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PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is no longer maintained. It tracked the progress of EU legislative proposals and consultations relevant to the life sciences sector between 2019–2022 which were independent of events specifically related to the coronavirus (COVID-19) pandemic and Brexit during that period which have their own dedicated, archived trackers. This tracker is divided into the below sections: • Legislation • Consultations To track the progress of current EU legislative proposals, consultations and developments, as well as significant cases, which are relevant to the life sciences sector, see Practice Notes: Life sciences tracker—EU, Life sciences cases tracker—EU and Patents tracker—EU. To track the progress of current UK legislative proposals, consultations and developments, as well as significant cases, which are relevant to the life sciences sector, see Practice Notes: Life sciences tracker—UK and Life sciences cases tracker—UK. For a summary listing all life sciences trackers, see: Trackers (Life Sciences)—overview. For older archived items about developments in the life sciences or those related to the coronavirus (COVID-19) pandemic or Brexit,
Q&As
Forthcoming expiry of limitation It is important to ensure that you comply with the time frames provided for under the Limitation Act 1980 (LA 1980) (or other applicable limitation provisions), since a failure to do so can enable a defendant to have a complete defence. As a general point, LA 1980 is primary legislation, and the government’s response to the coronavirus pandemic has not included any changes to, or suspension of, the effect of that legislation. For general guidance on limitation periods under LA 1980, see Practice Note: Limitation—the principal limitation periods. In order to bring a claim within the limitation period, the court needs to receive the claim form and correct court fee in time.
PRACTICE NOTES
This archived Practice Note considered the key issues for Corporate practitioners in relation to the coronavirus (COVID-19) pandemic. It has not been updated since May 2022. General meetings and AGMs The coronavirus outbreak raised immediate legal and practical issues for companies which were seeking to hold their annual general meeting (AGM) or other general meetings. For further details, see Practice Note: Coronavirus (COVID-19)—holding general meetings and AGMs. Latest guidance for company meetings in 2021 Chartered Governance Institute guidance for company meetings in 2021 On 24 February 2021 the Chartered Governance Institute (CGI) issued updated guidance (2021 Guidance) in anticipation that general meetings would be required to be held on a closed basis until at least 17 May 2021 and possibly until at least 21 June as a result of the government’s ‘stay at home measures’. The 2021 Guidance was produced by a working group comprising the City of London Law Society Company Law Committee and Martin Moore QC, with the support of the Department for Business, Energy and Industrial Strategy (BEIS) and the Financial
PRACTICE NOTES
ARCHIVED: This Practice Note was archived in April 2022 and is not maintained. Up to date information on the financial support given by the government during the COVID-19 pandemic can be found on the British Business Bank website. Scope This Practice Note, produced in partnership with James Collis and John Alderton of Squire Patton Boggs LLP, summarises the various schemes and support measures introduced by the UK government to assist businesses in their response to the COVID-19 pandemic. It may be easier to read this Practice Note by downloading a copy using the button on the top left and changing the page layout to landscape. Financing Facility Support What help is available? What does the help entail? Which companies are eligible? What are the criteria (if any) for applying? How to apply Availability? Recovery Loan Scheme (RLS) • This replaced the previous coronavirus (COVID-19) loan schemes when they closed• The loans are available through a network of accredited lenders• Ensures businesses of any size can continue
PRACTICE NOTES
ARCHIVED: This archived Practice Note is not maintained and is for background information only. This Practice Note considers the impact of the coronavirus (COVID-19) pandemic on contentious trusts and estates. For general dispute resolution guidance, see Practice Note: Coronavirus (COVID-19) implications for dispute resolution [Archived]. The six-month time limit to make a claim under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975) is due to expire shortly, but I am concerned that it might not be possible to engage with the other side and I am concerned about issuing the claim due to potential coronavirus (COVID-19) related issues. What should I do? An action under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975) should generally be commenced before the expiration of six months from the date of a grant to the estate. An application after that date can only be made with the permission of the court. See I(PFD)A 1975, s 4: ‘An application for an order under section 2 of this Act shall not, except with the permission
Q&As
For information on quarantine measures for individuals travelling to England during the coronavirus (COVID-19) pandemic, see Practice Note: Coronavirus (COVID-19)—sickness and other absence [Archived], in particular section: Quarantine measures for those travelling to England. How employers choose to deal with an employee whose holiday plans would require them to quarantine, or self-isolate, on their return may depend on: • whether the employee will be able to work from home during their quarantine period • the nature of the holiday entitlement in question, ie whether it is the employee's statutory entitlement under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833 or contractual In relation to statutory basic and additional holiday entitlement, the timing of leave is regulated by WTR 1998, SI 1998/1833, reg 15. However, these rather prescriptive provisions are subject to variation or exclusion by the employment contract or another relevant agreement.
