The fight against COVID-19: an all-around approach

The epidemiological emergency due to the Covid-19 outbreak is dominating the news, representing a real hairpin bend in history, from several standpoints.

In a few weeks, the epidemic has turned from being a mostly Asian problem to the first pandemic of truly global dimensions, an event having a disruptive impact on a wide range of sectors of a globalized economy such as the one we live in.

The current pandemic has affected all sectors, making it difficult to draw up, as of now, a clear picture of its consequences in economic as well as social terms.

We do believe it is necessary to distinguish between short- and long-term consequences, according to scenarios affected by the persistence of the contagion, as well as between effects on the individual production sectors directly concerned and general effects on the Italian (but also European and international) economic system as a whole.

In such context, as is known, the Italian Government has decided to adopt some extraordinary and urgent measures to counter the spread of the virus and to strengthen the national health system, starting from the declaration of the state of emergency made by the Council of Ministers on 31 January 2020. Such measures have affected and are affecting – more or less directly – the organisation and business activities of the companies operating basically in all production industries, as well as the free movement of individuals.

All Nctm's departments, each in its respective practice area, have examined and continue to monitor the regulatory changes that are taking place every day, analysing their contents in detail and assessing their impact on businesses.

Below we have therefore prepared a virtual table of contents including all the main contributions that our departments have made since the beginning of the emergency to date.

The table of contents is organised by areas of activity. By clicking on each link, you will be immediately directed to the relevant contribution.

In this way we are confident that we can provide our readers with an in-depth and multidisciplinary insight into the impact of COVID-19 on the business world.

Needless to say, given the current state of emergency, the regulatory framework is constantly evolving and it is therefore necessary to keep abreast of new regulations. For this reason, we invite our readers to monitor our website at www.nctm.it, where we will publish all forthcoming contributions.

CORPORATE & COMMERCIAL

1. The impact of Coronavirus (i) on commercial agreements and (ii) on certain corporate law aspects for companies

2. Coronavirus emergency: permitted and suspended business activities

3. The impact of the state of emergency resulting from COVID-19 on certain corporate law principles – Focus on the temporary changes provided in Decree Law no. 23 of 8 April 2020

BANKING & FINANCE

1. Liquidity Decree: SACE guarantee and strengthening of SME Guarantee Fund to face COVID-19 emergency

ADMINISTRATIVE

1. Urgent measures in the field of administrative justice, administrative proceedings and environmental compliance: the Cura Italia Decree and its extensions

ADMINISTRATIVE | REAL ESTATE

1. “Cura Italia” Decree: requisition of real estate property

CAPITAL MARKETS

1. New amendments to Article 120 TUF and new enhanced transparency requirements for major shareholding variations and declarations of intent

2. COVID-19: Consob issues operational guidelines to the market with regard to financial information, prospectuses and audits

3. COVID-19: Consob issues operational guidelines to the market on how to conduct shareholders’ meetings

INSURANCE

1. Urgent measures by the Italian government in the wake of the COVID-19 outbreak – Impact on D&O insurance policies

INTELLECTUAL PROPERTY

1. Suspension of terms related to intellectual property proceedings following COVID-19 measures

ART

1. During the Exhibition the Gallery Will Be Closed. Distance selling must be in written form: the rules for gallerists