Jaspan Schlesinger LLP

LIBOR (the London Inter-bank Offered Rate) is an interest rate benchmark published by ICE Benchmark Administration Limited that is used as a reference rate for a wide range of financial transactions. It is a common floating rate interest option for corporate borrowers, who may pay interest on loans based on LIBOR (usually with a margin in excess of LIBOR). LIBOR has dropped dramatically since the start of the COVID-19 pandemic. For example, one month LIBOR…
Jaspan Schlesinger LLP partner Robert Londin will moderate the fourth episode of a five-part webinar series dedicated to private Mergers and Acquisitions transactions.  The series spans from early transaction concerns and planning to key provisions of transaction documents, and Rob serves as moderator for the entire series.   “On to the next; we recently concluded episode number three which addressed the general M &A process.  Episode number four tackles deal points arising in connection with post-closing…
With Election Day rapidly approaching, New Yorkers are already making voting plans with an eye towards the long lines that await them at their local polling place.   To best ensure that they will be able to cast an in-person ballot on November 3rd — in what is being touted as the most important election of our lifetime (Newsflash: this same declaration is made every four years) –many voters will have to juggle work schedules, family…
On October 2, 2020, the Small Business Administration (SBA) issued a long awaited Procedural Notice providing guidance with respect to a change of ownership of businesses that borrowed Paycheck Protection Program (PPP) loans. PPP loans were made commencing in early April, and since then we have witnessed first-hand the frustration experienced by business owners having to deal with the uncertainty of the treatment of PPP loans in the context of a change of ownership (often…
New York City Mayor Bill DeBlasio has signed legislation extending the effective period of certain legal protections designed to support the City’s businesses and their employees during the pandemic. The first bill extends and expands the City’s paid safe and sick leave law to reach more workers. The other two bills extend protections for commercial tenants and hotel workers. Paid Safe and Sick Leave Effective September 30, 2020, Intro. 2032-A amends the City’s administrative code…