As countries all over the world struggle with the COVID-19 epidemic, and the heroes that passionately give their service to the sick and needy, we at IPO PANG want to thank them and pay tribute to them. Doctors, nurses, first responders and all the health care workers all show uncommon courage in these uncommon times. We all hope this pandemic will be behind us sooner than later and know that we together as a community, as the world, will conquer this pandemic.
With the global economy in shambles and unemployment at record highs, we know these are trying times where restructuring of one’s organization and business model will be crucial in the months ahead. At IPO PANG, we are experts at helping companies reduce their “burn”, restructure their debt, assist companies with force majeure interpretation, enforcement and workouts, regardless of whether you are the seller or the buyer, and finally, assist companies with the complex task of workforce reduction, furloughs or terminations. If a debt needs to be restructured, we can assist. If there is government incentive for the enterprise, we are on top of it on behalf of our clients to ensure they don’t miss the boat. If management and oversight of overseas operation is not possible with physical visits, IPO PANG stands ready to assist with our staff of seasoned legal assistants who can economically assist companies to continue operations remotely but taking over certain management functions as a conduit and implementer. Where being in China is physically not possible or advisable, we stand ready to fill the gap with seasoned, matured and knowledgeable staff so clients can rest assured that work continues seamlessly. Some of the tasks we perform include:
- Serve as Legal Representative for WFOE’s
- Assist with legal audits
- Attend board meetings, local management meetings serving interest of Corporate Headquarters
- Provide translation, translators and interpreters on legal matters
- Negotiate contracts, renegotiate contracts, restructure leases, terminate employees, wind down or sale of non-performing assets
- Assist with identification and reduction of expenses
- Assist with identification of suppliers of PPE, Masks, Ventilators and related equipment
- Serve as escrow agents for buying and selling of Coronavirus related sanitary products
- Legal assistance with interpretation of contracts, leases and other agreements that might be at risk due to slow down in economy
- Attend arbitration and other dispute resolution proceedings due to Coronavirus related issues
COVID-19 has caused havoc with the economy. But clients don’t have to stay suppressed or depressed by the pandemic as a silver lining in all of this is that it is a wakeup call for us to relook and reassess our own business and business models, including who our partners are and who we do business with. The “new normal” maybe to shed traditional “old school, old boys” club and follow a more nimble network where emphasis is on deliverables, realizing every penny counts. At IPO PANG, we not only know, we know how.™
COVID-19 Legal Insight
Below please find this special section with blogs, articles, briefings and legal updates that relate to COVID-19 and the impact it has had on businesses worldwide, including China.
The section is dedicated to the men and women who have fought so valiantly and selflessly to save the lives of so many and to the memories of those tragic lives we have lost. As human beings and together, as humanity, we can conquer this disease and bring the global economy back to its former vibrant state.
We hope our perspective, our insights, and our advice will be one small step towards helping all of us understand each other better and one small gesture of friendship to our friends and acquaintances around the world. Until we meet in person, stay well and stay safe.