Coronavirus: Impact on the activities of companies

The recent news on the Coronavirus (COVID-19), in particular, on its impact and spread, have made it imperative for us to consider the potential impacts – financial, operational and, in general, legal – on the lives of companies. Companies that operate in the areas most affected by the virus, or whose activity depends on suppliers or customers in those areas, must ensure they analyse its impact on their businesses activities very carefully. In particular, company directors are bound by duties of care and loyalty that require them to control the exposure of companies to the financial risk resulting from the impact of the Coronavirus. These duties require them to adopt a set of proactive measures. Directors are also bound by preventive information duties intended to protect the public and the people and companies they do business with.