COVID-19 Resource Center
April 13, 2021
As COVID-19 continues to impact businesses and communities around the world, Cleary Gottlieb lawyers are tracking key issues of concern and sharing their insights.
This page collects our latest thinking on coronavirus-related topics of particular importance to clients. Cleary’s COVID-19 client task force is at the ready to assist – click here to contact us.
Notable Experience
CARES Act
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June 1, 2020: Federal Reserve Releases Details of Main Street Lending Program
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May 1, 2020: Federal Reserve Announces Expansion and Clarifications of Main Street Lending Facilities
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April 29, 2020: Paycheck Protection Program: New Considerations for Public Companies and Private Equity Sponsors
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Updated April 24, 2020: Federal Financial Relief for Small Businesses Under the CARES Act (COVID-19) – Updated Chart
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April 13, 2020: The CARES Act and Mitigating False Claims Act Risk
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Updated April 10, 2020: Financial Assistance Programs and Facilities for Corporates Affected by COVID-19 - Chart
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April 9, 2020:New Main Street Lending Facilities Announced; Existing Federal Reserve Facilities to Finance Corporate Debt and ABS Expanded
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April 1, 2020: Accountability and Enforcement Under the CARES Act: What to Expect from the Act’s Oversight Provisions
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March 30, 2020: Highlights of the CARES Act Affecting the Real Estate Industry
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March 30, 2020: Healthcare Industry Stimulus: The Coronavirus Aid, Relief, and Economic Security Act
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March 29, 2020: President Signs CARES Act: Emergency Relief Provided to Businesses and Consumers
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Updated March 28, 2020: Tax Highlights of the CARES Act Stimulus
Antitrust and Competition
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(LATEST UPDATES): COVID-19 Antitrust Resource Center: Agency Status, Guidance From Enforcers, and Enforcement Actions
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May 18, 2020: European Merger Control in Times of Crisis
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(LATEST UPDATES): Status of Antitrust and Competition Agencies’ Operations – Chart
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May 4, 2020: Disclosure Considerations for UK and EU Public Companies in the Context of the COVID-19 Pandemic
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April 13, 2020: Competitor Collaboration in Times of Crisis
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April 2, 2020: UK Suspends Elements of its Antitrust Laws and Refocuses Enforcement in Response to COVID-19
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March 31, 2020: “Exploitative” Abuse of Dominance and “Price Gouging” in Times of Crisis
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March 31, 2020: COVID-19: Antitrust Guidance for Collaboration Between Financial Institutions
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March 27, 2020: COVID-19: The European Commission’s State Aid Toolbox
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March 20, 2020: Antitrust & COVID-19
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March 16, 2020: Europe’s Economic Response to the COVID-19 Crisis – the European Commission Steps In
Banking and Financial Institutions
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Updated November 20, 2020: COVID-19: UK Government’s Latest Measures to Support UK Businesses
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(LATEST UPDATES): COVID-19 Financial Institutions Resource Center: U.S. Financial Regulatory Actions and Guidance
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September 23, 2020: Business Interruption Claims After the UK’s COVID-19 Test Case: Implications for Policyholders in the UK and U.S.
