Why are material adverse change (MAC) clauses in the spotlight? The coronavirus (COVID-19) outbreak has already caused some businesses to fail and financial distress to many others. Governments and regulators are urging lenders to be supportive of businesses, especially those that are, the outbreak aside, financially sound. However, lenders will still be looking to review their finance documentation and ascertain their rights at an early stage. Facility agreements typically include a list of events of default. Breach of any of these by the borrower will give the lender(s) the right to exercise certain rights under the facilities agreement, such as accelerating the loan (ie demanding early repayment) or enforcing security. An event of default can also have other consequences under the finance documentation, such as: • giving the lender the right not to lend any further amounts under the facility agreement (known as a drawstop), and • enabling the lender to transfer commitments without needing the consent of the borrower Most importantly, even where the

The HMRC Policy paper: Changes to the Coronavirus Job Retention Scheme from July 2021 to which you refer states that, from 1 July 2021, the level of the Coronavirus Job Retention Scheme (CJRS) grant will be reduced and employers will be asked to contribute towards the cost of their furloughed employees’ wages. To be eligible for the grant, the employer must continue to pay its furloughed employees 80% of their wages, up to a cap of £2,500 per month for the time they spend on furlough. As set out in the table in

ARCHIVED: This Practice Note was archived and is not maintained. Unlike conventional perils such as fire or flood, an outbreak of a virus cannot so easily be located at a particular place and time. The 2020 coronavirus (COVID-19) outbreak and consequent government action therefore presented insurers with a novel loss scenario, in relation to which the factual complexities arising were compounded by a lack of clear judicial authority on some of the key issues that the scenario posed in the context of business interruption claims, including: • the proper construction of composite insured perils in non-damage business interruption polices (ie, the so-called ‘disease’, ‘prevention of access’ and ‘hybrid’ clauses) • the correct approach to causation in the context of so-called ‘wide-area’ perils, which are apt to result in damage not only to the insured property but also to the surrounding area • identification of the proximate cause of a loss where there is a multitude of competing causes, some of which are insured and some of which are

On 17 March 2020, the government published guidance about the emergency coronavirus legislation to tackle the urgent issues that are arising as a result of coronavirus (COVID-19). One of the five key areas covered by the Coronavirus Bill is managing a death of a person with respect and dignity. The legislation will be limited in its application to a two year period and not all provisions will apply immediately. The legislation will include modifications to the current rules and regulations regarding the registration of a death and will take account of the fact that some families may be self-isolating or otherwise house-bound due to coronavirus, as well as the potential impact of the pandemic in terms of the capacity for registration and other arrangements to be made within the usual timeframe. The Coronavirus Bill 2019–21 was introduced in parliament on 19 March 2020 and the relevant provisions relating to registration of deaths and issues relating

What issues of compliance might arise? Permit holders are generally expected to comply in full with the terms and conditions of their permit. However, due to the disruption caused by the coronavirus (COVID-19), regulators acknowledge that such compliance may not be possible. There may be necessary changes in operation, such as changes to production of items necessary to deal with the COVID-19 crisis. Staff shortages may disrupt continued business operation, and may prevent compliance with the requirements of an environmental management system. Staff shortage may also affect key competencies. Waste management issues due to changes in collection and/or the generation of new types of waste, could also affect compliance. How are regulators responding? Regulators need to consider the welfare of their own staff, alongside the disruption to their own business processes as a result of COVID-19. Relevant regulators are now clarifying their position on compliance through letters, guidance and in the case of the Environment Agency (EA), the publication of COVID-19 regulatory position statements (RPSs). On

The practical implications of being house-bound for a personal representative (PR) will largely depend on the types of assets in the estate and what stage the administration has reached. Immediate steps following a death The immediate steps following a death are difficult in any circumstances but where the deceased’s family are house-bound due to coronavirus (COVID-19), there are additional complications, not least trying to obtain the medical certificate of death, registering the death with the registrar and arranging the funeral. Special measures to cover these scenarios, including expanding the list of people able to register a death, are contained in the Coronavirus Bill. See What the Coronavirus Bill will do and Coronavirus Bill — Managing the deceased, as well as LNB News 20/03/2020 58. See also Q&A: Coronavirus (COVID-19)—What happens when the family of a deceased person are unable to register the death and make funeral arrangements due to being house-bound? For a non-family member PR who is house-bound,

