A team of specialists has been assembled from top UK and US firms to help countries review laws and regulations
The Commonwealth tapped elite law firms in the UK and the US to help member countries amid the coronavirus pandemic.
Called the COVID-19 Business Law Response Initiative (COBULRI), the project launched by the association of 54 countries will offer guidance and knowledge to governments of developing countries, particularly on legislative change as nations face the crisis.
COBULRI will work with experts from Slaughter and May and Milbank, who will work pro bono in carrying out in-depth research and formulating proposed legislative changes in areas countries say there is a need for change.
The Commonwealth is also encouraging other law firms that are willing to work on a pro bono basis to take part in COBULRI.
The Commonwealth said that it has already formed a team of specialists from Slaughter and May and Milbank, which will also coordinate with experts in the countries being supported to ensure advice is tailored to domestic legal frameworks.
“This scheme aims to help member countries steer through measures that will protect businesses and economies which are facing up to the enormous financial consequences of the COVID-19 outbreak,” the organisation said.
The program’s focus includes job-retention schemes, corporate financing, data protection, and business rate breaks, it said.
“It is at these times of stress, when our countries are threatened by COVID-19, climate change such as several Category 5 storms in the Pacific, and the prospects of a financial meltdown, that we become more aware of the need to join hands and galvanise all possible efforts,” said Patricia Scotland, Commonwealth secretary-general. “This includes pooling knowledge and resources across our public and private sectors to alleviate some of the negative impacts COVID-19 has on businesses and the economy.”
She said that member countries need to build on the advantages offered by the close ties shared through the legal systems of each country, especially given the likely economic impact of the pandemic.
“This initiative will assist our members to implement measures, with tailored solutions contextualised to the needs of each country,” she said. “By working together in this way, our Commonwealth connections can help to save livelihoods and rebuild economies at a time when many of our members’ resources are stretched to breaking point.”
