New York Business Law and Commercial Litigation Blog

Latest from New York Business Law and Commercial Litigation Blog

We previously blogged about the Paycheck Protection Program (PPP), an extension of the Small Business Administration’s (SBA) 7(a) loan program authorized by the Coronavirus Aid, Relief and Economic Security (CARES) Act. The CARES Act appropriates $349 billion for PPP loans to small businesses affected by the COVID-19 pandemic, relaxes some of the requirements for acquiring such a loan, and provides for forgiveness of PPP loans used for certain purposes. On March 31, 2020, the…
Like most other areas of life, the COVID-19 pandemic is impacting trademark deadlines imposed by the United States Patent and Trademark Office (“PTO” or “Office”).  In recognition of the difficulties affecting entrepreneurs, businesses, individuals, and practitioners, on March 31, 2020, the PTO announced extensions to the time allowed to file patent and trademark-related documents and to pay certain required filing fees.  The PTO is taking action pursuant to the temporary authority provided to it by…
The spread of the novel coronavirus (COVID-19) has wreaked havoc on a multitude of industries.  As we face the uncertainties of this very unprecedented time, governmental agencies are enacting new programs and legislation in an effort to alleviate growing financial concerns. On March 21, 2020, the Treasury Department and Internal Revenue Service announced that the federal tax filing due date has been automatically extended from April 15, 2020 to July 15, 2020.  The benefit of…
The CARES Act consists of 800+ pages of economic relief legislation affecting individuals, businesses, specific industries, and state and local governments. The Coronavirus Response Team at Jaspan Schlesinger LLP has been hard at work analyzing those provisions that are most likely to be of assistance to our clients. A summary for informational purposes only follows below. We recognize that the CARES Act is dense and may be difficult to digest. If you need specific legal…
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act—the largest stimulus package in United States history. Among other things, the legislation provides economic relief to individuals and businesses. Jaspan Schlesinger LLP has launched a multi-disciplinary Coronavirus Response Team to assist our clients in navigating the challenges caused by the COVID-19 pandemic. Among other services, our attorneys will assist clients in interpreting the CARES Act and in pursuing…
With the unprecedented COVID-19 (coronavirus) pandemic devastating cities and states throughout the United States (and the world), and all but bringing the U.S. economy to a screeching halt, business owners are searching for mechanisms to offset the devastating economic impact this virus has wreaked on them. Understandably, many are therefore asking, “Do any of my business insurance policies cover the loss caused by this virus?” The insurance industry is examining this question with equal interest.…
In light of business interruptions caused by COVID-19 and the resulting executive orders issued by Governor Cuomo and President Trump, there is no better time than now to consider and prepare for liability that may arise when the tide turns and business resumes, at least to some degree, throughout the state and the nation. Those able to do so should use this time to take a close look at contracts new and old – as…
The Empire State Development Corporation has issued the following guidance to law firms in New York: Law firms and other providers of legal services are essential businesses only to the extent that their services are currently needed to support the essential functions of health care providers, utilities, state and local governments, the federal government, financial institutions, businesses that have been designated as essential; or to support criminal defendants in court proceedings or individuals in emergency…
This morning, Governor Cuomo announced that non-essential New York businesses must keep 100% of the workforce at home. On Wednesday, the Governor issued Executive Order 202.6 mandating that non-essential businesses keep 50% of the workforce at home as of 8:00 p.m. on March 20, 2020. On Thursday, Governor Cuomo issued Executive Order 202.7, which amended the previous order to require that non-essential businesses keep 75% of the workforce at home as of 8:00 p.m.…
Yesterday, Governor Cuomo signed Executive Order 202.7, which mandates that non-essential businesses and not-for-profits keep 75% of their workforce at home beginning no later than 8:00 p.m. on March 21, 2020. Employers are directed to permit employees to telecommute or work from home to the extent possible. This Executive Order modifies Executive Order 202.6, which was issued by the Governor on March 18, 2020, and required non-essential businesses and not-for-profits to keep 50%…