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July 2, 2020: CRR Quick Fix to Facilitate Lending in Response to COVID-19 Adopted
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(LATEST UPDATES): Tracker of EU and UK Financial Sector Regulatory Initiatives in Response to COVID-19
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June 17, 2020: Summary of EU and UK Monetary Stimulus, Liquidity Support and Prudential Measures in Response to COVID-19
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May 26, 2020: SDNY Holds Syndicated Loans Are Not Securities, Rejecting Challenge That Threatened to Disrupt $2 Trillion Market During COVID-19 Crisis
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(LATEST UPDATES): Summary of U.S. Financial Sector Initiatives Responding to COVID-19
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Updated May 14, 2020: Belgium’s Response to Mitigate the Effects of COVID-19
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April 27, 2020: COVID-19: Coronavirus Large Business Interruption Loan Scheme
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April 16, 2020: Revised Rules on Disclosure of Significant Shareholdings in Italian Listed Companies after COVID-19 Outbreak
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April 14, 2020: Spain's Economic Measures to Mitigate the Effects of COVID-19
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April 9, 2020: New Main Street Lending Facilities Announced; Existing Federal Reserve Facilities to Finance Corporate Debt and ABS Expanded
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April 9, 2020: Italy’s New Measures to Mitigate the Economic Effects of COVID-19
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April 9, 2020: SEC Chief Accountant Weighs in on Accounting Issues During the COVID-19 Outbreak
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March 30, 2020: COVID-19: COVID UK Corporate Financing Facility Explained
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March 29, 2020: President Signs CARES Act: Emergency Relief Provided to Businesses and Consumers
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March 25, 2020: COVID-19 – Monetary Stimulus and Relief Measures Announced by the European Central Bank and Member States Banking Authorities
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March 25, 2020: DFS Regulation Clarifies Scope of Governor Cuomo’s Forbearance Order
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March 24, 2020: Key Consumer Finance Issues in the COVID-19 Crisis
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March 23, 2020: COVID-19: UK Regulators Adopt Regulatory and Operational Relief Measures to Support Financial Services Firms
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March 20, 2020: Bank Capital and Liquidity: COVID-19 Questions You May Be Considering
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March 20, 2020: COVID-19: A Brief Guide to Circuit Breakers and Powers to Close the Market
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March 19, 2020: COVID-19 - First Measures Announced by the French Government to Support the Banking Sector’s Effort to Finance Affected Businesses
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March 17, 2020: Response to COVID-19: Break Out the Financial Crisis Toolkit?
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March 17, 2020: COVID-19 – First Measures Adopted by EU Banking Authorities
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March 16, 2020: Europe’s Economic Response to the COVID-19 Crisis – the European Commission Steps In
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March 10, 2020: Coronavirus: Considerations and Impacts on Issuers’ Disclosure
Bankruptcy and Restructuring
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October 6, 2020: Consequences of the Disease – Start Worrying Again About German Insolvency Filing Requirements
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Updated June 5, 2020: COVID-19: Temporary French Bankruptcy Law Adjustments
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April 9, 2020: Italy’s New Measures to Mitigate the Economic Effects of COVID-19
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April 2, 2020: Russia - Amendments to the Bankruptcy Law Following the COVID-19 Outbreak
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April 1, 2020: Cure for the Disease – Stop Worrying About German Insolvency Filing Requirements and Continue Trading
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March 31, 2020: Suspension of Wrongful Trading Rules: What It Means for Businesses
Capital Markets
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Updated November 20, 2020: COVID-19: UK Government’s Latest Measures to Support UK Businesses
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July 28, 2020: Revised Rules on Italian Listed Company Capital Increases After the COVID-19 Outbreak
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July 2, 2020: CRR Quick Fix to Facilitate Lending in Response to COVID-19 Adopted
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July 1, 2020: Q2 Reporting: How Should a U.S. Public Company Quantify the Impact of COVID-19?
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July 1, 2020: COVID-19 in Q2 Reporting – What the SEC is Looking For
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June 23, 2020: Trends and Considerations for Secured Notes Offerings During COVID-19
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April 27, 2020: COVID-19: Coronavirus Large Business Interruption Loan Scheme
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April 14, 2020: Social Bonds in Response to the COVID-19 Crisis: a Guide for Issuers
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April 10, 2020: First Quarter Earnings and COVID-19: SEC Officials Ask for More
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April 8, 2020: Emergency Equity Raises – Practical Guide for Belgian Companies
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March 30, 2020: New SEC Coronavirus Actions: Extended Conditional Relief for Filing Deadlines, New Disclosure Guidance, Temporary Relief for EDGAR Form ID Applications
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March 20, 2020: Temporary Reduction of Reporting Thresholds of Significant Shareholdings in Italian Listed Companies
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March 19, 2020: COVID-19 - First Measures Announced by the French Government to Support the Banking Sector’s Effort to Finance Affected Businesses
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March 10, 2020: Coronavirus: Considerations and Impacts on Issuers’ Disclosure
Contract Issues
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Updated May 15, 2020: COVID-19: The French Government Issues Orders Extending Procedural Deadlines and Limitation Periods and Adapting Proceedings Before Civil and Commercial Courts
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March 27, 2020: No Printer, No Scanner, No Problem: Electronic Execution of Agreements in the Remote Working Environment
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March 25, 2020: COVID-19 and the Tolling of Statutes of Limitations: Impact on Arbitrations Seated in New York
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March 12, 2020: Italy and COVID-19 – Practical and Legal Guidance on Key Business Issues
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March 10, 2020: New Coronavirus – Selected Legal Issues Under German Law
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March 5, 2020: 3 NY Contract Law Concepts in the Context of Coronavirus
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February 20, 2020: Coronavirus – Force Majeure or Frustration?
