BW INSIGHTS

Federal Bank Regulators Issue New Guidance on Paycheck Protection Program Facility

By Ellen Hames | 04.10.2020
Type of Action: Interim Final Rule Issued By: Department of Treasury Office of Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Board”), and the Federal Deposit Insurance Corporation (“FDIC”). Date issued: April 9, 2020 To provide a bit of background – on April 7, 2020 the Board authorized Federal Reserve... Read More

Is Your Business at Risk for Coronavirus Lawsuits, and What Can You Do NOW To Avoid It?

By Michael Dee | 04.06.2020
Whether you are a small business, large business or even a government entity, are you ready (or preparing your business) for the onslaught of lawsuits resulting from the pandemic? Google “coronavirus lawsuits” — over 300 billion hits. Unfortunately, a number of those hits are plaintiffs’ class action law firms asking people to submit information... Read More

Interim Final Rule Issued for Paycheck Protection Program April 3, 2020

By Ellen Hames | 04.03.2020
On April 3, 2020, the U.S. Small Business Administration issued an Interim Final Rule regarding the Paycheck Protection Program, accessible here: https://content.sba.gov/sites/default/files/2020-04/PPP--IFRN%20FINAL.pdf (the “Rules”). These Rules implement the Paycheck Protection Program sections (sections 1102 and 1106) of the Coronavirus Aid,... Read More

Leading Through Chaos

By Brian McCormac | 04.02.2020
I recently had the pleasure of participating in a panel discussion on “Leading through Chaos” with Dawn Buzynski of Strategic America and Vince Newendorp of Vermeer. Little did any of us know that about two weeks later the stock market would crater, a global pandemic would cause most of the nation to be placed on lock-down, and vast business... Read More

Small Business Exemption to FFCRA

By Danielle Smid | 03.31.2020
The Families First Coronavirus Response Act (FFCRA) contains a potential exemption for certain small employers who cannot afford to provide the childcare-related paid leave requirements under the FFCRA. Although we are still waiting on the official regulations to be issued by the DOL, there has been additional guidance issued by the DOL in the... Read More

Do You Have Insurance for Lost Business Due to COVID-19?

By Ellen Hames | 03.31.2020
Unless you are extraordinarily fortunate, your business will surely see a drop in revenue due to the economic slowdown caused by the virus. Do you have insurance coverage for this? Past world events such as the Ebola outbreak, 9/11 and hurricanes can provide some guidance. Rest assured, however, that insurance companies will be inundated with... 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

Shareholder Meetings Amidst COVID-19

By Ellen Hames | 03.27.2020
UPDATE: On March 31, 2020, Iowa Governor Kim Reynolds issued a proclamation allowing physical meetings of shareholders, policyholders, members, etc. to be held by means of remote communication to the extent that the attendees are provided a reasonable opportunity to participate, communicate, read or hear the proceedings, and vote on matters... 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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