The COVID-19 pandemic is affecting municipal borrowers, including state and local governmental entities and conduit borrowers, as unexpected expenses grow and expected revenue declines as a result of stay-at-home and other similar mandates. Issuers and conduit borrowers likely will encounter in the Continue Reading
Investors Beware: Avoid Knee-Jerk Response to Eliminate Investor Protective Provisions Without First Determining If They Negatively Impact PPP Eligibility
As small businesses backed by venture capital or private equity analyze whether they may qualify for the benefits of the SBA Paycheck Protection Program (PPP), we are starting to see “knee-jerk” reactions by many of these small businesses asking or demanding that their investors eliminate key (and Continue Reading
Delaware Offers Relief To Corporations With Already Noticed Annual Stockholder Meetings By Authorizing A Change to Remote Means
On Tuesday, April 6, 2020, in response to the COVID-19 pandemic, Delaware Governor John C. Carney issued a Tenth Modification of his Declaration of State of Emergency (the “Tenth Modification”) that temporarily modified the requirements under the Delaware General Corporation Law (“DGCL”) obligating Continue Reading
NJEDA Program Offering $100,000 Working Capital Loans to Qualified New Jersey Small Businesses
The New Jersey Economic Development Authority (“NJEDA”) has recently announced a series of economic relief packages to help small businesses in the state. Earlier last week, NJEDA launched its Small Business Emergency Assistance Grant Program, which was oversubscribed in a few days. On Continue Reading
Affiliation Rules and the Paycheck Protection Program
The SBA Paycheck Protection Program (PPP) was enacted to provide loans to small businesses to protect and maintain jobs. For those small businesses backed by venture capital or private equity, however, the affiliation rules make it much harder, if not impossible, to obtain the benefits of this Continue Reading
Attention Mid-Sized Businesses: Financial Relief Is Coming for You Too!
Relief for mid-sized businesses covered in Title IV of the CARES Act has been overshadowed by discussions of that provided for small businesses. This alert covers relief available to businesses and non-profit organizations with 500 to 1,000 employees. As a result of the Coronavirus Aid, Relief, Continue Reading
General Services Administration Issues Class-Wide Waiver of Trade Agreements Act and Buy American Act for All GSA Contracts and Schedules for Supplies to Combat the COVID-19 Virus
DOL Regulations Clarify Paid Leave Requirements Under the Families First Coronavirus Response Act
The U.S. Department of Labor (DOL) has now issued temporary regulations providing guidance on the Families First Coronavirus Response Act (FFCRA), which was signed into law on March 18, 2020, and took effect on April 1, 2020, in response to the growing COVID-19 pandemic. The temporary regulations, Continue Reading
Your Small Business May Be Eligible to Participate in the SBA Paycheck Protection Program
We can guide you through the process in which the government will fund your payroll and other operating costs for eight weeks. Under the U.S. Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”), eligible small businesses may borrow up to 250% of their average monthly Continue Reading
After 3rd Circuit Setback, Defense Lawyers Look for New Path for COVID-19 Compassionate Release
The U.S. Court of Appeals for the Third Circuit said in a precedential ruling that Francis Raia is not entitled to modification of his three-month prison sentence because he failed to exhaust administrative remedies before seeking compassionate relief. Christopher Adams weighs in with the New Jersey Continue Reading