BW INSIGHTS

2020 Legislative Session - Week 10

By BrownWinick | 06.05.2020
Lawmakers returned to the Capitol Wednesday following an 11-week suspension due to the COVID-19 pandemic. Since they paused activity days prior to the second funnel deadline, most bills that did not pass the House or Senate, plus committee in the other chamber by the end of the day on Friday, June 5 are “dead” for the remainder of session. Tax,... Read More

DOL Issues Final Rule On Retail or Service Establishment Commissioned Sales Exemption

By BrownWinick | 05.28.2020
The United States Department of Labor issued a final rule to simplify application of the commissioned sales exemption from the Fair Labor Standards Act (“FLSA”). Under that exemption, an employee may be treated as exempt from the FLSA overtime requirement if: (1) the employee works in a “retail or service” establishment, (2) earns a regular rate... Read More

Coronavirus Food Assistance Program – CFAP

By BrownWinick | 05.22.2020
The United States Department of Agriculture (“USDA”) announced very high-level details regarding the Coronavirus Food Assistance Program (“CFAP”) on April 17, 2020. The CFAP is designed to provide money directly to crop and livestock producers to solidify the food chain during COVID-19. Finally, one month after the initial release, the USDA has... Read More

PPP Portal Opens to Small Lenders Only for 8 Hours

By BrownWinick | 04.29.2020
On Wednesday, April 29, the U.S. Treasury and Small Business Administration (“SBA”) announced that for eight hours, big banks will be prevented from accessing the Paycheck Protection Program (“PPP”) portal. During this time, small lenders will have exclusive access to submitting applications for PPP loans. A lender with under $1 billion in assets... Read More

Making a big change to your business? We can help.

By BrownWinick | 04.21.2020
COVID-19 has drastically altered market demands and in response, some companies are temporarily changing their business models to manufacture products that are desperately needed. We have ethanol plants manufacturing hand sanitizer, clothing companies making surgical gowns, and plastic molding companies making face shields. One hurdle to making... Read More

Negotiating M&A Deal Terms During the COVID-19 Outbreak

By BrownWinick | 04.13.2020
If you are in the process of negotiating the purchase or sale of a company’s assets, a large ownership stake in a company or some other merger or acquisition (“M&A”) transaction for a business, consider if and how COVID-19 could impact the terms of your deal, including those listed below. 1 - Purchase Price: Before signing up a deal, the parties... Read More

Material Adverse Effect Clauses and COVID-19

By BrownWinick | 03.29.2020
Material Adverse Effect (“MAE”) clauses are frequently found in merger and acquisition (“M&A”) agreements. Most typically, MAE clauses are incorporated as a closing condition that permits a buyer to terminate the agreement if the seller has had an MAE between the signing of the agreement and the closing of the transaction. In general, the... Read More

Discussing Layoffs or Other Cost-Saving Measures? Hit the Pause Button.

By BrownWinick | 03.26.2020
As the COVID-19 pandemic continues to evolve, employers everywhere are being forced to consider layoffs, furloughs, and other alternatives. However, if your business finds itself in a similar situation, you might consider hitting the pause button. Late Wednesday evening, the Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES)... Read More

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