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

The Israel-Japan Chamber of Commerce Introduces New Initiative for Promoting Economic Cooperation Between the Countries

Posted in Culture, General, Global

The Israel-Japan Chamber of Commerce recently announced a new initiative aimed at securing funds from the Israeli government to support Israeli companies with strong business ties to Japan. The emphasis is on hi-tech companies, startups, exporters and trading companies.

 In recent years, Japan-Israel relations have been blossoming in the business and cultural arenas. The Chamber believes it is appropriate for the Israeli government to consider providing support directed specifically towards maintaining the pre-COVID-19 status between the countries, as well as to prepare for the future after the pandemic. The Israel-Japan Chamber is inviting invites companies and organizations to share their ideas with Ms. Sophiya Gugelev, General Manager of the Chamber (please use the following email address to contact Ms. Gugelev: isrjapan@netvision.net.il). The ideas collected will be shared with the Economic and Treasury Ministries as well as the Prime Minister’s Office. Greenberg Traurig’s Tel Aviv office is a longstanding member of the Israel-Japan Chamber and is proud to support this initiative.

With 41 offices worldwide, Greenberg Traurig is one of the largest law firms in the world. It is the only international law firm with offices both in Israel and Japan. Our offices in Tel Aviv and Tokyo frequently collaborate on various initiatives every year. Especially during these times,  we work closely together to support our clients in Israel and in Japan, in order to assist them in managing the implications of COVID-19.
To learn more, please reach out to GT Tel Aviv’s Managing Shareholder Joey Shabot, or to our Tokyo office Managing Shareholder, Koji Ishikawa.

 

לשכת המסחר ישראל-יפן מציגה יזמה חדשה לקידום שיתוף הפעולה הכלכלי בין המדינות

Posted in Uncategorized

לשכת המסחר ישראל-יפן יצאה לאחרונה ביזמה חדשה, בה היא תרכז פניות והצעות מהציבור שמטרתן לקדם סיוע של מדינת ישראל לחברות ישראליות הפועלות באופן סדיר מול יפן (בדגש על חברות הייטק, סטארטאפ, יצואנים, יבואנים וחברות סחר).

בשנים האחרונות, ישנה פריחה ביחסי הגומלין שהתפתחו בין המדינות. ליחסים אלה מאפיינים ייחודיים- כלכליים, עסקיים ותרבותיים ועל כן, סוברת הלשכה כי יש מקום ליזום מתן סיוע ספציפי לשימור המצב של ימי טרום-קורונה וכן על מנת להיערך ליום שאחרי.

 לשכת המסחר ישראל-יפן מזמינה חברות וגופים לשלוח את רעיונותיהם בנושא לגב’ סופיה גוגלב, מנהלת הלשכה (אנא שלחו מייל לגב’ גוגלב בכתובת isrjapan@netvision.net.il). הרעיונות יאוגדו ויועברו למשרדי הכלכלה, האוצר ומשרד רוה”מ באופן מסודר.

פירמת גרינברג טראוריג היא בין פירמת עורכי הדין הגדולות בעולם ולה 41 משרדים ברחבי העולם. זוהי הפירמה הבינלאומית היחידה לה משרד פיזי בישראל וכן משרד ביפן. משרדינו בתל-אביב ובטוקיו עובדים בשיתוף פעולה הדוק ומוציאים לפועל יוזמות משותפות רבות מדי שנה. בימים אלה, אנו עובדים יחד על מנת לתמוך בלקוחותינו בישראל וביפן בכדי לסייע בהתמודדותם עם השלכות נגיף קורונה.

ליצירת קשר, אנא פנו לג’ואי שבות, מנהל משרדנו בתל-אביב או לקוג’י אישיקאווה, מנהל משרדנו בטוקיו.

 

What to Do Now With Your CARES Act PPP Loan

Posted in Corporate, Corporate & Securities, COVID-19, Government Law and Policy

 

:הבהרות בדבר הסיכונים הכרוכים בקבלת הלוואה תחת התכנית להגנת שכר

The Paycheck Protection Program (PPP Loans)

במהלך עשרת הימים האחרונים התפרסמו מספר הנחיות אשר, יחד עם התבטאויות של בכירים בממשל האמריקני, מעבירות את המסר לפיו הפיקוח על קבלת הלוואות תחת ה- Paycheck Protection Program יתהדק.  ההנחיות מנוסחות באופן המותיר לא מעט אי בהירות לגבי הזכאות לקבלת ההלוואות. הפוסט המצורף מתאר את תמונת המצב לעת עתה. 

