The controversy over whether new businesses can be entitled to lost profits has long been debated among courts, legal counsel, and forensic accounting analysts. In fact, until recently, many courts rejected the idea that...more
Small Business Investment Companies (“SBICs”) are generally prohibited from investing in passive (i.e., non-operating) small businesses under the Small Business Investment Act of 1958 (the “Act”) and its implementing...more
Following a series of delays, on August 18 the U.S. Small Business Administration (SBA) announced that it would withdraw the Final Rule modifying its regulations on the ability of a small business investment company (SBIC) to...more
On May 2, 2017, the Small Business Administration (SBA) published a notice (the May 2 Notice), delaying the effective date of the final rule of the Passive Business Rule (the New Rule) under § 107.720 of the small business...more
On May 2, the U.S. Small Business Administration (SBA) published a Notice, delaying for an additional 90 days the effective date of a recent Final Rule that modifies SBA’s regulations on the ability of a small business...more
The rule has been further delayed to enable SBA to consider further the rule's impact on the SBIC program and its participants, and to make necessary determinations regarding the rule’s effects on SBAs examination and...more
On January 26, the U.S. Small Business Administration (SBA) published a Notice, delaying the effective date of a recent Final Rule that was set to modify SBA’s regulations on the ability of a small business investment company...more
On December 28, 2016, the Small Business Administration (SBA) released the final version of the Passive Business Rule (the New Rule) under § 107.720 of the small business investment company (SBIC) regulations. Among other...more