october 28, 2020
october 22, 2020
October 19, 2020
october 15, 2020
october 12, 2020
october 8, 2020
october 5, 2020
september 22, 2020
september 21, 2020
September 11, 2020
august 4, 2020
july 6, 2020
july 1, 2020
- PPP Loan Deadline May Be Extended as SBA Issues New Rules Relating to Loan Forgiveness and Eligibility
- California Looks to Pass Legislation Concerning Business Interruption Coverage Due to COVID-19
June 29, 2020
June 22, 2020
- PPP Loan Forgiveness Application Forms Updated and Streamlined
- Nevada Division of Insurance to Disallow Policy Exclusions Related to COVID-19
- CDI Announces New Order Regarding Workers’ Compensation Premium Savings for CA Businesses Affected by COVID-19
june 15, 2020
june 10, 2020
- Note to the SBA: Debtors in Bankruptcy Are Eligible for PPP Loans
- California Modifies the Tolling of Statutes of Limitations in Civil Cases
june 8, 2020
June 4, 2020
may 29, 2020
may 28, 2020
may 27, 2020
- Hoteliers Beware: a Return to Business Post-Pandemic Brings With It Potential Legal Liability
- House Contemplates Revisions to the Paycheck Protection Program
may 15, 2020
may 14, 2020
- U.S. House Democrats Introduce HEROES Act, a New $3T Stimulus Package
- SAFE Banking Act for Cannabis-Related Businesses Included in the HEROES Act
may 12, 2020
may 8, 2020
- Treasury and the SBA Issue Guidance Regarding the Employee Retention Credit
- Businesses Reopen in Los Angeles County as Stage 2 of California’s Statewide Plan Begins
- Update: Large Employers Required to Pay Coronavirus-Related Sick Leave Under New L.A. County Ordinance
may 6, 2020
- SBA Extends PPP Certification Safe Harbor to May 14
- EPLI Insurance and Employee Benefits in the Age of the Coronavirus
may 5, 2020
- Update: PPP Guidance Issued by the SBA and U.S. Treasury at Odds With the CARES Act—Michelman & Robinson Files First-of-Its-Kind Lawsuit Challenging FAQs
- NAIC Issues Business Interruption Data Call in the Wake of COVID-19
may 4, 2020
may 1, 2020
april 29, 2020
- Planning for Your Employees' Return to the Workplace
- Los Angeles Hospitality Workers Among Those Thrown a Potential Lifeline
april 24, 2020
- Attention Cannabis Businesses: Hope May Be on the Horizon for Federal COVID-19-Related Relief
- California Department of Insurance Issues Notice Granting Tax-Filing Extension in Response to COVID-19
- SEC Approves Amendments to Nasdaq and NYSE Continued Listing Requirements Due to the COVID-19 Pandemic
April 23, 2020
april 21, 2020
- Additional Funding Is on the Way to Resurrect the PPP
- Certifying Your PPP Loan: Proceed With Caution
april 17, 2020
april 16, 2020
- Employment in the Wake of Coronavirus: EEOC and OSHA Guidance Allows Employers to Go Where They Could Not Go Before
- New Yorkers Ordered to Stay at Home Even Longer Amid the COVID-19 Crisis
- Paycheck Protection Program Funds Exhausted
april 15, 2020
April 14, 2020
- Insurance Companies Have Been Ordered to Provide COVID-19-Related Premium Relief to Businesses and Drivers in California
- What to Do If Your New York Business Has Been Deemed Non-Essential
APRIL 13, 2020
- IP Deadlines and Fees Extended Under the CARES Act
- Employment in the Wake of Coronavirus: Reintegrating Your Workforce in the New Normal
APRIL 10, 2020
- You Successfully Applied for and Received a PPP Loan Under the CARES Act: Now What?
