On April 6th, the Small Business Administration (“SBA”), in consultation with the Treasury Department, released Frequently Asked Questions (“FAQs”) designed to address borrower and lender questions around the implementation of the Paycheck Protection Program (the “PPP”) under the CARES Act.
Corporate Law
The Cole Schotz P.C. blog covers a range of corporate law topics including corporate transactions, bankruptcy and corporate restructuring, securities regulation, and digital assets such as cryptocurrencies and NFTs. It discusses regulatory compliance issues involving the SEC, CFTC, and IRS, as well as legal considerations for digital asset investments, initial coin offerings, and cryptocurrency payments. The blog also addresses real estate finance, litigation, employment, and intellectual property matters within the corporate context. It provides updates on legal developments affecting various industries and offers insights into the intersection of corporate law with emerging technologies and financial instruments.
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SBA Issues Additional Guidance on Affiliation Rules
In connection with the relief being offered to small businesses as a result of the impact of COVID-19, the CARES Act has modified certain provisions of the Small Business Administration’s (“SBA”) size and affiliation regulations to expand accessibility to qualified…
SBA Issues Guidance Regarding Implementation of the Paycheck Protection Program
The Small Business Administration (“SBA”) has released Interim Final Rules (“Rules”) regarding implementation of the Paycheck Protection Program (“PPP”) under the CARES Act. These Rules are intended to provide guidance to both borrowers and lenders in interpreting the provisions of…
Florida Governor Issues Additional Executive Orders in Response to COVID-19 After Issuing Statewide Stay-At-Home Order
On April 1 and 2, 2020, and after Florida Governor Ron DeSantis issued Executive Order 20-91, a statewide stay-at-home order, the governor issued three additional executive orders to address the COVID-19 pandemic. Executive Order 20-92, signed on April 1, 2020,…
Florida Governor Issues Multiple Executive Orders in Response to COVID-19
With coronavirus cases continuing to rise in Florida—and not merely in what was considered the epicenter in south Florida—Governor Ron DeSantis has issued a number of executive orders to address the crisis and hopefully flatten the curve with respect to…
CARES Act – Guidance on Paycheck Protection Program
On March 31, 2020, the Department of Treasury released preliminary guidelines (“Guidelines”) for prospective participants in the Paycheck Protection Program (“PPP”), a cornerstone of the newly enacted CARES Act. Per the publicly released Information Sheet, small businesses and sole…
Business Interruption Insurance: The Ongoing Case for Coverage
Since COVID-19 swept through the country, numerous articles have commented on the lack of business interruption insurance in commercial property policies based on two key standard policy provisions – (i) the loss of net income caused by “direct physical loss…
COVID-19 Alert – New York Essential Business Guide
As the COVID-19 pandemic evolves, Governor Andrew Cuomo continues to reinforce his initial mandate limiting in-person business operations solely to Essential Businesses throughout the State. In an effort to facilitate the uninterrupted business operations of our clients and contacts, we…
COVID-19–Status of New Jersey Business Operations as of March 30, 2020
Pursuant to a series of Executive Orders issued by Governor Phil Murphy in response to the COVID-19 pandemic (together with related guidance and orders issued by the Office of Emergency Management), certain businesses must cease operations while others may maintain…
NY Issues Prohibitions on All Gathering of Non-Essential Individuals and Closes Large Indoor Malls
New York City heightened restrictions on public activity in Executive Order No. 103, issued March 25, 2020.
The Order requires closure of all common portions of retail malls that have 100,000 square feet or more of retail space (leased or available). …