Client Alerts

European Guide to Government Aid Introduced in Response to COVID-19

By Anu Balasubramanian , Matthew Poxon & Jamie Holdoway

As governments continue to introduce new measures to respond to the economic consequences of COVID-19, businesses are having to digest a swathe of new legislation (most of which has been introduced on an emergency timetable and with little or no consultation) to assess whether they can access reliefs.

To help clients ascertain whether their businesses may be able to benefit from reliefs, Paul Hastings’ European practice, working alongside select local counsel, has compiled a report on the key measures which have been introduced across Europe from the perspective of corporates and portfolio assets of financial institutions.

The report focuses on measures which:

1. extend liquidity by way of debt financing, and the conditions attaching to such financing;

2. implement tax reliefs and extensions of tax payments;

3. introduce moratoria with respect to existing insolvency regimes; and

4. defer rent payments.