Corporate Governance
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(January 12, 2021): COVID-19: State Reopening Status and Requirements
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Updated August 11, 2020: Response to COVID-19: State Reopening Plans
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July 15, 2020: Navigating COVID-19: Supply Chain Considerations
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Updated June 30, 2020: Response to COVID-19: State Executive Orders
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June 1, 2020: UK Corporate Insolvency and Governance Bill A Game-Changer
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June 1, 2020: The Gig is Up? COVID-19 & Remote Work Trend Toward Growth in Gig Labor
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May 28, 2020: Risky Business: Waivers & Assumption of the Risk of COVID-19 Exposure
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May 4, 2020: Incentives in the Pandemic
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Updated April 30, 2020: AGMs and General Meetings: Current Options for UK Companies
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April 29, 2020: Adjustments to Emergency Measures to Tackle the COVID-19 Outbreak and First Recommended Steps to Prepare the Restart of French Businesses
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Updated April 20, 2020: Cuomo Executive Order Gives New York Corporations Relief on Physical Annual Meetings
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April 15, 2020: ISS Issues Additional Voting Policy Guidance in Response to COVID-19 Pandemic
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April 14, 2020: Spain’s Economic Measures to Mitigate the Effects of COVID-19
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April 14, 2020: The Executive Pay Dilemma
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April 9, 2020: The Keys to Emergency Succession: Planning for Boards and Senior Management During a Health Pandemic
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April 2, 2020: The Impact of COVID-19 on Activism and Hostile Attacks: Key Takeaways
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March 27, 2020: Insider Trading Risk During the COVID-19 Outbreak
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Updated March 26, 2020: Coronavirus & Virtual Annual Meetings
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March 26, 2020: Glass Lewis Revised Guideline Regarding Virtual Meetings for 2020 Proxy Season
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March 24, 2020: Leading Disclosure Issues for U.S. Public Companies in the COVID-19 Era
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March 20, 2020: Rewriting the Poison Pill Prescription: Consider Active Defenses During COVID-19
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March 18, 2020: Coronavirus & Postponing/Adjourning Annual Meetings
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March 18, 2020: Coronavirus: New Rules to Hold the Annual Shareholders’ Meetings
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March 18, 2020: Italy’s Economic Measures to Mitigate the Effects of COVID-19
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March 12, 2020: Italy and COVID-19 – Practical and Legal Guidance on Key Business Issues
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March 5, 2020: 3 NY Contract Law Concepts in the Context of Coronavirus
Cybersecurity and Privacy
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April 30, 2020: COVID-19 Remote Working – GDPR Data Security Checklist
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March 27, 2020: FINRA Releases Notice On Cybersecurity Measures in light of COVID-19 Pandemic
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March 16, 2020: Managing Cyber Risk During COVID-19 Response
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March 12, 2020: Italy and COVID-19 – Practical and Legal Guidance on Key Business Issues
Employment and Executive Compensation
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Updated April 13, 2020: Latest Practical Guidance for Belgian Employers in Respect of COVID-19
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Updated November 20, 2020: COVID-19: UK Government’s Latest Measures to Support UK Businesses
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Updated May 8, 2020: What Employers in Germany Should Know in Times of COVID-19
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Updated April 24, 2020: Department of Labor Issues Additional Guidance on Families First Coronavirus Response Act
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April 7, 2020: COVID-19: French Measures to Facilitate the Continuation of the Dealings with the Employees Representatives
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April 6, 2020: COVID-19: Moratorium to Suspend Certain Deadlines Relating to Investigations, Statutes of Limitation and Audits in Relation to Social Matters
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March 30, 2020: COVID-19: Latest Social Measures to Support French Businesses
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March 29, 2020: President Signs CARES Act: Emergency Relief Provided to Businesses and Consumers
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March 27, 2020: Department of Labor Issues Guidance on Families First Coronavirus Response Act
