The long-awaited proposed changes to the Department of Interior’s Financial Assurance Rule (“Proposed Rule”) were finally announced yesterday by the Trump Administration. The announcement provides, among other things, that the proposed rulemaking is in efforts to clarify, streamline and provide greater transparency to the financial assurance requirements (e.g., supplemental bonding) for OCS lessees and grant … Continue Reading
Commercial Lease Considerations in the Wake of Hurricane Laura Following disasters such as Hurricane Laura, business owners have a variety of concerns when beginning the recovery process. Chief among those concerns: what to do when your place of business has been damaged or destroyed? If you lease your place of business, or if you lease … Continue Reading
Yesterday the U.S. Securities and Exchange Commission adopted final rules that amend the definitions of “accredited investor” and “qualified institutional buyer” which are central to classifying investors that may participate in private offerings and investments under federal securities laws. A company wishing to offer or sell securities to the public must register those securities with … Continue Reading
On July 15, 2020, the Unites States Customs and Border Protection (“CBP”) issued a ruling (HQ H309672) in connection with the installation of an offshore wind farm located off the coast of Rhode Island and Massachusetts in U.S. territorial waters (the “July 15 Ruling”). CBP determined that activities to be conducted in connection with the … Continue Reading
On June 19, 2020, the Internal Revenue Service (the “IRS”) issued Notice 2020-50 which expands the categories of individuals eligible for coronavirus-related distributions (“CRDs”), loans, and loan repayment suspensions as well as resolves some of the issues that were concerning plan administrators and employers under the CARES Act. Under Section 2202 of the CARES Act, … Continue Reading
On June 15, 2020, the United States Supreme Court ruled that Title VII of the Civil Rights Act of 1964 (“Title VII”) – which bans employment discrimination on the basis of race, color, religion, national origin, and sex – prohibits discrimination based on sexual orientation and transgender status. This decision marks a pivotal change from prior … Continue Reading
Updated July 8, 2020 On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which established, in relevant part, the Paycheck Protection Program (PPP), a loan program that offers eligible borrowers the potential for loan forgiveness. For more information on the PPP … Continue Reading
The Department of Labor (the “DOL”), the Treasury Department (the “Treasury”), and the Internal Revenue Service (the “IRS”) have recently issued guidance extending certain deadlines and providing certain relief for retirement plans in response to the current COVID-19 pandemic. Discussed below are (1) EBSA Disaster Relief Notice 2020-01, (2) DOL “COVID-19 FAQs for Participants and … Continue Reading
On May 19, 2020, the Occupational Safety and Health Administration (“OSHA”) issued two noteworthy enforcement memos. The first memo announced the reversal of OSHA’s April 10, 2020 policy that limited the requirement to track on-the-job cases of COVID-19 to health-care facilities, emergency response providers, and corrections facilities. The new policy, which goes into effect on May 26, … Continue Reading
Updated August 31, 2020 On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which established, in relevant part, the Paycheck Protection Program (PPP), a loan program that offers eligible borrowers the potential for loan forgiveness. For more information on the PPP … Continue Reading
The Equal Employment Opportunity Commission (EEOC) has authorized employers to test employees for the COVID-19 virus before permitting them to enter the workplace.… Continue Reading
In addition to the SBA’s Payment Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), on April 9, 2020, the Federal Reserve announced that it was going to provide up to $2.3 trillion in loans to support the economy through various programs, including the Main Street Lending Program (“MSLP”). The MSLP will support credit flow … Continue Reading
Liskow & Lewis is committed to serving its clients as they adapt to the unprecedented economic consequences of the ongoing COVID-19 pandemic. As part of this commitment, the firm has created a COVID-19 Lending Resource page for the lending programs established by the CARES Act, which provides economic relief for small and medium firms, including … Continue Reading
Background The Coronavirus Pandemic has wreaked havoc on small and mid-sized businesses (“SMBs”) throughout Texas and the rest of our country. Many SMBs have had to close their doors due to mandatory stay-at-home orders and other social distancing orders and requirements. The CARES Act and other recent legislation passed by Congress and signed into law … Continue Reading
Updated August 31, 2020 On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which provides for various economic stimulus measures, including a new loan program regulated by the U.S. Small Business Administration (SBA) called the Paycheck Protection Program (PPP). You can … Continue Reading
On Friday, March 27, 2020, President Trump signed into law the CARES Act, which contains many provisions designed to mitigate the impact of the Coronavirus pandemic. Liskow & Lewis attorneys John T. Bradford and Jeffrey P. Birdsong wrote about four of those provisions which affected the implementation of the 2017 Tax Cuts and Jobs Act … Continue Reading
Day-to-day life has been dramatically impacted by the coronavirus disease 2019 (COVID-19), and many businesses have been forced to close or limit their service to slow the spread of COVID-19. In response, Congress has passed several pieces of legislation to assist individuals and businesses affected by the virus.… Continue Reading
This article was updated on April 14, 2020. Day-to-day life has been dramatically impacted by the coronavirus disease 2019 (COVID-19), and many courts in Louisiana and Texas have been forced to close or limit operations in conjunction with stay-at-home orders. A brief discussion of how COVID-19 has affected Louisiana and Texas courts is discussed here.… Continue Reading
Today, countries worldwide are responding to a pandemic of respiratory disease spreading from person-to-person caused by a novel coronavirus. The disease has been named “coronavirus disease 2019” (abbreviated “COVID-19”). The pandemic poses a serious public health risk, and government response has included closure of schools and businesses, declarations of emergency, and issuance of a variety … Continue Reading
The SEC announced on March 25, 2020 additional regulatory relief for investment advisers impacted by the Coronavirus. The SEC extended relief from May 15 until June 30, 2020 for filing an amendment to Form ADV Part 1A and the Brochure (ADV Part 2A) and related delivery obligations. https://www.sec.gov/rules/other/2020/ia-5469.pdf. The annual amendments for ADV are normally … Continue Reading
It has been an extraordinary few weeks as businesses face challenges presented by the COVID-19 outbreak. Companies are grappling with a multitude of issues — from the health and safety of employees to increased cyber security risks to financial and operational stability. Understandably, assessments of significant contractual and market exposures have been prioritized. Potential exposures … Continue Reading
Delaware corporations routinely include “exclusive federal forum” provisions in their charters and bylaws to designate federal courts as the exclusive forum for litigating claims under the Securities Act of 1933 (the “’33 Act”). Corporations generally prefer to litigate these claims in federal court as state court is viewed as inefficient and more inclined to grant … Continue Reading
Can targeted advertising establish general jurisdiction over a foreign corporation? The Fifth Circuit had not addressed this issue until Frank v. P N K (Lake Charles) L.L.C., No. 18-31060, 2020 WL 288213 (5th Cir. Jan. 21, 2020). But in so doing, the court may have announced a new jurisdictional test with significant ramifications for future … Continue Reading
Through the Tax Cuts and Jobs Act (“TCJA”), in 2017 Congress enacted Code Sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code (the “Code”). These Code Sections were designed to encourage investment and economic growth in certain-low income communities by creating a procedure for identifying Qualified Opportunity Zones (“QOZs”) and offering certain federal income tax … Continue Reading
