Garrigues has been publishing this newsletter since March 23 in an effort to bring you all the regulatory matters that week in week out required particular attention by companies in every area of business law. Since the state of emergency is about to finish, this will be the last edition of a publication that we hope has served its purpose. From now on, we will continue to keep you informed in our usual formats (Alerts, Commentaries, Viewpoints or Newsletters).
El pasado 9 de mayo de 2020 el BOE recogió la Resolución de 6 de mayo de 2020, de la Secretaría de Estado de Economía y Apoyo a la Empresa, por la que se publicó el Acuerdo del Consejo de Ministros de 5 de mayo de 2020 que estableció los términos y condiciones del tercer tramo de la línea de avales a préstamos concedidos a empresas y autónomos, a los pagarés incorporados al Mercado Alternativo de Renta Fija (MARF) y a los reavales concedidos por la Compañía Española de Reafianzamiento, SME, Sociedad Anónima (CERSA).
Under the argument that the Covid19 outbreak has resulted in the reduction of electric energy consumption by end users in Mexico and, therefore, the reliability of power supply should be strengthened, the National Center for Energy Control (CENACE) issued a ruling in connection with the Market Information System on May 1 dated April 29, pursuant to which it decrees the technical measures to be followed to guarantee the efficiency, quality, reliability, continuity and security of the National Electric System (SEN). In the face of these actions, companies can consider some legal actions.
On May 8, 2020 the European Commission announced a second amendment to the Temporary Framework adopted on March 19, 2020, amended for the first time on April 3, 2020, in which the framework is extended to allow aid to be authorized in the form of recapitalization or subordinated debt to any non-financial companies in need.
Phase 1 of the ‘scaling-down’ process, third tranche of guarantees, extension of ERTE temporary layoffs, potential delay in the application of VAT directives and of DAC6, and measures to support the cultural sector
During the state of emergency, various pieces of legislation have been published which affect the corporate bodies of companies. Some of the key new provisions affect matters relating to winding up and shareholders’ right of withdrawal.
Royal Decree 494/2020, of April 28, 2020, amends the system of control of foreign trade and, among other measures, provides the Inter-ministerial Regulatory Board on Foreign Trade in Defense and Dual Use Goods (JIMDDU) with greater functions, having the authority also to establish, on an exceptional basis, mechanisms for verification, monitoring and cooperation in relation to goods exported in certain transactions even with the involvement of the government of the importing country.
The various pieces of legislation published during the state of emergency, together with statements by registrars and by the CNMV, have created a new exceptional regime governing the corporate bodies of commercial companies, which makes it necessary to structure this new legislation, by summarizing the measures and their implications depending on the body concerned and making a distinction between listed and unlisted companies.
Reopening to the public of establishments, effects of RDL 16/2020 on procedural, insolvency and tax matters, labor measures in preparation for de-escalation and news on administrative procedures
We analyze Royal Decree-Law 16/2020, of April 28, 2020, published in the April 29 edition of the Official State Gazette (BOE), adopting procedural and organizational measures to confront COVID-19 (RDL 16/2020). And entering into force on April 30, 2020 (the day after its publication in the Official State Gazette).