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
Potential Impacts of Affiliate Rules on Access to SBA’s PPP
Information regarding the affiliate rules that can impact access to the Small Business Administration (SBA) Paycheck Protection Program (PPP) under the CARES Act for our venture capital-backed clients is complex. Although more formal guidance will be forthcoming, we wanted to share our current Continue Reading
Additional Guidance on SBA’s Paycheck Protection Program
The $349 billion Payment Protection Program (PPP) established by Title I of the Coronavirus Aid, Relief, and Economic Stability Act (CARES Act) is intended to help small businesses sustain themselves and keep their workers employed. Under the program, eligible small businesses may borrow 2.5 times Continue Reading
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
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