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COVID-19 Updates: CARES Act | Bankruptcy Issues
CARES Act Provisions Affecting Bankruptcy And Residential Mortgage Loans The Coronavirus Aid, Relief and Economic Security Act (“CARES”) enacted on March 27, 2020 contains a number of provisions affecting bankruptcy cases, modification and enforcement of federally backed residential mortgage loans, and evictions. CARES Bankruptcy Provisions Increase debt limit for eligibility to file for Chapter 11…
Read MoreCOVID-19 Updates: People First Initiative
Internal Revenue Service Announces “People First Initiative” in the Wake of COVID-19 Initiative Temporarily Suspends Many Payment Requirements and Enforcement Actions Earlier this week, the Internal Revenue Service (“the Service”) unveiled its new People First Initiative (“the Initiative”), an effort by the Service to stem some of the financial issues caused to Americans as a…
Read MoreCOVID-19 Updates: MD Small Business Loans Fund
Fast Facts – Loans from the Maryland Department of Commerce On March 23, 2020, Governor Larry Hogan announced that the Maryland Department of Commerce will offer up to $75 million in loans to small businesses through the Maryland Small Business COVID-19 Emergency Relief Fund. Below are some fast facts businesses need to know about how…
Read MoreCOVID-19 Updates: MAC Clauses
Invoking MAC Clauses During the Pandemic Although Material Adverse Change (“MAC”) clauses are quite prevalent in loan and financing documents, there is very little case law in Maryland dealing with the successful or unsuccessful enforcement of these clauses. With the current COVID-19 pandemic, we will likely see more lenders invoking a MAC clause to deny…
Read MoreCOVID-19 Updates: MD Small Business Grants Fund
Fast Facts – Grants from the Maryland Department of Commerce On March 23, 2020, Governor Larry Hogan announced that the Maryland Department of Commerce will offer up to $50 million in grants to small businesses and nonprofits through the Maryland Small Business COVID-19 Emergency Relief Fund. Below are some fast facts businesses and nonprofits need…
Read MoreCOVID-19 Updates: Landlord/Tenant Issues
How Does the Pandemic Alter Your Lease Obligations? Given the current circumstances arising from the COVID-19 pandemic and associated government-ordered closures, landlords and tenants both must analyze how their leases and the obligations thereunder are impacted. The answers may change depending on the span of the pandemic and additional governmental restrictions. In either instance, one…
Read MoreCOVID-19 Updates: Small Business Loans
Small Business Loans Available in Response to COVID-19 The novel coronavirus (“COVID-19”) is here. While everyone is glued to their cell phones and smart TVs waiting to hear about the latest infection rates, governmental announcements, and death tolls, many small business owners are increasingly concerned about the toll that forced closures will have on their…
Read MoreCOVID-19 Updates: Employment Law Q&A
Q&A: Employment Issues During the COVID-19 Pandemic As a business owner, you have many considerations that affect your employees and the safety of your operations during the COVID-19 pandemic. We anticipated some of the issues that may be of particular importance to you right now, and hope to offer value in answering them, given the…
Read MoreCOVID-19 Updates: FMLA Expansion Act
Fast Facts about the Emergency Family and Medical Leave Expansion Act (EFMLA) Provisions of the Family First Coronavirus Response Act On March 18, 2020, the FFCRA was enacted. Below are some fast facts employers need to know regarding how the FFCRA has modified the Family Medical Leave Act (FMLA). Employers affected: Employers with less than…
Read MoreCOVID-19 Updates: Emergency Paid Sick Leave
Fast Facts About the Emergency Paid Sick Leave Act (EPSLA) of the Family First Coronavirus Response Act (FFCRA) On March 18, 2020, the FFCRA was enacted which includes important changes affecting employee leave. Here are some fast facts employers need to know regarding the Paid Sick Leave provisions. Employers affected: For private employers, those…
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