May Edition 2020

7 start-up, for approximately USD 900 million. As impressive as these numbers are, the medium and long-term effects on the Israeli economy will, to a large extent, depend on how quickly other markets recover and it will be also interesting to see whether the Corona crisis will have any long-term effect on Chinese investment in Israel. For many businesses, especially small businesses, the past few months have been a worrying tale of sink or swim. Many have sunk. Some may still do so. All are looking for professional legal advice to guide them through these choppy waters, especially employment and insolvency related advice. Businesses are seeking the latest advice regarding legislation, government programs, sick leave, business travel policy, and much more as they look to reassure their own staff, protect their mental wellbeing, implement remote working practices, and keep them informed of a fluid situation. "Clients are definitely seeking advice about employment and labor law matters, about taxes, about force majeure and frustration of contracts and about insolvency and restructuring of debts. Our insolvency department has been very busy," said Pomeranc . “Our clients are most concerned during this uncertain period regarding how to cut costs and for many of our clients, their workforce is their largest expense and there are not many government programs available to them,” adde d Simon Weintraub , a partner in Yigal Arnon ’s International Corporate Group and Co-head of the firm's China Practice and Oil & Gas Practice. “Although many clients have taken advantage of the ability to place employees on temporary leave allowing such employees to collect unemployment insurance. This raises many questions for clients which often require very detailed labor law analysis and assistance to help find creative solutions. We are also seeing many of our clients ask questions about insolvency law and how to legally act during uncertain times.We have also been assisting banks and other creditors who have loaned funds during better times but are now concerned about defaults and potential defaults.” EBN’s Toledano adds: “Our Labor department was very busy due to changing governmental orders and regulations concerning employment and a huge wave of employees who were forced into leave of absence. Our litigation department advised many clients concerned about frustration of contracts, Material Adverse Effect issues and the like. Our Insolvency department advised lenders and bond holders regarding the acceleration or Legal Advice Needed