ליצירת קשר בנושא, אנא פנו לעורכי הדין המתמחים בנושא, אפרים שמיידלר ואהרון כץ. אפרים ואהרון חברים במחלקת התאגידים במשרדנו בתל-אביב ולהם ניסיון רב בעבודה מול לקוחות ישראלים הפועלים בארה”ב.

A Warning

Those who have obtained Paycheck Protection Program (PPP) loans (or have applied or been approved for such loans but not yet received the loan proceeds) have been warned by the U.S. federal government to make sure that they, in fact, qualify for the loans. Secretary Mnuchin exonerated lenders who processed the loans and warned that it is the borrowers themselves who sign the application and make the relevant certifications who face potential criminal action for false certifications. Borrowers have now been given a grace period until May 7, 2020, to repay loans they may have obtained “based on a misunderstanding or misapplication of the required certification standard.” This short — now less than one-week — period gives PPP loan borrowers very little time to act, and is aggravated by the ambiguity of applicable regulatory and other guidance as discussed below.

Thinking About What to Do

Borrowers are, and should be, asking, “what do we do about our PPP loan?” They are doing so in a unique moment. Indeed, a former member of a Congressional oversight board following the last financial crisis opined in the Wall Street Journal: “[B]orrower beware! Businesses with flexibility should seriously consider to what extent accepting the terms of federal loans or other support may be a Faustian bargain. The ultimate cost may dramatically outweigh the temporary gain.” Understanding the issues that inform the answer to this question unfortunately involves some detailed analysis as discussed in the full alert.

Read the full GT Alert, “What to Do Now With Your CARES Act PPP Loan”

Now That I Have My Paycheck Protection Program Money, What Can I Do with It?

Posted in Capital Markets, Corporate, COVID-19, Washington D.C.

Q. Assuming I properly received PPP funds, what can I spend it on?

A. The allowable uses of PPP loan funds are as follows:

  • 75% of the PPP loan funds must be used for payroll costs for U.S. resident employees (salaries are capped at $100,000 per employee),
  • The remaining 25% may be spent on:
    • Costs related to the continuation of group health care benefits during periods of paid sick, medical or family leave (other than qualified family or sick leave wages for which a credit is allowed under Sections 7001 or 7003 of the Families First Coronavirus Response Act), and insurance premiums
    • Payment of interest on any mortgage obligation (but not on any prepayment of principal)
    • Rent
    • Utilities
    • Interest on any other debt incurred before Feb. 15, 2020

Q. If a use is allowable, does that mean my loan is forgiven?

A. Not necessarily. Debt forgiveness hinges on a number of factors and a more limited set of uses. See the related questions below.

 Q. What if I use the loan, in whole or in part, for a purpose that is not an allowable purpose?

 A. You should not use the loan for purposes that are not allowable uses. It creates the possibility that you could face civil and criminal penalties for fraud if the government believes you knowingly used the loan for uses that are not allowable.

Q. What are the terms of my PPP loan?

 A. PPP loans have a term of two years, bear interest at 1% per annum and require no principal payments for the first six months, although interest accrues.

Read the full GT Alert, “Now That I Have My Paycheck Protection Program Money, What Can I Do with It?

New Guidance on PPP Loan Eligibility: Hedge Funds, PE Funds, and Businesses with Access to Liquidity

Posted in Banking & Financial Services, Corporate & Securities, COVID-19, Global, Israel, Labor & Employment

Many Israeli companies have operations set up in the US, thus have been adversely affected by COVID-19 on both the Israeli and American fronts.

The US government recently announced adding additional funds to the PPP loans, making it possible for eligible companies, certain Israeli corporations included, to apply for funding.  The US government also provided additional clarifications as to its position regarding the eligibility of companies to borrow, particularly businesses owned by large companies with adequate sources of liquidity to support the business’s ongoing operations.

