Governments and companies are entering uncharted waters with the raging spread of the COVID-19 virus. China shows that we can stop coronavirus through containment - but at a significant economic cost. Globally, the coronavirus shock is severe even compared to the Great Financial Crisis in 2007–08. Policymakers must support vulnerable households and smaller businesses to mitigate the impact of this severe shock.
In this extreme situation, this setback will definitely affect overall legal scenarios as well. The impact of the coronavirus is having a profound and serious impact on the global economy and has sent policymakers looking for ways to respond. China’s experience so far shows that the right policies make a difference in fighting the disease and mitigating its impact—but some of these policies come with difficult economic tradeoffs.
Sooner impact will be felt in commercial, corporate; employment and regulatory areas and our teams stand ready to work with you. It is a difficult time and we hope that you and your families stay well.
How can MEALC help you?
Our Commercial specialists give clients business-savvy advice on their international and domestic supply contracts. We are advising across multiple sectors on the interpretation of terms so that companies at each end of the supply chain fully understand their risk profile. But we are also enabling clients to future-proof their agreements by drafting updated terms and supporting on negotiating existing arrangements. Clients should be aware of the impact the virus may have on supply chains, as factory production slows in line with the reduction of workforces and the availability of shipping shrinks. This poses substantial challenges to clients, particularly in retail and distribution.
There are several considerations for employers and our Employment Team is taking a holistic approach to its advice. We have forgotten about expertise in isolation - we want to give you the full picture. We are providing employers with comprehensive support around managing the implications of the COVID-19 crisis for employees. Our team is searching for all type of help material and sending to all our regular clients as well as our potential clients. To get our advisory mails visit our website www.mealc.org or contact us at +97126399198. This Material includes assisting employers with the implications if employees cannot come into the office in a range of scenarios, including where employees are self-isolating or where offices are forced to close on a temporary basis, and advice on how to support employees who may have increased caring responsibilities (because a member of their household is unwell, or because schools and childcare facilities are closed). We can assist with operational contingency planning, crafting communications to employees and creating policy documents to guide managers and employees through the crisis. We are also assisting those employers who are having to consider more permanent restructures. We are also advising on any travel restrictions and visa implications for sponsored employees who are unable to travel or work.
Incorporate law, clients face the prospect of heavily disrupted transactions due to travel limitations, as well as commercial concerns. Our Corporate team has a proven track record of partnering with clients on a cross-border basis to achieve their goals and would be happy to assist with any concerns you may have.
Dispute Resolution group is also on hand to advise clients on any concerns, particularly concerning force majeure contractual disputes as a result of the outbreak but also strategic advice on the potential disruption of court proceedings.
We also have a pro-active Real Estate COVID-19 advisory team, who have been supporting clients with any queries they have concerning the virus. The current situation has understandably unsettled a large number of landlords and tenants, but our team is on hand to advise on a variety of legal implications such as rent and lease agreements.