Anti-crisis shield 4.0 - Newest solutions for employers
In the latest alert, we present a summary regarding issues that pertain to employees introduced as a next part of the 'Anti-crisis shield'. Important changes concern in particular the Act of March 2, 2020 on specific solutions related to the prevention, counteracting and combating of COVID-19, other infectious diseases and crisis situations caused by them (the “Coronavirus Act”). This is introduced by the Act of June 19, 2020 on interest rates subsidies for bank loans granted to entrepreneurs affected by the effects of COVID-19 and on simplified proceedings for approval of arrangements in connection with COVID-19 (so-called "Anti-Crisis Shield 4.0"). It is the fourth aid package to counteract the economic effects of the Covid-19 epidemic. It enters into force in principle today, apart from certain retroactive provisions.
The Anti-crisis shield 4.0 primarily sets out the rules for the application of interest subsidies for bank loans granted to entities specified in the Act, which have found themselves in a difficult financial situation having incurred negative economic consequences resulting from the spread of COVID-19. It also provides further solutions in the field of labour law addressed to employers. Some of them are only available to companies whose activities have been affected by the effects of COVID-19 (in accordance with statutory definitions), while others can be used by all employers at a given time.
More detailed information is presented in the Alert.