Publications - Banking and Finance
NPLs: Portfolio deals will increase due to COVID-19
In the wave of the COVID-19 pandemic, there has been a significant increase in debt held by both consumers and companies. Over the coming years, we expect to see a large number of debt and distressed asset deals. In this viewpoint, Garrigues…
Financing of startups in times of COVID-19: what public aid are they eligible for in Portugal?
In the current situation, obtaining finance can be key for many startups, both to cover cash needs and to be able to implement new growth projects. Therefore, it is essential to identify the public or private aid which is available to entrepreneurs…
Startups and debt (I): Overdependence on equity rounds. Reasons and setbacks
Searching for additional financing routes, in the form of debt rather than equity, could benefit startup founders by curtailing their dilution in equity rounds and also have other advantages for the companies themselves. This would contribute to…
Shield 4.0 as the last part of the economic protection system during a pandemic
On May 20, 2020, the Polish government adopted the fourth and final package of anti-crisis solutions known as "Shield 4.0".
COVID-19 Special Newsletter - Spain | Week between May 11 and May 17
Phase 1 of the ‘scaling-down’ process, third tranche of guarantees, extension of ERTE temporary layoffs, potential delay in the application of VAT directives and of DAC6, and measures to support the cultural sector
The Financial Shield of the Polish Development Fund
The Financial Shield of the Polish Development Fund is a solution aimed at supporting enterprises which have suffered losses as a result of the coronavirus epidemic.
The Polish Act on counteracting COVID-19 entered into force
On 31 March, 2020 an amendment to the Act on specific solutions related to the preventing, counteracting and combating COVID-19, other infectious diseases and crisis situations caused by them, together with other acts (the “Act”) entered…
COVID-19: Companies should be aware of new deadlines and deferrals, as well as to covenant review, analyzing carefully their financial situation
A constant stream of new legislation is being approved that affects businesses. Every week Garrigues provides a summary of the main issues that companies need to take a look at over the coming days. This week we feature the new legislation approved…
COVID-19: Key new legislation introduced in Royal Decree-Law 11/2020
We analyze the measures introduced by Royal Decree-Law 11/2020, from every angle of business law: corporate/commercial contracts, tax, labor and employment, restructuring and insolvency, procedures and administrative law.
Preserving and increasing liquidity in the time of COVID-19
Over the past weeks, Spanish companies and credit applicants from all industries, both essential and non-essential, have been implementing strategies in order to try, as far as they can in the circumstances, to ensure liquidity and minimize the…
COVID-19: Companies face new employee-related measures, the first tranche of guarantees and the beginning of the personal income tax season, among other news
The toughening of lockdown measures in Spain and resulting closure of all business activities not classed as essential makes it absolutely necessary to keep very much in sight this week the measures approved in the labor and employment field. In the…
COVID-19: Implemented regulatory solutions for the protection of the Portuguese economy
On March 26, 2020, the Portuguese Government approved Decree-Law nº 10-J/2020 (“Moratorium Regime”), putting into practice exceptional measures for protecting families, companies and welfare institutions, in relation to…