Mega COVID-19 Law Adopted by Slovenian Parliament
On 2 April 2020 the Slovenian Parliament adopted the Act on Intervention Measures for Suppression of COVID-19 Epidemic and Mitigation of its Consequences for Citizens and the Economy .
COVID-19 Related Payment Moratoria on Bank Loans in Southeast Europe
Governments and central banks around the world are imposing various emergency measures and taking actions to support the economy, the business and households in this emergency situation.One of the measures some governments adopt is a payment moratorium on bank loans.
Maric & Co Provide an Overview of the Measures Adopted in Relation to COVID-19
Maric & Co’s team discuss how the existing measures adopted in the context of the current situation generated by the coronavirus reflect on the movement of people and vehicles, air and road traffic, healthcare, data protection, trade ad hospitality, price control, workplace, banking and tax, courts and state administration, and real estate.
Proposal for Act on intervention measures for suppresion of COVID-19 epidemic and mitigation of its consequences for citizens and the economy
On 28 March 2020 the Slovenian government adopted a proposal of the Act on Intervention Measures for Suppression of COVID-19 Epidemic and Mitigation of its Consequences for Citizens and the Economy. Among others, the Intervention Law foresees various measures for the economy.
Is COVID-19 a Force Majeure?
The COVID-19 pandemic has a number of negative economic consequences such as suspension or delay of production and supplies, quarantining of entire countries, closure of borders, cancellation of flights, etc.All these factors affect the performance of obligations under multiple commercial transactions and raise the question of whether a party to a contract can rely on force majeure in order to excuse its failure to perform a contractual obligation without liability.
Restrictions on Insurance Companies in Croatia due to COVID-19 and Recent Earthquakes
Croatian Financial Services Supervisory Agency (HANFA) has reached a decision under which insurance companies in the Republic of Croatia and one pension insurance fund are forbidden from making dividend payments from profit earned in 2019, as well as profit earned in previous years.
Croatian Banks Provide Relief for Repayment of Loans under Covid-19
Following a coordination meeting between the Government and the Croatian Central Bank last week, the representative body of the Croatian banks announced that the banks have unilaterally decided to introduce several measures with a view to providing relief to entrepreneurs/borrowers affected by Covid-19 situation.
Greece: Measures Implemented on National/EU Level in Regulated Markets due to the COVID-19 Pandemic
On national level:
On 17 March 2020, the Hellenic Capital Market Commission (“HCMC”) decided to prohibit short sales and transactions other than short sales which create or increase the net short positions in shares admitted to trading on the regulated market of the Athens Exchange, irrespective of the venue where the transaction is executed, subject to certain exceptions. The temporary prohibition includes sales of shares covered by subsequent intraday purchases. The measure is also applicable to all related instruments relevant for the calculation of the net short position determined in…
Slovenian Mandatory Moratorium on Bank Loans
On 20 March 2020 the Slovenian Parliament adopted an emergency law (Zakon o interventnem ukrepu odloga plačila obveznosti kreditojemalcev - ZIUOPOK) concerning mandatory moratoriums to be approved by Slovenian banks to Slovenian borrowers at their request, with a view of preventing substantial damage to the economy and maintaining financial stability.
