April 2020

Overview of the DOL Guidance and Regulations on the FFCRA

The Department of Labor Wage and Hour Division (“Department”) published a Q&A document on the implementation of the Families First Coronavirus Response Act (FFCRA). Through its guidance documents, the Department is providing compliance assistance t…

Non-Liquidating Receivership Option for Rhode Island Businesses During the COVID-19 Pandemic

On March 31, 2020, Presiding Justice Alice B. Gibney of the Rhode Island Superior Court promulgated Administrative Order No. 2020-04, which authorized the Superior Court to implement the COVID-19 Non-Liquidating Receivership Program. The program is intende…

SBA Issues Affiliate Rules for Paycheck Protection Program

The SBA has issued guidance on the affiliation rules (the (“Guidance”) applicable to the implementation of the Paycheck Protection Program (“PPP”). For purposes of determining the number of employees of an applicant to the PPP (which requires an ap…

CARES Act and Interagency Guidance Encourage Loan Modifications Related to COVID-19

The Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") enacted on March 27, 2020 provides banks and their borrowers with temporary relief regarding troubled debt restructurings ("TDRs"), for short-term loan modifications made in response to C…

Proposed Massachusetts Act Limiting Landlords from Terminating and Evicting Commercial and Residential Tenants

On April 2, 2020, the Massachusetts House of Representatives passed H. 4615, An Act providing for a moratorium on evictions and foreclosures during the COVID-19 Emergency. This bill now moves to the Senate for approval, and if approved by the Senate, will …

SBA Issues Interim Final Rule for Paycheck Protection Program: Key Takeaways for Your Loan Application

Yesterday evening the Small Business Administration (“SBA”) issued an interim final rule (the “Guidance”) related to the implementation of the Paycheck Protection Program (the “PPP”) under the CARES Act. The Guidance can be found at this link.T…