PRACTICE NOTES
ARCHIVED: This Practice Note is archived and is no longer maintained. Lawyers across the world are currently grappling with many common areas of concern in connection with the coronavirus (COVID-19) pandemic. There are also a large number of areas that are of particular concern to Banking & Finance lawyers. This Practice Note considers questions that are frequently being asked in the current environment and brings together key content and resources published across Lexis®PSL. It is updated regularly with practical guidance and analysis which cover the impact of COVID-19 developments. Due diligence and preliminary analysis Question Resources which may help What is the Coronavirus Business Interruption Loan Scheme and how can borrowers access it? Q&A: What is the Coronavirus Business Interruption Loan Scheme and how can borrowers access it? Is there any specific law creating the Coronavirus Business Interruption Loan Scheme? Q&A: Is there any specific law or regulations in force that created the Coronavirus Business Interruption Loan Scheme scheme? If so, what are they? Or is the British Business
Q&As
The restrictions on forfeiture of a business tenancy on the grounds of non-payment of rent contained in section 82 of the Coronavirus Act 2020 (CA 2020) have been extended to 25 March 2022 in England and to 30 September 2021 in Wales. This is to allow time for legislation to be introduced to ‘ringfence’ debt accrued from March 2020 and to establish a binding arbitration system to deal with disputes regarding unpaid arrears which accrued during the coronavirus (COVID-19) pandemic, where landlords and tenants are unable to reach a negotiated settlement. The forfeiture restrictions may therefore be lifted before expiry of the current deadline if the proposed legislation is put in place
PRACTICE NOTES
Background The coronavirus (COVID-19) pandemic has led to unprecedented social distancing measures and lockdowns being introduced by governments around the world. In the UK, this has had a significant impact on the ability of the courts, and court users, to carry out their normal functions. In response, the courts are operating under new protocols and procedures—see Practice Note: Coronavirus (COVID-19)—Changes to the court process in insolvency proceedings [Archived]. To supplement these changes, and in order to deal with specific challenges relevant to insolvency proceedings, a new Temporary Insolvency Practice Direction ( TIPD ) was introduced with effect from 6 April 2020—see: Issue 96 of Insolvency Service’s Dear IP published, LNB News 06/04/2020 90. The TIPD expired on 1 October 2020 and was replaced by the Temporary Insolvency Practice Direction Supporting the Insolvency Practice Direction (in force from 1 October 2020 until 31 March 2021). This has since been replaced by further temporary practice directions, the most recent of which expires on 30 September 2021—see Practice Note: The Temporary Insolvency Practice Direction Supporting
PRACTICE NOTES
A number of temporary changes were introduced by government in relation to accessing Statutory Sick Pay (SSP), and SSP rules, in response to the coronavirus (COVID-19) pandemic. These changes have been reversed following the government’s decision to remove coronavirus restrictions in 2022 and, in particular, the publication of the government’s plan for living with COVID-19 on 21 February 2022. The temporary changes to SSP introduced during the pandemic, together with a summary of developments in relation to their removal, are listed below: • those who self-isolated or were required to shield from time to time because of coronavirus were potentially deemed incapable of working, and, therefore, entitled to SSP (see: SSP entitlement extended to those who self-isolate below). These deeming provisions were revoked by the Statutory Sick Pay (General) (Coronavirus Amendment) Regulations 2022, SI 2022/380, in force on 25 March 2022 (see: LNB News 25/03/2022 5). This means that from 25 March 2022, if an employee tests positive for coronavirus, in order to qualify for SSP they
PRACTICE NOTES
Background This archived Practice Note considered the impact that the coronavirus (COVID-19) pandemic on the preparation and filing of a company’s report and accounts. It has not been updated since May 2022. Disclosure of principal risks The Companies Act 2006 (CA 2006), the UK Corporate Governance Code (UKCG Code) and the Disclosure Guidance and Transparency Rules (DTRs) contain overlapping requirements for companies to disclose the principal risks facing their business in their annual and interim financial reports: • the CA 2006 requires all UK incorporated companies (except for small companies) to prepare a strategic report for each financial year of the company. This report must include, among other things, ‘a fair review of the company’s business, and a description of the principal risks and uncertainties facing the company’ • the UKCG Code requires the board of directors of a premium listed company to carry out a robust assessment of the company’s emerging and principal risks and to confirm in the annual report that it has completed this assessment, including a description of its principal
PRECEDENTS
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature. For news and guidance as to the implications from a property perspective see: Coronavirus (COVID-19)—implications for property — Property Insolvency. Panel 4—Transferor [insert name of the registered proprietor] (in liquidation) (the Transferor) acting by [any one of] its [joint] liquidator[s], [insert name of first liquidator] (Insolvency Practitioner) of [insert address][and [insert