COVID-19: DHSC and MHRA Pave the Way for Increased Ventilator Production
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Court of Appeal Can Compel a Non-Party to an Arbitration Agreement to Provide Evidence
A new decision signals the Court’s readiness to interpret section 44(2)(a) of the Arbitration Act 1996 broadly.
By Oliver E. Browne and Robert Price
In A and B v C, D and E (Taking evidence for a foreign seated arbitration),[1] the Court of Appeal unanimously allowed the taking of evidence from a witness by way of deposition in support of a foreign-seated arbitration, even though the witness was not a party to the arbitration…
Online Marketplace Liability: the CJEU’s ruling … in 60 Seconds
Although the decision appears on its face to be a positive development for online marketplaces, it is does not definitively resolve questions of liability.
By Deborah J. Kirk and Elva Cullen
On 2 April 2020, the Court of Justice of the European Union (CJEU) delivered its ruling in Coty Germany v Amazon — marking a development for online marketplaces in relation to liability issues. The case had raised the possibility that online marketplaces could be…
CMA Launches Online Service for Reporting COVID-19-Related Unfair Commercial Practices
The new service encourages UK consumers to report exploitative sales and pricing practices.
By John D. Colahan and Anuj Ghai
On 4 April 2020, the Competition and Markets Authority (CMA) launched an online service called “Report a business behaving unfairly during the Coronavirus (COVID-19) outbreak” (the Online Service) to allow businesses and consumers to report unfair practices related to COVID-19.
The Online Service launch follows the CMA’s recent guidance warning businesses against exploitative sales and…
New EU Medical Devices Regulation to Be Postponed Until 2021
European Commission proposes one-year postponement in light of the COVID-19 crisis.
By Frances Stocks Allen and Oliver Mobasser
On 25 March 2020, the European Commission announced that it was working on a proposal to postpone the date of application for the new EU Medical Devices Regulation (MDR)[i] for one year, in light of the COVID-19 crisis. The MDR had been due to become fully active on 26 May 2020.
The Commission’s Directorate-General for Health…
Credit Insights – Finding Liquidity Under Loan and Bond Documents
To raise new debt at a time of low liquidity, leveraged and other sub investment grade companies must navigate restrictions in loan and bond documents.
By James Chesterman, Helena Potts, James P. Burnett, and Karan Chopra
Many companies are seeking funding to survive the currently unquantifiable impact of COVID-19. This blog post will consider issues arising in leveraged and other sub-investment grade structures from which all commitments are drawn, or are otherwise…
Changes to Reporting Requirements for Issuers in Light of COVID-19
UK regulators announce a further package of measures to ease the burden on issuers.
By Chris Horton, James Inness, Rob Moulton, Koushik Prasad, Connor Cahalane, and Charlotte Collins
In response to the COVID-19 pandemic, UK regulators have published further measures affecting issuers, to try to preserve the flow of information to investors and support the continued functioning of the UK’s capital markets. However, the FCA has also noted that issuers…
Italian Government Amends List of Essential Activities Annexed to the D.P.C.M.
D.P.C.M. now includes measures for certain manufacturing industries, as well as call centres and civil engineering works, but excludes employment agencies.
By Giancarlo D’Ambrosio and Giovanni B. Sandicchi
By decree of the Ministry of Economic Development, adopted yesterday and in force since today, March, 26, 2020, several amendments have been made to the list annexed to the D.P.C.M. of March 22, 2020.
Specifically, from March 28 to April 3, the suspension of activities comes…
Italy Extends Disclosure Deadline for Intermediaries and Online Portals
CONSOB and Bank of Italy ease compliance obligations during COVID-19.
By Antonio Coletti, Marco Bonasso, and Isabella Porchia
The Italian Securities Commission (CONSOB) and the Bank of Italy have adopted a series of measures to grant intermediaries and online portal managers an extended deadline to comply with their disclosure obligations, and facilitated compliance activities by banks and supervised non-bank intermediaries, due to restrictions imposed by government measures to face the COVID-19 emergency.
Under…
Credit Insights – What Borrowers and Lenders Should Know About MACs During COVID
Material adverse change provisions in credit agreements are under much heightened scrutiny in the current circumstances.
By James Chesterman and Helena Potts
In the current environment, both corporates and their lenders are trying to assess a fast-moving situation. Businesses are suspending operations, countries are limiting travel and non-essential activities, events are being cancelled and consumers are in actual or semi-lockdown.
At present, credit arrangements are an important source of cash for companies, and continuation of…