Joey Shabot Interviews for May 2020 Issue of IsraelDesks magazine

Posted in COVID-19, Israel

Read Joey Shabot’s interview with the May 2020 edition of IsraelDesks magazine. In a chapter devoted to discussing how the legal industry adjusts to the new world, Joey offers his input on how different industries have been affected and what potential business opportunities are brought forth.

Read the full chapter “As the World Tilts the Legal World Adjusts“.

 

לורנס שטרנטל מייצג את כלל ביטוח בעסקת נדל”ן של 1.2 מיליארד דולר

Posted in Global, Israel, Real Estate

,לורנס שטרנטל, שותף במחלקת הנדל”ן הבינלאומי במשרדנו בתל אביב

.מייצג את כלל ביטוח במסגרת עסקת נדל”ן גדולה בארה”ב

 כפי שדווח ביום א’, 24 במאי, בכלכליסט, כלל ביטוח וענקית הביטוח האמריקאית מטלייף

.הקימו שותפות שתתמקד בהקמת נדל”ן בארה”ב

 ,כבר כעת, יצאו לדרך שלושה פרויקטים במסגרת השותפות

.בהם נבנים שטחי מסחר, יחידות דיור ואף מרכז הפצה גדול

הצטרפו לוובינר בנושאי שוק המשפט הבינלאומי, הכלכלה העולמית והקשר לעו”ד ישראלים בצל התקופה

Posted in Corporate, COVID-19, Real Estate, Tel Aviv

הצטרפו לג’ואי שבות, השותף המנהל של משרד גרינברג טראוריג בתל אביב

ולעמיתים נוספים במסגרת וובינר שמתייחס להשלכות המגיפה על מדינות שונות

 .ולתחומי עיסוק ספציפיים לרבות דיני תאגידים ונדל”ן מסחרי

.הוובינר יהיה זמין לצפייה בעמוד הפייסבוק של לשכת עורכי הדין – מחוז תל אביב היום (יום ד’), בשעה 17:00

SBA Releases PPP Loan Forgiveness Application

Posted in Corporate, COVID-19, Israel

Late on May 15, the SBA released its PPP Loan Forgiveness Application. View the application form and instructions here.

The U.S. Treasury also published some initial, limited commentary. Find the commentary here.

These documents provide certain guidance on options for calculation of payroll costs, instructions on performing required calculations under the CARES Act, among other information. The application form also provides a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined.

Please join us Monday, May 18, at 4:00 p.m. EDT for a complimentary webinar on the PPP forgiveness process, associated tax benefits, risk assessment, and civil and criminal enforcement. View the webinar invitation here.

,לפרטים נוספים ושאלות בנושא

.אנא פנו לאפרים שמיידלר ואהרון כץ, עורכי דין במחלקת התאגידים במשרדנו בתל אביב

Tel Aviv Client Nuvo Group Partners With Leading Israeli Medical Center

Posted in Israel, Posts in Hebrew, Startups, Technology, Tel Aviv

Represented by GT Tel Aviv Shareholder Adam Snukal, Nuvo Group, an Israeli company developing remote pregnancy monitoring platform, recently announced a new partnership with a major Jerusalem based medical center.

Thie collaboration will enable the creation of “first-in-kind data-driven solutions to assist providers delivering personalized pregnancy care, drawing from a large pool of decisions and outcomes to create individualized recommendations” as recently reported in the media. To enable setting up this ambitious tool, Nuvo has been granted access to the medical center’s medical records database of over 50,000 subjects.

To read the full article, please click here.

אדם סנוקל, שותף במחלקת הטכנולוגיה במשרדנו בתל אביב מייצג מגוון רחב של חברות ישראליות

,בתחומי הטכנולוגיה ומדעי החיים הפועלות בארץ ומחוצה לה

.ומעניק להן תמיכה משפטית בתחומים רבים לרבות דיני חוזים, פרטיות, קניין רוחני ועוד

PPP Loan Will Cause Related Company to Be Ineligible for CARES Act Employee Retention Tax Credit

Posted in Corporate, Corporate & Securities, COVID-19, Israel

.כידוע, הממשל הפדרלי אימץ והוציא אל הפועל מספר מסלולי הטבה לעסקים שנפגעו בעקבות משבר הקורונה

-המאמר המצורף מתאר את יחסי הגומלין בין ההטבות השונות ובפרט כיצד הטבת ה

Paycheck Protection Program

  .משפיעה על הטבה אחרת- זיכוי המס בגין משכורות ששולמו

.ליצירת קשר בנושא, אנא פנו לאפרים שמיידלר ואהרון כץ, עורכי דין במחלקת התאגידים במשרדנו בתל אביב

The IRS has released a set of Frequently Asked Questions (FAQ) regarding the employee retention tax credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). One of the surprises contained in the FAQ is that if a company receives a Paycheck Protection Program (PPP) loan, then all companies that share common ownership will not be eligible for the employee retention credit.

