COVID-19

• General obligations of employers
• Advice on measures available to minimise payroll costs
• Elements of government relief packages for businesses and self-employed
• Creating a safe working environment at the workplace as well as in the remote workplace
• Lay-off of employees due to sickness or shortage of work
• Notice of holiday and time off in lieu and dealing with overtime
• Decision on dismissals, including dismissals on a large scale

COVID-19 impacts on several aspects of M&A transactions:

• Due diligence and the circumstances of the company (financial, strategic, contractual, etc.)
• Available financing options, transaction documentation (impact on the ordinary course of business between signing and closing, introduction of MAC clauses, potential reservations as to financing, request for break fees, request for special warranties, management of particular risk factors, etc.)
• Negotiation phase, where finding acceptable compromises between the buyer and seller may potentially be more difficult
• Negotiation of investor solutions or loan/guarantee-based solutions ensuring a basis for the continued development of the business
• Advice in connection with a potential merger with another business to ensure a more solid future basis

• Construction law
  • Time and delays in construction projects
  • Financial implications resulting from delays
  • Managing and securing construction sites for shutdown
  • Delayed regulatory approvals
  • Force majeure
     
• Leases
  • Issues in commercial leases
  • Issues for landlords in residential leases
     
• Real estate
  • Sale or purchase of real estate
  • Pending cases before the Danish Land Registration Court

• Force majeure and loan agreements
• Postponement of general meetings in financial undertakings
• Response to covenant breaches in loan and security packages

• Force majeure in commercial agreements 

• The Danish Competition Act continues to apply. Anti-competitive agreements are illegal
• The Danish Competition and Consumer Authority has indicated that focus will be on businesses exploiting the crisis to their own advantage.
• Processing times will be longer – for mergers as well

• Liquidity crisis – what should management do?
• Assistance relating to refinancing
• Financial implications of COVID-19
• Order cancellations and possibilities for collection of claims
• Arrangements with creditors and possibilities for extension of payments
• When is the management obliged to file a bankruptcy petition itself?
• Available restructuring options

• Possibilities for preserving evidence and being granted temporary injunctions
• Prospects for cost recovery in enforcement proceedings
• Risks to the rights of a business if the business falls into distress and protection of these rights
• Special possibility for extension of deadlines in matters pending with the authorities
• Risks in the event of inability to fulfil obligations in relation to customers and business partners, including interpretation of force-majeure clauses etc.
• Risks involved in exploiting the crisis to one’s own advantage, e.g. by demanding higher prices or hardship allowance and risk premium
• Other particular considerations to be taken into account in marketing, e.g. in relation to ill and socially disadvantaged people, people put in isolation, etc.

IT

• Force majeure in IT contracts or commercial contracts
• Delivery or receipt of IT projects during lockdown
• Delays
• Failure to meet SLAs or KPIs
• Supply-chain implications

 Cyber security

• Safety and remote workplaces
• Role of the board of directors in cyber security

Data protection

• Questions to employees about COVID-19
• Disclosure of data about COVID-19
• Registration of data about COVID-19

• Assessment and management of COVID-19 implications for agreements concerning shipping, transport and logistics
• Interpretation and application of relevant contractual terms, including as to
  • the parties’ obligations and their fulfilment or non-fulfilment
  • inability to perform and difficulty in performing
  • delay and suspension of performance
  • force majeure
  • termination with or without prior notice and cancellation
  • liability in damages and claims for damages or compensation
  • governing law and settlement of disputes on claims for damages or compensation and any other claims before a court of law or arbitration tribunal
• Negotiation and conclusion of agreements to amend existing agreements
• Negotiation and conclusion of new agreements providing for adjustments due to COVID-19 implications
• Assessment and management of COVID-19 implications for contracts of insurance, including ship insurance, air transport insurance, truck insurance, business interruption insurance, liability insurance and cargo insurance

• Instalment agreement with the Danish tax authorities (pre-crisis)
• Assistance to businesses that have been granted extension of payments (pre-crisis)
• Deferral of payments of labour market contribution and income tax
• Deferral of VAT payments

• Government contracting
• Amendment, extension, etc.