NJORD Estonia: Salary compensation can be applied for from April 6, 2020
Loe eestikeelset versiooni SIIT
The Unemployment Insurance Fund has published an instruction of applying for the salary compensation, starting on April 6, 2020, on its website.
To run a smooth application process, the Unemployment Insurance Fund provides a replay of a webinar on its website, explaining how the application procedure in the E-Töötukassa environment works. During the webinar, a detailed overview of the submitted documents will be provided and frequently asked questions will be answered. According to the recommendations of the Unemployment Insurance Fund, a company that wishes to apply for the benefits for more than 100 employees should wait until April 9, 2020 to submit an application. This is because it is then technically possible to present a larger amount of data at one go (e.g. in an Excel spreadsheet).
The slides of the webinar can also be found on the Unemployment Insurance Fund's website.
Read the instructions of the Unemployment Insurance Fund or see the Unemployment Insurance Fund webinar (the webinar is only available in Estonian and Russian).
NJORD Lithuania: Is restructuring process a right solution for business in financial difficulties due to COVID-19 circumstances?
COVID-19 circumstances and quarantine regime imposed in Lithuania by the government, similarly to many other countries of the world, caused considerable damage in the business sector. Due to declared quarantine, supply of goods has been interrupted, settlements between companies have been delayed, workload has been reduced and profit has decreased, which also led to the dismissal of big numbers of employees. In consideration of these circumstances, the restructuring process regulated by the Law on Insolvency of Legal Entities of the Republic of Lithuania (hereinafter – LILE) may be considered as one of the solutions for the businesses in financial difficulties.
NJORD Estonia: e-Estonia revolutionizes corporate management
The emergency situation has raised the issue of the effectiveness of processes in a number of areas, including company law. Namely, with the advent of the emergency situation, it became impossible for some companies to hold meetings. In addition, it was difficult to make notarial transactions, and for some companies raising capital, this could be even fatal.
Pending changes to the existing Executive Order on Licencing Alternative Fund Managers to market Alternative Investment Funds from a Third Country in Denmark
On 27 April the Danish Financial Supervisory Authority (in Danish “Finanstilsynet”) initiated a public consultation about a draft to a new executive order on licencing Alternative Fund Managers (AIFM) to market Alternative Investment Funds (AIF) from a third country in Denmark (the “Executive Order”).