The employee retention credit allows a 50% tax credit to a company for wages paid to employees during the period its operations have been fully or partially suspended due to a COVID-19 governmental order, or during a calendar quarter there has been a significant decrease in gross receipts (a 50% decrease in gross receipts from the same 2019 calendar quarter until gross receipts recover to more than 80% from the prior year calendar quarter). If the company has more than 100 employees, the credit is only allowed for wages paid for the time an employee is not performing services. The maximum credit is capped at $5,000 per employee.

This credit is available to any company paying wages to employees in the U.S. (and U.S. territories), regardless of size, except for a company that has received a loan under the PPP. Because there is no limit on the size of a company eligible for this credit, the employee retention credit is the primary COVID-19 tax incentive for a company with more than 500 employees to continue paying its workers while business operations are suspended due to a governmental order, or a company that has suffered a significant decline in gross receipts (because a company with more than 500 employees is not eligible for a PPP loan).

For more information and updates on the developing situation, visit GT’s Health Emergency Preparedness Task Force: Coronavirus Disease 2019 or Health Emergency Preparedness Task Force:GT’s COVID-19 Economic Stimulus Team.

Read the full GT Alert “PPP Loan Will Cause Related Company to Be Ineligible for CARES Act Employee Retention Tax Credit” 

As Hotels Gradually Re-Open in Israel, the Global Hospitality Industry Continues to Struggle due to COVID-19 Crisis

Posted in COVID-19, Global, Hospitality, Israel

While the Coronavirus Disease 2019 (COVID-19) pandemic continues to impact all areas of the world economy, the global hospitality industry is being impacted particularly hard. The suspension of international travel with the closure of multiple borders has caused an unprecedented collapse of demand. Over the past two months hotels have scaled down operations where possible, with some terminating staff or putting them on furlough and looking for other ways to reduce costs. Given the fixed expenses for a hotel to remain open, many have closed down completely until circumstances improve.

The various third-party stakeholders – brands, operators, landlords, and lenders – often involved in hotel properties, may complicate matters further. Internationally branded “flag hotels,” whether brand-managed, or franchised and operated independently, are subject to agreements that mandate various operating standards be maintained, and may require continuing operation and/or capitalization of the hotel by the owner. Leases for hotels subject to a ground or operating lease may contain analogous provisions, as may loan documents – along with strict financial covenants. While many agreements may contain force majeure or similar clauses, it is not yet clear whether those will be held to be applicable to the havoc being wrought by COVID-19 or whether such an event was contemplated. That may depend, at least in part on the contract language. There is also already debate on that as a general matter, and litigation on that question is already under way and likely to increase. Hotel owners should carefully review the language on that subject in their contracts, and in general for whether breaches of financial covenants, significant construction delays, reduction in operations or full closure of a property may constitute a default.

While reaching out and coming to a mutual understanding with the brand, landlord, and/or lender may be beneficial, this may not always be practical or fruitful. These third parties may have different interests and incentives than owners and some may only be willing to entertain contract modifications by demanding prohibitively onerous extractions from an owner in return.  Others who are inundated with accommodation requests may therefore be unwilling, or unable, to affirmatively provide hotel owners with the immediate flexibility needed.

For many hotel owners, continuing to spend money in the absence of clear guidance is not a viable option. Instead, some hotel owners may simply feel the need to act as they deem most reasonable and proper under the circumstances, relying on the possibility that given the completely unapparelled present situation they are facing, sufficient legal justification for their unilateral actions may be found even after the fact.

For instance, an excuse for complete closure mat exist where governmental orders have limited guest stays to “essential lodgers” or the like, and hote l owners have decided that for insurance and liability reasons it is more prudent to shut down the hotel than expose the hotel to COVID-19 contamination for the low rate/low occupancy business such guest stays represent. Likewise, even where restrictions have not been imposed directly on hotels, some sources of hotel data attribute much of the decline in hotel demand to governmentally mandated ‘social distancing’. Some jurisdictions have placed restrictions on lenders’ and/or landlords’ rights to enforce their contracts during this time.

That being said, all legal theories and justifications still remain untested. Owners who do choose to act independently should consider keeping detailed track of all government orders impacting their operations and carefully record all correspondence related to their decisions.