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March 24, 2020: Top Considerations for the Retail Industry – What Mall Owners Should Be Thinking About
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March 23, 2020: Latest Measures to Tackle the Outbreak of COVID-19 and Limit Impacts for French Employers
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March 19, 2020: New York Mandates COVID-19 Related Emergency Paid Sick Leave and Job Protection
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March 19, 2020: Families First Coronavirus Response Act: Paid Sick Day Mandate and Expanded FMLA Protections for Employees of Small Employers
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March 18, 2020: Italy’s Economic Measures to Mitigate the Effects of COVID-19
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March 18, 2020: Fiscal Measures of the German Government in Light of the COVID-19 Pandemic
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March 17, 2020: Latest Practical Guidance for UK Employers Amidst the COVID-19 Outbreak
Enforcement and Compliance
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April 27, 2020: OFAC Issues Guidance on COVID’s Impact on Compliance and Enforcement
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April 1, 2020: Accountability and Enforcement Under the CARES Act: What to Expect from the Act’s Oversight Provisions
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March 30, 2020: Law Enforcement Priorities and Practicalities During the COVID-19 Pandemic
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March 27, 2020: Insider Trading Risk During the COVID-19 Outbreak
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March 26, 2020: Navigating COVID-19: Best Practices for Managing Compliance Risk
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March 17, 2020: COVID-19 and the Compliance Risks Related to Sales and Marketing Practices
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March 16, 2020: SEC Provides Relief to Investment Advisers From Form ADV and Form PF Obligations due to Coronavirus
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February 20, 2020: Coronavirus – Force Majeure or Frustration?
Foreign Investment Review
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April 17, 2020: While Others Increase Scrutiny of FDI, the UAE Takes Another Step Towards Relaxation of Foreign Ownership Restrictions
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April 2, 2020: Evolving European Foreign Direct Investment Review During the COVID-19 Pandemic
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April 2, 2020: European Commission Urges Member States to Protect Suppliers of Essential Products From Foreign Takeovers
Latin America
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Updated April 9, 2020: Survey of Responses to COVID-19 in Latin America
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March 31, 2020: LATAM Market Development: COVID-19 and Its Implications on Private Sector Credits
Leveraged and Acquisition Finance
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March 18, 2020: COVID-19 – Liquidity and Other Considerations for Borrowers
Litigation and Arbitration
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July 30, 2020: The Milan Chamber of Arbitration Adopts New Measures In The Wake Of COVID-19 Pandemic
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July 10, 2020: International Arbitration in the Time of COVID-19: Navigating the Evolving Procedural Features and Practices of Leading Arbitral Institutions
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May 29, 2020: Recent New York Decision Highlights Challenges Plaintiffs Will Face in Proving Loss Causation for Securities Fraud Cases Brought Following a Crisis
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May 26, 2020: SDNY Holds Syndicated Loans Are Not Securities, Rejecting Challenge That Threatened to Disrupt $2 Trillion Market During COVID-19 Crisis
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Updated May 15, 2020: COVID-19: The French Government Issues Orders Extending Procedural Deadlines and Limitation Periods and Adapting Proceedings Before Civil and Commercial Courts
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May 5, 2020: The Italian Parliament Extends Emergency Measures to Arbitration
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April 28, 2020: COVID-19: Public Health Emergency Measures and State Defenses in International Investment Law
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March 31, 2020: AG MIT CMO, LLC v. RBC (Barbados) Trading Corp.: Initial Post-COVID-19 Litigation Challenges to Closeouts of Repurchase Agreements
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March 25, 2020: COVID-19 and the Tolling of Statutes of Limitations: Impact on Arbitrations Seated in New York
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March 18, 2020: Italy’s Economic Measures to Mitigate the Effects of COVID-19
M&A/Shareholder Activism
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June 26, 2020: UK Government Introduces New Powers to Intervene in Mergers on Public Interest Grounds
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May 18, 2020: European Merger Control in Times of Crisis
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COVID-19: CFIUS Considerations for Distressed M&A and Lending Transactions
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April 17, 2020: Is Now a Good Time to Adopt an NOL Rights Plan?
