Posted
by

New Small Business Administration (SBA) guidance implementing the Paycheck Protection Program (PPP) confirms that a somewhat narrower set of affiliation principles now applies to SBA loan programs, including the PPP. In “COVID-19 Relief: SBA Issues Regulations & Guidance on the Payroll Protection Program,” colleagues David B. Dixon, John E. Jensen and Steven A. Kaplan discuss how the SBA issued interim regulations and guidance on the Paycheck Protection Program, including confirmation of “affiliation” rules that may leave many companies affiliated with their investors and other businesses.

 

Posted
by

The coronavirus pandemic is resulting in a wave of forbearances and workouts. A frequent first step is the pre-negotiation agreement. In “Distressed Real Estate During the Pandemic: The Importance of Pre-Negotiation Agreements for Borrowers and Lenders,” colleague Caroline A. Harcourt addresses that a good PNA should be quickly negotiated but carefully considered, getting both parties to substantive negotiations quickly. A PNA should not alter the status quo. Instead, it should ensure that the parties can share information and freely discuss terms.

Posted
by

On April 8, New Jersey Governor Phil Murphy signed Executive Order 122 which, among other things, halted nonessential construction in New Jersey effective Friday, April 10 at 8:00 pm. Essential construction may continue, which includes health care and pharmaceutical manufacturing facilities, transportation and infrastructure projects, pre-k to 12th grade and higher education facilities, utility projects and affordable housing. There are also several other exceptions for facilities that manufacture and distribute goods and products sold online, projects supporting first responders, government projects, emergency work and work required for safety reasons, and smaller residential projects. 

Governor Murphy’s Order also sets forth requirements for safety on essential construction projects that must be followed, including limiting meetings, distancing rules, following CDC guidelines, staggered lunch times and breaks, and required face coverings. For a complete list of what is considered essential and what non-essential work is excepted, as well as the rules for essential projects, Executive Order 122 can be seen here. For more information on what you can do if your project is affected, see So the Government Shut Down Your Construction Project—What Next?

Posted
by

In January, the EU launched itself into the new decade with the unveiling of its Green Deal: an extensive plan of ambitious climate targets and reforms culminating in a carbon neutral Europe by 2050. There have been debates about the details of the plan particularly among the developers of carbon neutral technologies excluded from the plan. However, the emergence of the coronavirus pandemic is threatening to derail the EU’s aspiring climate change project before it’s even begun.

Continue Reading ›

Posted
by

By executive order, Georgia Governor Kemp issued a statewide 10-day shelter-in-place order, from April 3, 2020, to April 13, 2020. In “Georgia Orders Residents and Visitors to Shelter in Place,” colleagues Amanda G. Halter, Robert A. James and Nicole Steinberg discuss address that other than “critical infrastructure,” other businesses are limited to “minimum basic operations” and restrictions to contain the virus.

Posted
by

Please join us today, April 8, 2020, for an Industry Insights webinar series designed to help clients spot issues, mitigate risk and navigate challenges specific to their industry.

During this webinar Anna Graves, Carrie Bonnington and Paula Weber will discuss the restaurant, food & beverage industry with a focus on helping restaurant owners, operators and investors, as well as vendors and suppliers, address business issues relating to the COVID-19 (Coronavirus) pandemic.

This 45-minute conversation will cover:

  • Employment Decisions and Issues
  • Families First Coronavirus Response Act
  • CARES Act Stimulus Bill
  • Alcohol Beverage Law Temporary Relief
  • Q&A

REGISTER NOW

Posted
by

Although the majority of states across the country have issued statewide Shelter-in-Place or Stay-Home orders, Texas has demurred, initially altogether, deferring to counties and cities to use their own executive authorities as they deemed necessary, and then coming along in substance while eschewing the “stay-home order” characterization. In “Texas: State and Local COVID-19 Social Distancing Measures,” colleagues Amanda G. Halter, Julie M. Moeller and Laura E. Jennings how Texas is aiming to protect public health within a large and diverse geography and an independent-minded culture by implementing an evolving patchwork of state and local social distancing orders.

 

Posted
by

Following declarations of emergency and actions in the counties surrounding Birmingham, the Alabama State Health Officer determined that further social distancing measures are necessary on a statewide basis to prevent the spread of COVID-19. In “Alabama Issues Statewide Stay-at-Home Order,” colleagues Robert A. James, Amanda G. Halter discuss how the The April 3 State Health Officer order combines the state’s definition of essential activities with the federal definition of essential workforce.

Posted
by

The CARES Act provides $350 billion for small business Paycheck Protection Loans and an additional $10 billion for the existing Economic Injury Disaster Loan program. Colleague David Miller describes the new Paycheck Protection Loan Program and the existing Economic Injury Disaster Loan Program below. These are complex programs, with regulations still being developed by the Small Business Administration.

Continue Reading ›

Posted
by

Please join us today, April 7, 2020, at Noon ET / 9:00am PT for an Industry Insights webinar series designed to help clients spot issues, mitigate risk and navigate challenges specific to their industry.

During this webinar Christian Salaman, David Klein and Paul Shapses will discuss the hotel and hospitality industry with a focus on helping hotel owners and operators, and developers and lenders address ongoing developments pertaining to the COVID-19 (Coronavirus) pandemic.

This 45-minute conversation will cover:

  • Short- and long-term approaches to consider for dealing with low occupancy and declining operating revenue
  • Financial issues specific to industry loans
  • Insurance coverage in the context of the hotel & hospitality industry
  • Insurance-related litigation outlook
  • Q&A

REGISTER NOW