Rimon

COVID-19 Mexico: Baja California Orders Temporary Closure of Maquiladoras

Insight Juan Zuniga Juan Zuniga · Mariana Acedo Mariana Acedo · April 27, 2020
The Secretary-General of the State of Baja California, Amador Rodriguez, ordered the temporary closure of all maquiladoras[1] as of April 16, 2020. The Secretary-General explained that this measure was taken after many companies continued operations, despite not being considered “essential” activities as defined in the order promulgated

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A First Timers Guide to Down Rounds

Insight Dror Futter Dror Futter · April 27, 2020
Remember that glorious period that seems like a lifetime ago when VC's were competing to fund your venture and offer you the most founder-friendly terms and valuations? Well after a decade of valuations always seeming to climb "up and to the right," the rules have changed. For most companies, their next funding round is likely to be a down

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COVID-19: Mexico Declares Public Health Emergency

Insight Juan Zuniga Juan Zuniga · Mariana Acedo Mariana Acedo · April 15, 2020
On March 30, 2020, the Mexican government declared a public health emergency due to the COVID-19 pandemic. Consequently, the Ministry of Health issued new measures to suspend all “non-essential” activities until April 30, 2020 (the “Order”), and established that only those activities deemed “essential” may

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Covid-19 Tax News: FBAR filing

Insight Melinda Fellner Bramwit Melinda Fellner Bramwit · April 09, 2020
COVID news for Taxpayers: Don’t worry about your FinCEN Form 114 (your FBAR) – it is not due until October 15, 2020 You may know that the FinCEN Form 114, Report of Foreign Bank and Financial Accounts (“FBAR”) is used to report a financial interest in or signature authority over a foreign financial account. The FBAR must

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Insurance Coverage and the Coronavirus

Insight Jill Haley Penwarden Jill Haley Penwarden · March 31, 2020
Virtually every business is suffering losses due to the coronavirus pandemic, and many are looking to their insurance policies in hopes of relief. Whether coverage will be available will depend on the types of policies in place, as well as the specific coverage wording and exclusions to each policy. Every insurance policy is different,

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Memo on Force Majeure and COVID-19

Insight Juan Zuniga Juan Zuniga · Mariana Acedo Mariana Acedo · March 31, 2020
COVID-19: Excuse of Contractual Performance under California Civil Code Section 1511 The pandemic related to COVID-19 and the economic impact resulting from various stay-at-home orders raises concerns of whether such circumstances can justify non-performance of certain contractual obligations including under leases, loans or commercial contracts.

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Managing Contract Risks & Remedies in a Time of Coronavirus

Insight Joseph I. (“Joe”) Rosenbaum Joseph I. (“Joe”) Rosenbaum · March 31, 2020
While it’s sometimes said that one person’s failure to plan ahead doesn’t constitute an emergency for everyone else, but one couldn’t plan ahead for this current Coronavirus pandemic that now has indeed created an unprecedented, unforeseeable emergency with many scrambling to evaluate the consequences of a failure or

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Considerations on the Impact of the Novel Coronavirus Pandemic on Real Estate

Insight Juan Zuniga Juan Zuniga · March 30, 2020
Brad Hunter, managing director at RCLCO, writes in a March 24, 2020 article in Forbes that the effects of the economic slowdown caused by the novel coronavirus are “a serious threat to commerce, profits, jobs, and, ultimately, real estate. The duration of the downturn will be the key determinant of how long and in what ways the real

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COVID-19 and Border Restrictions

Insight Juan Zuniga Juan Zuniga · Mariana Acedo Mariana Acedo · March 30, 2020
As of March 21, 2020, various temporary restrictions affecting US borders and ports of entry have gone into effect. These travel bans were put in place to stop the spread of COVID-19 while trying to cause as little damage to the economy as possible. There are three categories of travel restriction currently in place; restrictions on entry into the

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Fine Art Consignment in the time of COVID-19: How safe is your Art?

Insight Sam Miller Sam Miller · March 30, 2020
As COVID-19/SARS-CoV-2 slithers insidiously among us, and fine art galleries, auction houses and fine art storage facilities shutter, the fine art market finds itself under considerable pressure. With no end in sight, the financial implications for art market professionals could be dire. Arnet reports that top-tier galleries are already

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