. The coronavirus crisis did not only validate the necessity of this digitalisation, but it also became a priceless experience which financial institutions can now draw up on during this transformation. How to provide financial services online during the crisis and afterwards?

Business integrity

In the post-COVID-19 times, there is increased pressure on companies’ managements. They are expected to minimise losses caused by shutdowns, to fully restore business activities and business relationships, and to achieve financial results that were expected before the crisis broke out. During the pandemic and after its end, managements had to be particularly mindful of acting with due managerial care, in order for their decisions not to be questioned in the future. However, the pandemic did not only affect the top levels of companies, as the uncertainty that many employees and managements feel during this period may be reflected in increased misconduct inside organisations.

Recovery

The consequences of the measures adopted in relation to the coronavirus pandemic resulted in a considerable economic slowdown. This situation brings about a threat of a growing number of issues that may undermine the health of businesses. Under these circumstances, restructuring is one of the possible solutions for firms. At these times, economic management of companies requires an especially prudent approach, as ignoring weaknesses in business management, ill-advised steps in a business or investment strategy, limited access to needed funding, underestimation of legislative changes and many other problems may easily direct companies to an existential crisis. Do you know how to successfully plan and implement business restructuring?