On 6 July 2020, Royal Decree-law 25/2020 of 3 July on urgent measures to support economic recovery and employment, (“RDL 25/2020”), was published in the Official State Bulletin and entered into force on 7 July. RDL 25/2020 establishes a series of measures, mainly of an economic nature, which expand upon and enhance those already adopted by means of the Royal Decree-laws approved in recent months to promote economic recovery following the end of the state of alarm approved by virtue of Royal Decree 463/2020 of 14 March, which declared the state of alarm for the management of the health crisis caused by COVID-19 (“Royal Decree 436/2020”), and its respective extensions.
Among other measures, RDL 25/2020 (i) provides for the creation of a fund to support the solvency of strategically important companies; (ii) approves a guarantee facility aimed at encouraging financing for investment; and (iii) includes a package of measures to support the tourism sector, including the approval of a moratorium on the payment of the principal of loans secured by mortgages on property used to operate businesses in the tourism sector.
We will briefly analyse these measures in this Special Information Briefing.
RDL 25/2020 creates a fund to support the solvency of strategically important companies (the “Fund”), which will be initially endowed with EUR 10 billion and whose objective is to provide temporary public support to strengthen the business solvency of non-financial companies that are considered strategically important to national or regional business sectors, and that have been affected by the COVID-19 pandemic.
The entire content of the Information Briefing can be found in the PDF.
Special Information Briefing COVID-19 (No. 26): Royal Decree-law 24/2020 of 26 June on social measures to stimulate employment and protect self-employed individuals and the competitiveness of the industrial sector
29/06/2020Special Information Briefing COVID-19 (No. 25): Key details on the fifth tranche of the guarantee facility provided in RDL 8/2020 and 15/2020
18/06/2020Special Information Briefing COVID-19 (No. 24): Royal Decree-law 21/2020 on urgent prevention, containment and coordination measures to deal with the health crisis
11/06/2020Special Information Briefing COVID-19 (No. 23): Royal Decree-law 19/2020 adopting additional agricultural, scientific, economic, employment, social security and tax measures
29/05/2020Special Information Briefing COVID-19 (No. 22): Fifth extension of the state of alarm: lifting of the suspension of deadlines
25/05/2020Special Information Briefing COVID-19 (No. 21): Key details on the fourth tranche of the guarantee facility provided in RDL 8/2020 and 15/2020
20/05/2020Special Information Briefing COVID-19 (No. 20): Employment measures provided for in RD-l 18/2020
14/05/2020Special Information Briefing COVID-19 (No. 19): Key details on the third tranche of the guarantee facility provided in RDL 8/2020 and 15/2020
14/05/2020Executive Summary of the Special Information Briefing COVID-19 (No. 18): Impact of the state of alarm on corporate income tax for the 2019 tax year
12/05/2020Special Information Briefing COVID-19 (No. 17): The recapitalisation of undertakings by Member States in the exceptional circumstances created by the COVID-19 outbreak
11/05/2020Special Information Briefing COVID-19 (No. 16): Royal Decree-law 16/2020, of 28 April, on procedural and organisational measures to deal with COVID-19 in the context of the administration of justice
29/04/2020Special Information Briefing COVID-19 (No. 15): Insolvency and corporate measures RDL 16-2020
29/04/2020Special Information Briefing COVID-19 (No. 14): Royal Decree-law 15/2020, of 21 April, on additional urgent measures to support the economy and employment
22/04/2020Special Information Briefing COVID-19 (No.13): Tax Measures approved as a result of COVID-19
16/04/2020Special Information Briefing COVID-19 (No.12): Royal Decree-law 11/2020 of 31 March, adopting additional urgent social and economic measures
02/04/2020Special Information Briefing COVID-19 (No.11): Issues to consider in the area of pre-insolvency and insolvency
01/04/2020Special Information Briefing COVID-19 (No.10): Restrictions on movement and recoverable paid leave for employees who do not provide essential services
30/03/2020Special Information Briefing COVID-19 (No.9): Complementary measures relating to employment adopted by Royal Decree-Law 9/2020
28/03/2020Special Information Briefing COVID-19 (No. 8): Key details on the first tranche of the Official Credit Institute’s guarantee facility for companies and self-employed individuals
28/03/2020Special Information Briefing COVID-19 (No.7): Main questions on the practical application of the public procurement measures approved as a consequence of COVID-19 in Royal Decree-Law 8/2020 of 17 March
21/03/2020Special Information Briefing COVID-19 (No. 6): The legal consequences in the civil sphere due to potential contractual breaches resulting from COVID-19
19/03/2020Special Information Briefing COVID-19 (No. 5): Legal proceedings during the state of alarm
19/03/2020Special Information Briefing COVID-19 (No. 4): Royal Decree-Law 8/2020 of 17 March on extraordinary urgent measures to address the economic and social impact of COVID-19
18/03/2020Special Information Briefing COVID-19 (No. 3): Communications from public bodies
17/03/2020Special Information Briefing COVID-19 (No. 2): State of Alarm
15/03/2020Special Information Briefing COVID-19 (No. 1): Latest updates and Practical Guide
13/03/2020