April 2020

CARES Act Relief for Mid-Sized and Large Businesses

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. $454 billion (plus any amounts not used for Industry-Specific Relief) has been set aside to make loans and loan guarantees to, and other inves…

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…

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…

Tax Breaks and Benefits for Businesses Impacted by COVID-19

The pandemic of COVID-19 has drastically impacted the United States economy. Over the past few weeks, federal legislation has quickly been enacted to help stimulate the economy and provide much needed cash flow to individuals and businesses. In this alert,…

March 2020

How to Handle a Bankruptcy Filing By an Owner or Subcontractor

Given the coming economic turbulence stemming from the COVID-19 pandemic, general contractors should be prepared with a plan of action in case a project owner or subcontractor files a bankruptcy petition. This article discusses two issues in that regard wh…

Payroll Loans and Loan Forgiveness: New Relief Opportunities for Small Businesses under the CARES Act’s Paycheck Protection Program

This afternoon the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), a nearly $2 trillion stimulus package to help address the economic impact of the recent COVID-19 pandemic was signed into law. Included in the CARES Act is a Paycheck …