- Safer at Home Order in L.A. Extended to May 15
- Maintaining Your Trade Secrets During the Coronavirus Crisis
APRIL 9, 2020
april 8, 2020
- Congress Looks to Bolster the PPP With Another $250B in Funding
- U.S. Treasury Provides Further Guidance to PPP Borrowers and Lenders
- L.A. Mayor Amends COVID-19-Related Paid Sick Leave Ordinance
april 7, 2020
April 3, 2020
april 2, 2020
april 1, 2020
March 31, 2020
march 30, 2020
- Large Employers Required to Pay Coronavirus-Related Sick Leave Under New L.A. Ordinance
- Insurance Coverage Potentially Triggered by COVID-19
- Attention Insurers: CDI Orders Mandatory Call for Business Interruption Coverage Information in the Wake of COVID-19
- DOL Is Requiring Employers to Post Families First Employee Rights Notice
March 27, 2020
- A Comprehensive Guide to Understanding Coronavirus-Related State Assistance Programs: Who is Giving What to Whom (Part II)
- HHS Relaxing Enforcement of HIPAA to Facilitate Sharing of Information During the COVID-19 Crisis
March 26, 2020
march 25, 2020
march 24, 2020
- Navigating the Coronavirus Pandemic: a Critical Business Review Checklist
- SBA Loans for Companies Impacted by Coronavirus
- SEC Relaxes Federal Proxy Rules for Annual Meetings
march 23, 2020
- Federal Reserve Responds Boldly to Coronavirus-Related Economic Downturn
- The Number of Jurisdictions Implementing Stay-at-Home Orders Is Increasing Exponentially
- Michelman & Robinson’s Guide to Coronavirus-Related Paid Sick Leave and Unemployment Insurance Laws in the Tri-State Area
MARCH 21, 2020
MARCH 20, 2020
- New York Governor’s PAUSE Order
- Illinois Governor’s Statewide Stay-at-Home Order
- Force Majeure Clauses in Commercial Real Estate Contracts
MARCH 19, 2020
- SEC Provides Regulatory Relief for Public Reporting Companies
- Student Loan Borrowers Can Breathe a Sigh of Relief, At Least Temporarily
- California Governor's Statewide Stay-At-Home Order
MARCH 18, 2020
- "Shelter in Place" Orders
- Telecommuting in the Age of Coronavirus
- Families First Coronavirus Response Act Just Passed by the Senate and Signed Into Law by the President
MARCH 17, 2020
MARCH 16, 2020
MARCH 5, 2020
M&R Coronavirus Risk Mitigation Team: A Multi-Disciplinary Legal Team Ready To Immediately Address A Host Of Coronavirus-Related Issues for Businesses, Quickly And Holistically
RICHARD REICE
MARCH 17, 2020
In the wake of the coronavirus (COVID-19) outbreak, which has had an unprecedented impact on how businesses operate around the world, Michelman & Robinson, LLP has announced the formation of an interdisciplinary risk mitigation response team to assist companies across sectors adversely affected by the pandemic.
Potential Problems Abound
These are unprecedented times. News about coronavirus and its spread is constant and mostly negative: large public gatherings are banned, restaurants and bars closed, sporting event canceled, and workers asked to work from home or otherwise facing furlough. As it relates to businesses, coronavirus presents multiple challenges. On the employment front, questions range from decisions regarding legal and moral obligations to maintain a safe workplace, to the implementation of employee screening, leave and telecommuting policies.
In terms of operations, business continuation concerns are acute. Supply chain interruptions, transportation problems, or the need to quarantine workforces may lead to an inability to meet contractual deadlines, which could result in claims of contract breach or the need to renegotiate agreements. Likewise, companies that are shuttered or unable to operate as usual may elect to file business interruption claims with their insurers. In addition, financial concerns or pressures may move businesses to pull from existing credit lines (discussed below), seek new avenues of financing, or reduce costs by renegotiating existing obligations (e.g., vendor contracts, financing agreements and leases, etc.).
Coronavirus Risk Mitigation Team Is Here for Clients 24/7
To successfully navigate the myriad issues presented by the coronavirus crisis, businesses like yours will need to draw on a wide range of resources, including legal counsel that can respond with immediate, practical advice and hands-on assistance. The M&R Coronavirus Risk Mitigation Team—made up of attorneys practicing out of the firm’s offices in New York, Illinois and Chicago—has been launched to do just that. Comprised of experienced, subject matter experts, the risk mitigation team is singularly focused on piloting clients through these troubling times.
The Risk Mitigation Team Addresses Cash Flow Questions
Among the many inquiries the risk mitigation team has received from clients is this: why are we hearing about so many companies drawing on their lines of credit in the wake of the coronavirus pandemic?
The assumption is that banks and lending institutions are somehow in peril. No, our financial system remains strong, and the rush for cash is not enough to stress a banking system that has been holding excess reserves for years.
In reality, certain businesses are pulling from existing credit facilities now as a precautionary measure and in light of provisions that may be included in their credit agreements; namely, representations and warranties that require a level of liquidity or cash flow in order to access cash. Given the uncertainty of how the outbreak will impact receivables going forward and to avoid a cash crunch, a number of companies are making the determination whether to leverage their lines of credit at this time when they have no doubt that they are compliant in terms of liquidity and cash flow.
The upshot is that all businesses, yours included, should understand the language and mandates of their credit agreements so they can factor that into their risk assessments and plan accordingly. Toward that end, the task force includes a team of banking and finance specialists that can provide all necessary advice and counsel.
Whatever Your Concern, M&R’s Coronavirus Risk Mitigation Team Is Here to Help
Our interdisciplinary response team stands to provide immediate guidance—24/7—to stakeholders on a wide range of topics, including workforce safety, leave policies and labor relations, as well as coronavirus-related operational, corporate, tax, insurance and real estate issues. Together, we will get through this crisis. Until we do, rest assured that M&R’s Coronavirus Risk Mitigation Team is on call for you.
We are working diligently to keep our clients up to date on coronavirus-related developments. Nevertheless, these developments are changing daily and, in some cases even hourly, so it is important that you make sure you are dealing with the most current information. That being said, this alert is not offered, and should not be relied on, as legal advice. You should consult an attorney for guidance and counsel regarding any specific concern or situation.