Many companies do not have the necessary cashflow to survive this period.
Considering the development of the international epidemiologic situation determined by the spread of coronavirus SARS-CoV-2, the President of Romania signed, on March 16, 2020 the “Decree for the Instituting of the State of Emergency in the Entire Territory of Romania”
In the context of rapid spread of the epidemic caused by virus COVID-19, the Parliament of Romania has adopted Law no. 19/2020 on the granting of days off to the parents for the supervision of their children, in the event of temporary closing of the education units where the children are registered.
The outbreak of the new coronavirus COVID-19 determines the adoption of necessary measures to limit the disease, such as quarantine, suspension of cultural events, temporary closing of public school units, performance of work at home and restriction of travels to and from the seriously affected areas. At the same time, the measures for the prevention of the spread of the virus and/or the ones of limitation/elimination of the outbreak caused by this virus have a significant impact on the performance of the ongoing agreements and on the undertakings’ activity.
The outbreak of coronavirus COVID-19 requires the assessment of the impact on the performance of credit agreements, both by the creditors and by the debtors, considering, inter alia, the possibility of interruption of the chain of supply against the background of restrictions regarding transport, quarantine/stay of performance of employment agreements or working from home.
The effects of the outbreak caused by virus COVID-19 have already started to be felt in companies’ business, more and more organizations choosing to take measures for prevention of the spread of this virus and for protection of their employees, by adjusting their business to the crisis situation.