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COVID-19 Legal Resources

Olshan Frome Wolosky LLP is gathering information related to COVID-19 issues and concerns to assist clients in navigating the national and New York states of emergency.

We will continue to prepare updates during this fluid situation. Clients and friends are encouraged to contact us with specific legal or operational questions or issues.

COVID 19 Health and Welfare Benefit Plans Update

The Internal Revenue Service and the U.S. Department of Labor have issued guidance related to COVID-19 disaster relief that provides flexibility to health and welfare benefit plans. This client alert discusses temporary relief for time-sensitive events; changes to cafeteria plans; changes to high-deductible health plans; and miscellaneous health and welfare benefit plan changes.  Read More ›

The Paycheck Protection Program Flexibility Act

Stay up to date on recently released guidance and the tools you will need to make sure you properly apply for PPP loan forgiveness. Read More ›

Main Street Loan Facilities (June 8th Update)

On June 8, 2020, the Federal Reserve released additional guidance on the Main Street Lending Program, completely replacing earlier set of FAQs (April 30, 2020 and May 27, 2020) with new FAQs and revised term sheets.  Read More ›

The Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010)

On June 5, 2020 (the Enactment Date), the President signed the Paycheck Protection Program Flexibility Act of 2020 (the Flex Act), after the Senate approved the House bill without change. While the Flex Act makes welcome improvements to the Paycheck Protection Program (PPP), implementing administrative guidance remains necessary. On June 8, the SBA issued a press release clarifying a key Flex Act provision on loan forgiveness and outlining its initial regulatory priorities (the Press Release). Read More ›

New York State Courts

On March 20, Governor Cuomo issued an Executive Order tolling time limits for (among other things) commencement of actions, deadlines for motions, and deadlines for appellate filings.  These deadlines have since been extended to June 6, 2020.  Read More ›

Main Street Loan Facilities

On May 27, 2020, the Federal Reserve released additional guidance on the Main Street Lending Program, completely replacing an earlier set of FAQs (April 30, 2020) with new FAQs and issuing model loan documents.  This post reflects the new guidance. Read More ›

COVID-19-Related Telemarketing Developments

We continue to monitor the effects of the COVID-19 pandemic on telemarketing regulations. The FCC has allowed health care providers to place emergency automated calls and text messages related to COVID-19, but three states have seen new telemarketing restrictions triggered by state-of-emergency declarations. Meanwhile, California is considering changes to its telemarketing statute unrelated to the pandemic. The following summarizes these recent developments: Read More ›

SEC Brings Enforcement Actions Against Companies for Misleading COVID-19 Claims

The U.S. Securities and Exchange Commission (the “SEC”) filed enforcement actions on May 14, 2020, against two unrelated companies, Turbo Global Partners, Inc. (“Turbo”) and Applied BioSciences Corp. (“APPB”). The SEC charged both companies with securities fraud based on alleged materially misleading statements that the companies were offering and shipping products to combat the coronavirus (COVID-19). These actions taken by the SEC are consistent with approaches taken by other regulators, including the Federal Trade Commission and Food and Drug Administration (the “FDA”), with regard to misleading statements made in connection with coronavirus-related products. On the whole, regulators appear to be particularly cognizant of businesses and individuals seeking to take improper advantage of the circumstances created by the global pandemic, and as such are taking action against such companies and individuals. Read More ›

Congresswoman Proposes Federal Pandemic Insurance Plan

As the battle over insurance for COVID-19 losses rages in courts, one congresswoman has proposed a bill aimed at creating protections from the next pandemic. Read More ›

Living with a PPP Loan (Part II)

As the U.S. Small Business Administration and lenders deploy resources from the Paycheck Protection Program ("PPP") businesses owners need to know what they need to do to ensure the loan is forgiven so they are not saddled with unnecessary debt. Stay up to date on recently released guidance and the tools you will need to make sure you properly apply for PPP loan forgiveness.

This PowerPoint presentation will provide an overview of PPP loan forgiveness, documents you will need to prepare, and pitfalls to avoid to ensure your loan is forgiven.  Read More ›

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