The New FFCRA Regulations: Helpful Clarifications, a Few Surprising Answers
CLIENT ALERT By Karen A. Whitley April 6, 2020 On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (FFCRA), establishing two forms of paid leave for employees who need to take time off from work related to COVID-19 between April 1 and December 31, 2020. Since March 18, the Department of […]
SBA Issues Interim Final Rules and Final Form of Application for Paycheck Protection Program
CLIENT ALERT By: Colleen Lyons April 3, 2020 Yesterday afternoon, the US Small Business Administration (“SBA”) issued Interim Final Rules regarding the Paycheck Protection Program. These proposed rules contain some important new information for borrowers and in some cases, changes to the guidance provided earlier by the SBA and US Treasury Department (the “Treasury Department”). […]
CARES Act Provides Benefits to Nonprofit Organizations
CLIENT ALERT By: Alexander Pyle April 2, 2020 The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was enacted on March 27, 2020, includes a number of provisions applicable to nonprofit organizations. This client alert highlights some of the most significant of these provisions. Paycheck Protection Program. This program, administered by the […]
Commercial Loan Defaults Resulting from the COVID-19 Pandemic-Work it Out
CLIENT ALERT By: Margaret Probish April 2, 2020 On March 22, 2020 the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau, and the State Banking Regulators (collectively the “Agencies”) issued […]
CARES Act: Expansion of the Accelerated Payment Program: A Needed Lifeline for Medicare Providers
CLIENT ALERT By Andrew Eills April 2, 2020 Medicare providers are likely feeling the financial hardships caused by lower volumes, cessation of non-elective procedures, and possible staff shortages due to the novel coronavirus (COVID-19). To increase cash flow for health care providers, the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act and subsequent […]
Paycheck Protection Program Application Process and Guidelines Established
CLIENT ALERT By: Colleen Lyons April 1, 2020 Earlier this week we provided an Alert concerning the Paycheck Protection Program established under the CARES Act. On Tuesday, March 31, the US Treasury Department released the Application Form for the Paycheck Protection Program along with the following additional general guidance concerning the Paycheck Protection Program: An Overview […]
NH Attorney General Permits Not-For-Profit Boards to Meet Remotely During State of Emergency
CLIENT ALERT By: J.P. Harris March 31, 2020 Just as for-profit leaders adapt to social distancing and conducting business remotely, so too must not-for-profit leaders find ways to persevere while minimizing face-to-face meetings. The New Hampshire Attorney General’s Office, Charitable Trusts Unit issued an advisory making it a little easier for not-for-profits to conduct board […]
Do You Know Where Your Sublicenses Are? First Circuit Validates Implied Copyright Sublicense
CLIENT ALERT By: Michael Stanley and Michael Lambert March 31, 2020 The First Circuit, in an issue of first impression in the federal circuit courts, put copyright holders on notice: non-exclusive copyright licensees may sublicense copyrights by implication. Photographic Illustrators Corp. v. Orgill, Inc., No. 19-1452 (1st Cir. Mar. 13, 2020).[1] This means that a […]
Delaware Giveth…But will other States Take it Away: Using Federal Forum Provisions for Shareholder Claims
CLIENT ALERT By: Michael Stanley and Michael Lambert March 31, 2020 On March 18, 2020, in Salzberg v. Sciabacucchi, No. 346, 2019 (Del. Mar. 18, 2020), the Delaware Supreme Court held that federal forum provisions in corporate charters, requiring claims under the Securities Act of 1933 (the “1933 Act”) to be litigated in federal […]
CARES Act Tax Benefits for Individuals
CLIENT ALERT By: Peter Beach March 30, 2020 The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020. This article discusses the tax relief provisions for individuals that are contained in the Act. Recovery Rebates The bill provides a $1,200 refundable tax credit for individuals ($2,400 for taxpayers filing […]
