The various thematic memos included below summarize the exceptional package enacted by the French State since the beginning of the lockdown (confinement) and aimed at supporting companies particularly affected by the economic and social consequences of the COVID-19 crisis.
These measures are intended, in particular, to preserve the cash flows of companies whose business is adversely impacted during the lockdown.
These thematic memos will be regularly updated by Goodwin's teams based on legislation published in the French Official Gazette (Journal Officiel) as well as announcements made by the Government and the relevant governmental bodies.
The thematic memos cover the following areas:
1. LABOR LAW
2. TAXES AND SOCIAL CONTRIBUTIONS
- Tax measures for the benefit of companies
- Specific measures regarding time limits applicable for tax audits purposes
- Social measures for the benefit of companies
- Measures applicable to distressed companies
Read the Memo
3. CORPORATE LAW
- Convening and holding of stockholders’ meetings and other board meetings
- Delays for approving the FY 2019 annual accounts
Read the Memo
4. FOREIGN DIRECT INVESTMENT
Communication « Foreign Direct Investment » : The European Commission requests Member States to fully implement their national regulations regarding the control of foreign direct investment (or, if not, to introduce the appropriate regulations) in the healthcare field.* In addition, the European Commission could also enforce its own powers under competition law to ensure a fair access to health facilities needed in the context of the pandemic and marketed/commercialized in the European Union by companies registered in third countries.
*(European Commission, Communication dated March 25th, 2020 (reference: C(2020) 1981 final))
Read the European *Commission* Communication
5. BPIFRANCE AND THE STATE GUARANTEE
- State guarantee system granted to credit institutions and to finance companies – Read the Memo
- Notion of distressed company under European Union law – Read the Memo
- Exceptional measures implemented by Bpifrance. Read the Memo
6. INTRODUCTION OF A SOLIDARITY FUND
Read the Memo
7. PAYMENTS OF SUPPLIERS OF ELECTRICITY, GAS AND WATER AND PAYMENTS OF LANDLORDS
Read the Memo
8. EMERGENCY SUPPORT PLAN DEDICATED TO SUPPORT START-UPS
Read the Memo
9. LEGAL AND CONTRACTUAL DEADLINES/TIME LIMITS
- Measures applicable to civil courts and to co-ownership agreements
- Extension of time limits during the state of health emergency and adaptation of legal proceedings during the state of health emergency
Read the Memo
10. AMICABLE PROCEEDINGS AND INSOLVENCY PROCEEDINGS
- Adaptation of the rules for distressed companies
Read the Memo
