The Coronavirus Aid, Relief and Economic Security Act (the CARES Act) includes the Paycheck Protection Program, which provides economic relief for small businesses. Davis & Gilbert attorneys Justin Pollak, Lara Cohen and Julie Makowski address what the new program covers and how small businesses can participate. These FAQs provide up-to-date information as of April 28, 2020 on the Paycheck Protection Program, which supplements the information included in our previous alert “Coronavirus Aid, Relief and Economic Security Act: What You Need to Know,” and our related “CARES Act Memorandum.” Read more…
Monthly Archives: April 2020
April 28, 2020 — On April 16th, Prime Minister Trudeau announced a new measure to support small businesses struggling to pay their monthly rent. The Canada Emergency Commercial Rent Assistance (CECRA) program will be a partnership between the Federal and Provincial Governments to offer forgivable loans to commercial property owners, who can then pass these resources onto their small business tenants for the months of April (retroactively), May, and June.
Managing Intellectual Property released its 2020/2021 Managing IP – IP Stars Guide naming Arthur G. (“Chip”) Connolly III as an IP Star for Delaware. The IP Stars list is based on market feedback and independent research conducted by the IP Stars research team including 1,850 firms and 5,700 practitioners. The IP Stars awards recognize outstanding achievements by law firms, partners and in-house counsel in the past year. Congratulations Chip!
For more information about Managing IP – IP Stars visit their website here.
On the evening of Friday April 24, 2020, the Ontario government expanded the scope of its emergency orders to now address various issues relating to condominium owner and board meetings. The orders are retroactive to March 17, 2020 and will apply, unless amended further, for the duration of the emergency order. Read the full article.
CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE: RELIEF IS ON THE WAY, BUT THE DEVIL MAY BE IN THE DETAILS
Canadian individuals and businesses in all industries are experiencing financial hardships as a result of the 2019 novel coronavirus disease (“COVID-19“). Those in the commercial real estate business are no exception, as landlords, tenants, real estate developers, and property managers are all attempting to navigate the pandemic’s effects. While tenants attempt to negotiate relief from their lease obligations, landlords are concerned with the absence of relief from mortgage or realty tax payments, creating a clear tug-of-war between these parties during an increasingly difficult time. Read the full article.
UPDATE ON VIRTUAL WITNESSING OF WILLS AND POWERS OF ATTORNEY: SIGNING IN COUNTERPARTS NOW TEMPORARILY PERMITTED IN ONTARIO
As discussed in our last article, on April 7, 2020 The Lieutenant Governor in Council made an order under s.7.0.2(4) of the Emergency Management and Civil Protection Act (the “Order“), to temporarily permit virtual execution of Wills and Powers of Attorney through audio-visual communication technology during the COVID-19 emergency. Read the full article.
On April 24, the President signed into law The Paycheck Protection Program and Health Care Enhancement Act, which appropriates approximately $484 billion in funding for coronavirus relief. The Enhancement Act amends the CARES Act and includes:
- $321 billion to fund the Paycheck Protection Program (PPP);
- $60 billion reserved for the Emergency Economic Injury and Disaster Loan (EIDL) Program;
- $100 billion to fund a Public Health and Social Services Emergency Fund; and
- $2.1 billion for certain Small Business Association (SBA) salaries and expenses.
This alert outlines amendments to the PPP and EIDL programs, and provides guidance for PPP loan forgiveness.
Robert Kennedy, partner offers some practical guidance about likely employers’ liability claims that may stem from the coronavirus and highlight the key elements of such a claim, including employers duties, risk assessments and causation.
On April 21, 2020, the Food and Drug Administration announced its approval of the first at-home COVID-19 test pursuant to its Emergency Use Authorization authority.
Considering widespread business closures, Michael Murphy takes an in-depth look at the impact of COVID-19 on business interruption insurance with a focus upon the following specific issues:
- Why this is such a key issue for insurers and policyholders?
- Are you entitled to claim for your business interruption losses?
- How do insurers reach their determinations on such claims?
- What do you do if you disagree with the insurer’s determination?
- Can insurers be forced to pay out for these business interruption losses?
- What is going to happen on these issues going forward?