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Recent Posts
- COVID-19 Resource Guide
- PPP Loan Forgiveness Application Revised
- New York’s Executive Orders 202.8 and 202.28 Should Not Stop Commercial Lease Enforcement, Though New York City Legislation Sets Limitations on Landlords Seeking Recovery From Personal Guarantors for Tenant Defaults
- COVID 19 Health and Welfare Benefit Plans Update
- The Paycheck Protection Program Flexibility Act
- Main Street Loan Facilities (June 8th Update)
- The Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010)
- New York State Courts
- Main Street Loan Facilities
- COVID-19-Related Telemarketing Developments
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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.
Showing 8 posts from June 2020.
New York’s Executive Orders 202.8 and 202.28 Should Not Stop Commercial Lease Enforcement, Though New York City Legislation Sets Limitations on Landlords Seeking Recovery From Personal Guarantors for Tenant Defaults
Governor Cuomo’s Executive Order 202.8, dated March 20, 2020, froze evictions of any residential or commercial tenant through June 18, 2020, but did not expressly restrict taking enforcement actions against tenants short of an actual eviction. On May 7, 2020, Governor Cuomo issued Executive Order 202.28, which extended that moratorium until August 20, assuming the owner or tenant “is eligible for unemployment insurance or benefits under state or federal law or otherwise facing financial hardship due to the COVID‑19 pandemic.” Neither of these Executive Orders expressly restricts landlords from taking enforcement actions against tenants short of an actual eviction, including terminating leases based on tenant defaults. They also do not obviate a commercial tenant’s obligation to continue paying rent under the lease. Read More ›
PPP Loan Forgiveness Application Revised
On June 16, 2020, the Small Business Administration revised the loan forgiveness application for loans issued under Paycheck Protection Program and issued a new interim final rule, to reflect changes made by the Payroll Protection Program Flexibility Act of 2020. This blog post outlines important changes in the new guidance. Read More ›
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 ›