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April 13, 2020: ISS and Glass Lewis Issue Guidance for Poison Pills in COVID-19 Pandemic
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April 2, 2020: The Impact of COVID-19 on Activism and Hostile Attacks: Key Takeaways
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March 30, 2020: Return of the MAC? – Protecting Buyers During a Pandemic
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March 20, 2020: Rewriting the Poison Pill Prescription: Consider Active Defenses During COVID-19
Manufacturing and Industrial Services
Private Equity
Pro Bono
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April 30, 2020: The CARES Act and More: Relief for Nonprofits
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April 23, 2020: WE Connect Event: Financial Relief for Small Businesses Affected by COVID-19
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Updated April 17, 2020: COVID-19: The Effect on Refugees
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April 14, 2020: Cleary Gottlieb Partners with Start Small Think Big to Provide Financial Relief Legal Counseling to Small Businesses Impacted by COVID-19
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April 3, 2020: Cleary Gottlieb and City Bar Justice Center Provide Training for Attorneys Advising Small Businesses on COVID-19-Related Matters
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March 30, 2020: Cleary Gottlieb Partners With Start Small Think Big to Help Small Businesses Affected by COVID-19
Real Estate
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April 17, 2020: Federal Banking Agencies Issue COVID-19 Relief Allowing Deferral of Real Estate Appraisals
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April 16, 2020: Preparing for a Foreclosure: A Checklist for Commercial Real Estate Lenders
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April 10, 2020: Impact of COVID-19 on U.S. REITs
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April 10, 2020: COVID-19 Real Estate Relief Efforts for Retailers
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April 9, 2020: Russian Government Adopts Regulations on Rent Deferrals for Tenants in Light of Coronavirus Pandemic
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April 8, 2020: Retail Co-Tenancy and COVID-19
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April 6, 2020: Impact of “Shelter-In-Place” Orders on Construction Loans
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April 1, 2020: Russian Federal Assembly Passes Legislation to Provide Relief to Russian Tenants Under Their Leases in Light of COVID-19 Emergency
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March 30, 2020: Highlights of the CARES Act Affecting the Real Estate Industry
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March 25, 2020: DFS Regulation Clarifies Scope of Governor Cuomo’s Forbearance Order
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March 24, 2020: Top Considerations for the Retail Industry – What Mall Owners Should Be Thinking About
Sovereign Governments and International Institutions
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Updated November 20, 2020: COVID-19: UK Government’s Latest Measures to Support UK Businesses
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Updated May 19, 2020: COVID-19 Toolkit for Sovereigns: Support, Stimulus and Debt Management Measures
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Updated May 15, 2020: COVID-19: The French Government Issues Orders Extending Procedural Deadlines and Limitation Periods and Adapting Proceedings Before Civil and Commercial Courts
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April 28, 2020: COVID-19: Public Health Emergency Measures and State Defenses in International Investment Law
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Updated April 9, 2020: Survey of Responses to COVID-19 in Latin America
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March 19, 2020: COVID-19 - First Measures Announced by the French Government to Support the Banking Sector’s Effort to Finance Affected Businesses
State Aid
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February 4, 2021: Fifth Amendment to the State Aid Temporary Framework to Support the Economy in the Context of the COVID-19 Outbreak
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October 16, 2020: State Aid Temporary Framework Extended and Expanded
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Updated May 14, 2020: Belgium’s Response to Mitigate the Effects of COVID-19
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May 11, 2020: The European Commission Relaxes State Aid Rules for COVID-19-related Recapitalizations
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April 9, 2020: Italy’s New Measures to Mitigate the Economic Effects of COVID-19
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April 6, 2020: Amendment to the State Aid Temporary Framework to Support the Economy in the Context of the COVID-19 Outbreak
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March 27, 2020: COVID-19: The European Commission’s State Aid Toolbox
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March 20, 2020: State Aid Temporary Framework to Support the Economy in the Context of the COVID-19 Outbreak
Tax
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August 19, 2020: Italy’s Further Tax Measures to Mitigate the Economic Effects of COVID-19
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April 17, 2020: Is Now a Good Time to Adopt an NOL Rights Plan?
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April 14, 2020: Corporate Tax Residence in the UK and COVID-19
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April 10, 2020: Impact of COVID-19 on US REITs
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Updated March 28, 2020: Tax Highlights of the CARES Act Stimulus
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March 26, 2020: COVID-19: Moratorium to Suspend Certain Tax Deadlines Relating to Statutes of Limitation, Tax Audits, and Recovery of Tax Receivables
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March 18, 2020: Fiscal Measures of the German Government in Light of the COVID-19 Pandemic
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March 18, 2020: Italy’s Economic Measures to Mitigate the Effects of COVID-19