Month: November 2020
Streamlined Loan Forgiveness Process for PPP Loans Under $50,000
As of October 8, 2020, loan recipients under the Paycheck Protection Program (“PPP”) have a new, streamlined application form for requesting loan forgiveness. The new loan forgiveness form, SBA Form 3508S, may be used by businesses that received a loan totaling less than $50,000 or, together with its affiliates, received PPP loans totaling less than
Major Boon for Insureds Seeking COVID-19 Business Interruption Coverage
Recent cases involving insurance companies against insured businesses seeking COVID-19 business interruption coverage could be of great importance due to the decisions’ focus on the impact of the virus as well as the expectations of a reasonable insured. A Missouri Court in Blue Springs Dental Care v. Owners Ins. Co. examined the “direct physical loss
Business Liability for Family Members of Workers who Contract COVID-19
The COVID-19 pandemic has raised many new questions in employment law. One emerging question is the liability of a business when a worker who was infected while on the job, passes the COVID-19 infection to his or her family member(s). This issue has yet to be addressed by most courts, however a recent Kane County,
SEC Changes Definition of Accredited Investor
On August 26, 2020 the Securities and Exchange Commission (“SEC”) adopted amendments to the “accredited investor” definition, which is a principal test used to determine who is eligible to participate in the US private capital markets. These amendments revise Rule 501(a), Rule 215, and Rule 144A of the Securities Act of 1933. These new amendments