The term 'non dispensing pharmacy' is not defined in the Health Protection (Coronavirus, Restrictions) (All Tiers) (England) Regulations 2020, SI 2020/1374. The main statutory provisions relating to pharmacists, pharmacy technicians and pharmacies are contained in Part IV of the Medicines Act 1968 (MA 1968) and the Pharmacy Order 2010, SI 2010/231. 'Pharmacy' is a protected title in legislation. To protect public safety, it is an offence to use the term 'pharmacy' in respect of a retail business that is not a registered pharmacy (or the pharmacy department of a hospital or health centre). MA 1968, s 78 prohibits the use of the titles: • chemist • druggist • dispensing chemist • dispensing

ARCHIVED: This Practice Note has been archived and is not maintained. Last updated 30 June 2020. Scope of this tracker The table in this document looks at secondary issues by listed and AIM companies raising at least £10m between 25 March 2020 and 30 June 2020 and the effect of the coronavirus (COVID-19) crisis on equity fundraisings. In particular, it looks at the structure and size of the fundraising including whether companies have made use of the Pre-Emption Group’s (PEG) temporary relaxation of the recommended limit on the size of non-pre-emptive offers which has been increased to up to 20% of issued share capital from 1 April 2020. Announcements relating to secondary issues The following table tracks announcements relating to secondary issues by listed and AIM companies made between 25 March 2020 and 30 June 2020 where at least £10m was being raised in the fundraising. The tracker covers placings, offers for subscription, rights issues and open offers. Company Market Announcement date Structure and size of fundraising, % of issued share capital (ISC) and discount

ARCHIVED: This Practice Note has been archived and is not maintained. The Commercial Rent (Coronavirus) Act 2022 (CR(C)A 2022) continues and extends the protections given to commercial tenants during the coronavirus (COVID-19) pandemic. It does this by ringfencing rent and service charge debts accrued during the period when premises were required to close, and establishing a statutory arbitration process under which the debts may be reduced or payment deferred. It also imposes a moratorium on landlord remedies in order to protect tenants while the arbitration process takes place. The key provisions of CR(C)A 2022 and the government’s accompanying Commercial rent code of practice following the COVID-19 pandemic (the Code), are set out below. The government has also issued statutory guidance on the terms of the Act. The deadline for starting an arbitration has now ended, and with it the moratorium on landlord remedies in cases where no reference has been made. The moratorium remains in place for arrears that were referred to arbitration in time (see Moratorium

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note focuses on the implications for dispute resolution in the light of temporary rules introduced in the context of coronavirus (COVID-19). This Practice Note should be read in conjunction with Practice Note: Coronavirus (COVID-19) implications for dispute resolution [Archived]. This Practice Note aims to assist dispute resolution practitioners seeking to understand the fast-moving changes to civil court processes and procedures during this time and the implications those changes and this pandemic may have on their practice and individual matters. It contains civil court specific guidance that has been issued in response to the coronavirus pandemic, all of which can be easily accessed using the ‘jump-links’ in the expandable table of contents in the left-hand margin of this Practice Note. As most courts and tribunal buildings are now open in line with public health advice, practitioners are referred to the Gov.uk ‘Find a court or tribunal’ service for the current status and contact details of courts and tribunals.

This Q&A is limited to the law in England. Section 94 of the School Standards and Framework Act 1998 (SSFA 1998) confers a right of appeal against school admission decisions: a ‘local authority shall make arrangements for enabling [appeals] against…any decision made by or on behalf of the authority refusing a child admission to a school’. Further provision for appeals is made in the School Admissions (Appeal Arrangements) (England) Regulations 2012, SI 2012/9, but the substantial details governing the conduct of appeals are contained in the School Admissions Appeals Code 2012. This is mandatory statutory guidance which all appeal panels must follow. Parents who exercise

The issue Unfortunately, during a pandemic situation cybercriminals tend to increase their activity; the pandemic provides an issue to prey on individuals worldwide. While we work from home, we need to be aware of potential cyber-attacks against our personal and work environments. During the coronavirus pandemic, cybercriminals [are using OR used] the situation to impersonate local/national governments, regional/global health organizations and popular news sources. In addition to phishing emails, cybercriminals [are using OR used]: • text messages to mobile phones claiming to be from official entities, eg the UK government; • fake pandemic-related websites hosting malware and malicious apps; and • impersonation of VPN/portal representatives to capture employee credentials. What we need from you It is important that we continue to follow all standard processes and standard company-issued IT resources during a pandemic situation. Any changes to our processes should be fully documented, reviewed and approved by management, and communicated through normal internal communication