16 September 2020
UK: English High Court provides welcome guidance for policyholders in FCA Business Interruption Insurance test case
www.twobirds.com/en/news/articles/2020/uk/english-high-court-provides-welcome-guidance-for-policyholders

On Tuesday 15 September, the English High Court published its highly anticipated judgment in the FCA's expedited business interruption insurance test case, The Financial Conduct Authority v Arch and Others [2020] EWHC ...

28 October 2020
France: Losses incurred as a result of the COVID-19 pandemic: the battle is intensifying between insurers and merchants before the French courts
www.twobirds.com/en/news/articles/2020/france/losses-incurred-as-a-result-of-the-covid-19-pandemic-the-battle-is-intensifying-between-insurers

After a widely reported first decision issued by the Paris Commercial Court on 22 May 2020 in the Rostang vs. Axa France case, disputes between insurers and merchants (in most instances, restaurateurs) before the French ...

23 March 2020
The impact of Coronavirus on banking arrangements in the hotel sector
www.twobirds.com/en/news/articles/2020/global/the-impact-of-coronavirus-on-banking-arrangements-in-the-hotel-sector

As countries shut borders, advise against travel and lock down entire countries, many hotels are considering closing their doors. The worldwide disruption caused by the COVID-19 pandemic has created an unprecedented ...

03 April 2020
COVID-19: Germany's Federal Government announces Start-Up aid-programmes
www.twobirds.com/en/news/articles/2020/germany/covid-19-germanys-federal-government-announces-start-up-aid-programmes

On 1 April 2020, the Federal Ministry of Finance alongside the Federal Ministry for Economic Affairs and Energy have announced a tailored start-up aid programme worth EUR 2 billion, to combat COVID-19 related recession.

03 April 2020
COVID-19: Germany establishes Economic Stabilisation Funds
www.twobirds.com/en/news/articles/2020/germany/covid-19-germany-establishes-economic-stabilisation-funds

To combat the Novel Coronavirus (COVID-19), the German Federal Government is taking a wide array of measures. Revisiting a proven instrument to combat economic upheaval, the government has established a EUR 600 billion ...

31 March 2020
KFW emergency liquidity assistance to combat COVID-19
www.twobirds.com/en/news/articles/2020/germany/kfw-emergency-liquidity-assistance-to-combat-covid-19

To combat COVID-19 and its economic impact, German state-owned development bank Kreditanstalt für Wiederaufbau (KfW) has introduced the unlimited “KfW special programme 2020.” We have summarised the programme with ...

25 March 2020
COVID-19: International Restructuring & Insolvency update
www.twobirds.com/en/news/articles/2020/global/covid-19-international-r-and-i-briefing

As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have ...

07 April 2020
Strong Customer Authentication, Fraud and the Coronavirus Crisis: New UK FCA guidance to firms
www.twobirds.com/en/news/articles/2020/uk/strong-customer-authentication-fraud-and-the-coronavirus-crisis-new-uk-fca-guidance-to-firms

The Financial Conduct Authority (FCA) in the UK has published a series of updates on COVID-19 over recent days and weeks. On 31 March 2020, the FCA updated its guidance to firms on Strong Customer Authentication (SCA) ...

01 April 2020
PSD2 and limited network or limited range exclusions (e.g. gift cards): the deadline for reporting data relating to the activity carried out in 2019 has been postponed to 30 June 2020 in Italy
www.twobirds.com/en/news/articles/2020/italy/psd2-and-limited-network-or-limited-range-exclusions

Due to the current emergency caused by the COVID-19 epidemic, Bank of Italy has postponed from 30 April to 30 June 2020 the deadline for reporting data relating to the activity carried out in 2019 by the issuers of ...

25 March 2020
COVID-19 Update Germany: German government enacts a set of measures aiming to protect businesses from the effects of the current Corona crisis; amendments to German insolvency law in preparation
www.twobirds.com/en/news/articles/2020/germany/covid-19-update-germany--german-government-enacts

In order to protect German companies and their employees against the economic impact of the coronavirus, the German government has resolved on 23 March 2020 on a comprehensive set of measures. It is the largest ...