The U.S. Congress has passed a series of laws for easing the economic suffering due to COVID-19, including the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The CARES Act and other relief bills have appropriated about $3
The US Federal Reserve has confirmed in its Main Street Loans frequently-asked-questions-faqs about the Main Street lending program (the “FAQ”) that US subsidiaries of foreign companies can be eligible borrowers under the various loans available under the program so long
New York Partner Valérie Demont and Associate Karl Buhler authored an article about the CARES Act and its benefits and pitfalls for French companies doing business in the United States, which was published in the French leading legal review “Les
On April 14, 2020, the Sheppard Mullin French desk hosted a webinar on the impact of COVID-19 on various business sectors. The webinar was organized as a roundtable discussion with two business leaders, Christopher Mars, the U.S. COO of Marie
A main focus for businesses in need of capital recently has been the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which expanded the criteria under which borrowers could apply for loans through the U.S. Small Business Administration (SBA), notably
The Small Business Administration (“SBA”) in its implementation of the CARES Act just released an updated loan application form for borrowers who want to avail themselves of Title I – Paycheck Protection Program (“PPP”) loans. This form may be found
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted, an economic relief package in response to the COVID-19 pandemic. The CARES Act provides economic support at the federal level to the business sector, employees,
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act” to provide nearly 2 trillion dollars in aid and relief to individuals, businesses, and other entities in the wake
The unique EU State aid control law requires, in principle, prior notification by Member States and approval by the Commission of all State aid. During a time of crisis, like the COVID-19 pandemic, EU law allows for a flexible approach
As part of the federal government’s efforts to soften the economic effects from the Covid-19 pandemic, on Wednesday the IRS issued Notice 2020-17 announcing that federal income tax payments for the 2019 tax year otherwise due on April 15th may be