לקבלת מידע נוסף בנושא ובנושאים נוספים הקשורים בתעשיית ההארחה, אנא פנו ללורנס שטרנטל,
שותף במחלקת הנדל”ן הבינלאומית במשרדנו בתל אביב, או לסער וורנר-ליפטון, עורך דין באותה המחלקה

 

האזינו לג’ואי שבות מנתח את סצנת ההשקעות, המיזוגים והרכישות בצל הקורונה במסגרת פודקאסט לעיתון כלכליסט

Posted in Corporate, Corporate & Securities, COVID-19, Investments, Israel, Japan, Media Coverage, Mergers & Acquisitions, Posts in Hebrew, Tel Aviv

מה יתרונם של סטארטאפים מקומיים מול מקביליהם הזרים? אילו תעשיות צומחות בלב התקופה הנוכחית ואילו הזדמנויות חבויות בסקטורים החווים את הקשיים הרבים מכל?

מדוע יתכן וחברות הזנק ישראליות שנחשבות תמיד לאנדרדוג בקונטקסט העולמי, תהיינה אטרקטיביות יותר להשקעות בתקופה הקרובה? אילו מדינות מתחילות להראות סימנים של חזרה לשגרה בבחינת השקעות ולאילו נראה שייקח זמן ממושך יותר?

 בסוגיות אלה ועוד רבות אחרות דן גו’אי שבות, במסגרת פודקאסט שהוקלט עבור עיתון כלכליסט ובו מוצע ניתוח של תמונות המיזוגים, הרכישות, וההשקעות בארץ ובעולם בצלו של משבר הקורונה.
ג’ואי הוא השותף המנהל של משרד גרינברג טראוריג בתל-אביב וחבר במחלקת התאגידים של הפירמה. לג’ואי ניסיון רב בליווי חברות ישראליות ובינלאומיות בכל הפעילות הקשורה בהשקעות, מיזוגים ורכישות. גרינברג טראוריג היא הפירמה הבינלאומית הגדולה היחידה לה משרד פיזי בישראל. צוות המשרד מלווה את לקוחותיו במגוון רב של תחומי התמחות בדין הזר ,לדוגמת דיני תאגידים, דיני עבודה, קניין רוחני, פרטיות, רגולציה וציות והשקעות נדל”ן בינלאומיות.

Israeli Business Immigration to the United States in the Time of COVID-19

Posted in COVID-19, Global, Immigration, Labor & Employment

There are unique business relationships between the State of Israel and the United States. It follows that there are some unique issues when it comes to business immigration during the COVID-19 Pandemic.

We have reported on immigration issues generally following the pandemic-related shut-downs.  These include:

In terms of Israeli immigration to the U.S. during the time of the Coronavirus Disease 2019 (COVID-19) pandemic, the United States and Israel have signed a treaty permitting investors from each country to enter the other country for purposes of overseeing investments.

Additionally, Israeli investors may obtain E-2 visas for qualified treaty investors and employees, as well as their dependent family members. Extensions may be granted in increments of up to two years, with no maximum limit.

Given the flexibility of the E-2 visa and Israel’s strong position in the hi-tech sector, this visa may potentially be used to advance Israeli business interests and streamline entrepreneurial ventures in the United States.

While the U.S. consulates that issue visas are temporarily closed and travel is generally restricted from many parts of the world, it is still possible to travel from Israel to the United States.

Individuals from Israel who want to explore business options in the United States are still permitted to enter the United States to do so. Once the Consular services at the U.S. Embassies and consulates re-open, application for the E-2 investor visas will once again be accepted.  Should an Israeli investor wish to begin the process of obtaining an E-2 visa, the petition and supporting documentation may still be prepared at this time.

The recent proclamation by the Trump Administration suspending certain immigration into the United States released on April 22, 2020, has little impact on Israeli investors. The proclamation was aimed at immigration that would impact U.S. job recovery. E-2 investors by the very nature of the visa create jobs for U.S. workers.

For more information and updates on the developing COVID-19 situation, visit GT’s Health Emergency Preparedness Task Force: Coronavirus Disease 2019.

View and download the full GT Alert “Israeli Business Immigration to the United States in the Time of COVID-19

ליצירת קשר, אנא פנו למאירה פרזיגר, שותפה במחלקת דיני עבודה במשרדנו בתל-אביב, אשר עובדת יד ביד עם מחלקת ההגירה של הפירמה בארה”ב

הקלות בתחום הנדל”ן המסחרי לאור וירוס הקורונה: לורנס שטרנטל בריאיון לכלכליסט

Posted in COVID-19, Israel, Real Estate, Tel Aviv

.לאחרונה, התראיין לורנס שטרנטל לעיתון כלכליסט

לורנס, שותף במחלקת הנדל”ן הבינלאומי במשרדנו בתל-אביב, מתמחה בנדל”ן מסחרי ומייצג ערב רב

.של לקוחות במסגרת השקעות נדל”ן בחו”ל

 

במסגרת הריאיון, דן לורנס בהשפעות הקורונה על שוק הנדל”ן הגלובלי ודרכי ההתמודדות הננקטות כעת

 .בארה”ב ובאירופה

לקריאת הכתבה המלאה, לחצו כאן

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