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Additional Guidance for Coronavirus-Related Distributions and Loans Under the CARES Act

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

U.S. Supreme Court Rules That Federal Anti-Discrimination Law Protects Gay And Transgender Workers

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

Changes to PPP Loans by the Paycheck Protection Program (PPP) Flexibility Act of 2020

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

Guidance and Relief for Retirement Plans Due to the COVID-19 Pandemic

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

OSHA Addresses Reporting COVID-19 Cases as Job-Related and In-Person Workplace Inspections

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

Applying for Loan Forgiveness under the Paycheck Protection Program (PPP)

Updated June 23, 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

Main Street Lending Programs

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

COVID-19 Lending Resources

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

Emerging on the Other Side of the Coronavirus Pandemic: Raising Structured Capital for Small and Mid-Size Businesses

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

Applying for a Loan under the Paycheck Protection Program (PPP)

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 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

COVID-19 Federal Legislative Response

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

Louisiana and Texas COVID-19 Stay-at-Home Orders and Effects on State Courts

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

COVID-19 as a Force Majeure? The Texas and Louisiana Perspectives

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

SEC Gives Advisers Additional COVID-19 Regulatory Relief

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

Key Issues in OTC Derivatives Contracts as COVID-19 Disrupts Global Financial Markets

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 Can Rely On Federal Forum Provisions for ’33 Act Claims

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

Fifth Circuit Rules “Approximate Physical Presence” is Required for General Personal Jurisdiction

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

Opportunity Zones: Where Are We Now?

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

2019 ABA Private Target Mergers & Acquisitions Deal Points Study

The 2019 Private Target Mergers & Acquisitions Deal Points Study was recently released by the Business Law Section of the American Bar Association.  Copies of the study are available to ABA members on the ABA website, click here. The study is the diligent work of the Market Trends Subcommittee of the Mergers and Acquisitions Committee and … Continue Reading

Louisiana Investment Adviser Update
• Top 10 Advisers in Louisiana
• SEC Issues New Proxy Guidance for Advisers

Top 10 Louisiana Advisers For this edition, I thought that we would look at the top ten SEC registered investment advisers within the State of Louisiana.  The SEC publishes a comprehensive database that captures all information submitted by advisers in their Form ADV’s.  There is a total of 55 advisers registered with the SEC in … Continue Reading

New Final Regulations Expand the Availability of HRAs

On June 13, 2019, the Department of Labor, the Department of Health and Human Services, and the Department of Treasury (the “Departments”), published final regulations which significantly broaden the types of health plans that may be integrated with a health reimbursement arrangement (“HRA”). More specifically, beginning January 2020, the finalized rules allow HRAs to be … Continue Reading

SCOTUS Decides Dutra Group v. Batterton

Today the United States Supreme Court issued its decision in this landmark case concerning punitive damages.  The six justices in the majority opinion reversed the Ninth Circuit and resolved a circuit split on this issue.  The question presented was whether punitive damages may be awarded to a Jones Act seaman in a personal injury suit … Continue Reading
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