On April 16, 2020, the $349 billion Paycheck Protection Program (PPP), overseen by the Small Business Administration (SBA), ran out of funding as companies applied for relief. On April 24, 2020, an additional $310 billion was made available for PPP loans. Since the PPP funds ran out, there has been a public focus on companies that applied for and received PPP loans. Indeed, certain entities have announced that they planned to return funds received under the PPP or as part of other programs under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). On April 23, 2020, the SBA and Treasury Department issued guidance (released in the form of an FAQ) (FAQ Guidance) with respect to businesses owned by large companies that have received PPP funds, highlighting the complex affiliation rules and a key required certification involved in obtaining a PPP loan. The FAQ Guidance was re-emphasized in new rules that were issued on April 24, 2020 by the SBA. In both cases, the SBA stated that any borrower who applied for a PPP loan prior to the guidance and who repays its loan by May 7, 2020 will be deemed to have made its certification in good faith.

In addition to the specific certification highlighted in the FAQ Guidance and new rules discusses in the full Alert, each application requires certifications that information provided therein is true. An applicant may be exposed to significant legal consequences for false certifications or false statements. Each application is also subject to potential public disclosure under the Freedom of Information Act.

While the PPP rules (particularly the affiliation rules) can be complex, the SBA and Treasury Department have provided some clarification over the past few weeks. Borrowers (and potential borrowers) should consider their applications and applicable rules carefully with counsel, as appropriate, in light of these current developments and the safe harbor period ending on May 7, 2020.

Greenberg Traurig’s Tel Aviv office attorneys who are members of the firm’s COVID-19 Economic Stimulus Team include Labor & Employment Shareholder Meira Ferziger as well as Of-Counsel Ephraim Schmeidler and Associate Aaron Katz of the Corporate Practice. Our team caters to the various legal needs of Israeli clients, specifically in facing the complex and dynamic front of the effects of COVID-19.

Read the full GT Alert, “New Guidance on PPP Loan Eligibility: Hedge Funds, PE Funds, and Businesses with Access to Liquidity

הצטרפו אלינו: עדכונים בדבר יוזמות הסיוע לחברות ישראליות עם פעילות בארה”ב

Posted in Corporate & Securities, COVID-19, Event, Global, Labor & Employment

 

הצטרפו לעורכי הדין מאירה פרזיגר, אפרים שמיידלר ואהרון כץ ממשרד גרינברג טראוריג בתל-אביב, לוובינר אינפורמטיבי בנושא

חדשות הקורונה מאמריקה  – עדכונים בדבר יוזמות הסיוע לחברות ישראליות עם פעילות בארה”ב

 יום חמישי, 23.04.2020

14:00-15:00

 רישום מראש אינו נדרש
אנא לחצו כאן להצטרפות

 

:אג’נדה

 

Greenberg Traurig Is Proud to Represent Redhill Biopharma Treating COVID-19 Patient with Opaganib in Israel Under Compassionate Use

Posted in Intellectual Property, Israel, patents

Greenberg Traurig is extremely proud to represent Redhill Biopharma with the recent announcement of providing an initial update on the compassionate use program with its investigational drug, opaganib, in patients with confirmed SARS-CoV-2 infection (COVID-19) in Israel.

RedHill Biopharma is a longstanding client of GT’s Barry Schindler, Chair of Greenberg Traurig’s Global Patent Prosecution Group, and an active member of the firm’s Israel Practice.

RedHill Biopharma, a biopharmaceutical company focused on gastrointestinal diseases, treated their first two patients with opaganib at a leading hospital in Israel. At the time of treatment initiation, both patients suffered from moderate to severe acute respiratory symptoms related to SARS-CoV-2 infection, required supplemental oxygenation and were hypoxic despite being treated with maximum flow of oxygen with cannulas.

Greenberg Traurig is committed to supporting the Israeli industry. Especially now, we work closely with local technology companies working on innovative solutions to the unique issues facing the global community during these critical times.

Greenberg Traurig takes pride in guiding start-ups, large multinational public companies, research organizations, and not-for-profit care providers, as well as investors, venture capital funds, and public agencies from discovery through commercialization and product marketing.

To view the full press release, please click here.

Poland’s ‘Crisis Shield’ from the Real Estate Perspective

Posted in Real Estate


On 21 March 2020, a project of a bill amending the recently enacted Emergency Act related to the Prevention, Counteracting and Combating of the COVID-19 Pandemic, was presented by the Polish government and known as the “Crisis Shield”.  This remarkable initiative of the Polish government will provide an automatic 90% rent reduction to retail tenants whose operations are prohibited or restricted during the COVID-19 Pandemic and who are located in shopping centers larger than 2,000 sqm.

Read the full GT Alert, “Poland’s ‘Crisis Shield’ from the Real Estate Perspective

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