The outbreak of the coronavirus disease 2019 (COVID-19) represents one of the most significant global public health crises in the last 100 years and is causing major disruptions and unprecedented volatility in markets, economies and businesses.
Like many of our clients, we at DLA Piper operate around the world and appreciate the speed with which this situation is developing and the resulting complexity.
Businesses and investors in every region and across industries are facing a diverse set of challenges and planning for an uncertain future. Some of the more urgent considerations faced by many businesses include:
- Implementing travel restrictions, employee mobility, relocations, quarantines and other measures designed to protect the health and safety of the workforce;
- Complying with laws, rules and regulations designed to safeguard employees and mitigate the spread of the disease;
- Evaluating the impact of legal requirements and policies on the business’ tax residency and permanent establishment, and insurance/social security position;
- Adopting, revising and, if necessary, implementing business continuity, succession and other relevant policies and plans;
- Anticipating and managing production and delivery challenges caused by disruptions in supply chains, production capacity and distribution channels;
- Understanding and complying with performance obligations to concerned customers and other counterparties, and providing necessary warranties and other assurances;
- Evaluating the availability of business interruption, property and casualty, workers’ compensation and other forms of insurance;
- Implementing a consistent internal and external communication strategy with employees, regulatory agencies and the market and recognizing the potential legal consequences of such communications;
- Projecting the financial impact of COVID-19 on the business and adjusting operating budgets and capital expenditures to manage liquidity and capital resources;
- Forecasting compliance with credit facilities and other financial instruments and negotiating any necessary waivers or other changes;
- Proactively engaging with stockholders, lenders and others in the investment community in a manner consistent with applicable public disclosure and financial reporting obligations; and
- Managing litigation, arbitration and other dispute proceedings and taking steps to protect clients’ interests as needed.
DLA Piper practitioners are actively advising clients on these and other urgent legal and business-critical issues all over the world. We are deeply committed to the communities in which we live and work, and the safety and well-being of our clients and people is paramount.
As a global law firm, with experienced lawyers and advisors in every sector, in over 40 countries across the Americas, Europe, the Middle East, Africa and Asia Pacific, our professionals are on hand and particularly well-suited to help guide your business through this fluid and uncertain period.
This Coronavirus Resource Center contains our latest analysis and will continue to be updated as the situation develops. You are also encouraged to subscribe to our alerts to receive updates in your inbox.
Please contact your DLA Piper partner or any of the local contacts listed should you have any questions or require legal advice on any COVID-19 related issues.