At the end of March, the federal government committed $349 billion dollars in forgivable loans to small businesses under the Paycheck Protection Program (PPP), which was part of the Coronavirus Aid, Relief, and Economic Stability, or CARES Act. Under the PPP, eligible small businesses have been able Continue Reading
Uncertainty Surrounds Bankruptcy Debtors’ Access to Paycheck Protection Program
Recent bankruptcy court decisions in In re Hidalgo and In re Cosi Inc. indicate that courts are split on whether the U.S. Small Business Administration and participating lenders can deny Paycheck Protection Program loans to businesses that are debtors in a pending bankruptcy Continue Reading
Just What the Doctor Ordered—Remedies for Federal Contractors During the COVID-19 Pandemic and Beyond
A World in Disarray—It is hard to overstate the impact of the COVID-19 pandemic. As we write this article, there are nearly three million documented cases of the virus worldwide, and more than 207,000 people have tragically lost their lives to this disease. In the U.S. alone, there are nearly a Continue Reading
Mid-Sized Businesses May Be Eligible To Participate in the Main Street New Loan Facility and the Main Street Expanded Loan Facility
The Treasury Department and Federal Reserve Board of Governors are leveraging the existing powers of the Federal Reserve under §13(3) of the Federal Reserve Act to provide credit to private enterprises under the “exigent” circumstances created by the COVID-19 pandemic. In addition to the programs Continue Reading
Protecting Supply Chain Data
Advancements in digital freight management, visibility tools, network solutions, and data amalgamation have given the supply chain industry the ability to obtain, share, and analyze shipping and other logistical data with increased ease and speed. These tools and today's more sophisticated digital Continue Reading
Borrowers Beware: GAO Ramps Up Efforts to Root Out Fraud Among CARES Act Loan Recipients
The Prospect of False Claims Act’s Treble Damages Require Meticulous Record Keeping under the CARES Act On April 10, 2020, the Government Accountability Office (GAO) announced its effort to root out fraud associated with the billions of dollars in payments promised under the Coronavirus Aid, Continue Reading
D&O Insurance Coverage and Coronavirus: Avoiding Exclusions
Sometimes an article needs an introduction to put the subject in context for the reader. Sadly, no introduction is needed for the coronavirus. It will have affected everyone who reads this. Some will have suffered physically. A larger group will have been emotionally affected. Except for hospitals Continue Reading
Unpacking FEMA’s Efforts To Secure Needed Medical Supplies
Through its website, the Federal Emergency Management Agency[1] is encouraging the private sector to step up and support the agency in its response to COVID-19 in a variety of ways. In pertinent part, the website solicits donations of medical supplies and equipment, refers businesses with nonmedical Continue Reading
New Jersey Offers Grace Period for Insurance Premium Expenses
On April 9, 2020, New Jersey Governor Phil Murphy issued Executive Order 123, providing immediate relief to policyholders of property and casualty, life, health and dental insurance for nonpayment of premiums due to the COVID-19 pandemic. The Executive Order and the ensuing directives from Continue Reading
Six States Consider Extending Business Interruption Coverage to Coronavirus Claims
Lawmakers in New Jersey, New York, Massachusetts, Ohio, Pennsylvania, and Louisiana have proposed legislation clarifying that property policies’ business interruption coverage extends to losses attributable to the coronavirus pandemic and social distancing. These bills allow policyholders to avoid Continue Reading