Latest Resources available to NJ Acute and Sub-Acute Care Providers to mitigate the effects of the COVID-19 pandemic
New Jersey hospitals, sub-acute care facilities and physician groups are beginning to feel the financial effects as they shift operations from elective and other more profitable procedures to focus on services to address the spreading coronavirus pandemic. Legislators and government officials at the Continue Reading
NY Order May Limit Foreclosures, But Could Hurt Local Banks
On March 21, New York Gov. Andrew Cuomo issued Executive Order No. 202.9 temporarily modifying state banking law to grant the superintendent of the New York Department of Financial Services authority to issue emergency regulations to ensure that regulated entities — such as banks or registered Continue Reading
Revisions to New Jersey Statute Permit Virtual Shareholders’ Meetings in COVID-19 Times
On March 20, 2020, Governor Phil Murphy signed into law a bill to amend the New Jersey Business Corporation Act to permit New Jersey corporations to hold shareholders’ meetings solely by means of remote participation (i.e., a virtual-only shareholders’ meeting) if a state of emergency is in effect Continue Reading
Residential Mortgage Servicing Industry May Feel Brunt of Foreclosure Moratorium, New Forbearance Rights
With new relief provisions put in place by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) for homeowners and tenants facing payment defaults in coming months, mortgage servicers may feel the impact of these provisions. The CARES Act, a $2 trillion stimulus relief package passed Continue Reading
Salzburg, et. al. v. Sciabacucchi – Delaware Supreme Court Finds Charter Provisions Requiring Federal Court Forum for Federal Securities Claims are Facially Valid
In a highly anticipated decision issued March 18, 2020, the Delaware Supreme Court reversed the Court of Chancery on a matter of first impression by holding that provisions in corporate charters designating federal courts as the exclusive forum (Federal-Forum Provisions) to resolve claims brought Continue Reading
Paycheck Protection Program (PPP) Application Form Made Available by Treasury Department
On March 31, 2020, the U.S. Small Business Administration (SBA) released the Paycheck Protection Program Application Form for use with the SBA Paycheck Protection Program (PPP) loans. Applications for PPP loans may be submitted to an existing SBA lender as early as April 3, 2020. Existing Continue Reading
US Supply Chain and Transportation Stakeholders Receive Several Provisions from the CARES Act
Since its passage last week, the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the Act) has produced endless summaries and analyses of its text, most notably in regard to the increased access to Small Business Administration loans and what some are calling the “bailout” provisions for Continue Reading
Interagency Guidance on Loan Modifications by Financial Institutions for Customers Affected by COVID-19
Recognizing the massive disruption to the U.S. economy and the American people created by COVID-19, federal banking regulators, consisting of the FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the National Credit Union Administration, together with the Consumer Continue Reading
CARES Act Implements Changes to the Tax Code; Provides Economic Relief in the War against COVID-19
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act is a $2 trillion economic aid package, which makes numerous changes to the federal tax laws to provide some relief to individuals and business as a result of the impact of Continue Reading