The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:
On 27 March 2020, the president signed the CARES Act into law. The CARES Act is a stimulus package designed to address the impact of the novel coronavirus (COVID-19) on, among others, individuals, businesses, and hospitals. As part of this design, the CARES Act revises several sections of the Bankruptcy Code to afford relief to small business debtors and individuals that are coping with the coronavirus pandemic and its financial impact. These changes are effective immediately. This chart shows the Bankruptcy Code changes contained in the CARES Act.
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Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been introduced, which affect the following:•proceedings for possession•forfeiture of business leases on the grounds of non-payment of rent•a landlord's right to
The right to notice means a right for the employee to remain in employment for the period of notice, not simply to be paid for it. An employer will therefore often include in the contract an express right to make a payment in lieu of notice ('PILON') as an alternative to giving notice, to ensure
IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal system of the religion of Islam that sets out a system of duties or code of conduct for individuals to follow so that they may live their life in a
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