April 22, 2020
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Gibson Dunn’s lawyers regularly counsel clients on issues raised by the COVID-19 pandemic, and we are working with many of our clients on their response to COVID-19. The following is a round-up of today’s client alerts on this topic prepared by the Gibson Dunn team. Our lawyers are available to assist with any questions you may have regarding developments related to the outbreak. As always, for additional information, please feel free to contact the Gibson Dunn lawyer with whom you usually work, or any member of the firm’s Coronavirus (COVID-19) Response Team.
GLOBAL OVERVIEW
On April 20, 2020 the governors of Colorado and Georgia announced plans to begin easing the restrictions the states imposed in response to the outbreak of COVID-19. Certain businesses will be permitted to reopen so long as they follow state social distancing laws and guidelines designed to limit the spread of the virus. These precautions are intended to keep any increase in COVID-19 cases to a level that can be managed by the states’ hospital systems. The plans of each state, as set out in a slide presentation by the governor of Colorado and an executive order issued by the governor of Georgia, are discussed below. Colorado urges its citizens to remain at home when they can, and Georgia’s plan includes a detailed list of mandatory precautions. In Colorado, there will be a process for local governments to issue stricter local rules based on local conditions; in Georgia such local control is expressly forbidden by the governor’s executive order. Colorado and Georgia provide different approaches to emerging from the COVID-19 restrictions and may serve as competing models as other states consider how and when to begin lifting their own COVID-19 restrictions.
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This weekly bulletin provides a summary and compendium of English law legal developments during the current COVID-19 pandemic in a variety of key areas.
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In our client alert of 27 March 2020, we provided an overview of the financial support made available by the UK Government to: (i) investment grade businesses through the Covid Corporate Finance Facility (the “CCFF”); and (ii) small and medium sized enterprises (“SMEs”) through the Coronavirus Business Interruption Loan Scheme (the “CBILS”). In our client alert of 6 April 2020, we gave a brief overview of the measures that have been taken in the UK to support businesses and highlighted in that alert that the CBILS was being extended to larger business with an annual revenue of between £45 million and £500 million.
In this client alert we summarise: (i) the announcement of details on the Coronavirus Large Business Interruption Loan Scheme (the “CLBILS”); and (ii) the announcement of a new funding scheme for innovative companies that are facing financing difficulties due to the COVID-19 pandemic (the “Innovation and Development Scheme”).
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As we head into another week of the COVID-19 pandemic, we are all struggling to cope with the rapidly changing landscape. Some of us have loved ones who have gotten sick or even passed away, others have loved ones living far away, and still others have loved ones fighting on the front lines of this pandemic as healthcare workers or first responders. And yet, amidst this uncertain and unprecedented time, we have been struck by how much this community has come together; how we have found new ways to be supportive of one another, to communicate with one another, and to form much deeper bonds than once existed. Part of this coming together has been forged through a common goal and purpose: to help those in our communities – near and far – who need our services the most.
Delivering this help has required digging deep, working through challenging conditions, and often coming up with creative and innovative means to provide results. Together we have accomplished so much already, finding ways to help the small business and immigrant communities and the healthcare workers fighting every day for all of us, just to name a few.
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