On Monday, the Supreme Court resolved a circuit split and issued a long-awaited decision holding that broad U.S.-style discovery under 28 U.S.C. § 1782 is not available in private foreign arbitrations. In the past decade,...more
A recent decision in the Delaware Chancery Court broadens the risk of inter-corporate liability by endorsing the theory of “reverse” veil-piercing, where a plaintiff can reach down to the assets of a parent company’s...more
After months of stalled negotiations, Congress has passed sweeping new COVID-19 relief legislation that, among other things, revitalizes and revises the Paycheck Protection Program. The new legislation reopens the program to...more
The Small Business Administration issued long-awaited rules governing lender and borrower obligations when there is a change in ownership of an entity that has received a Paycheck Protection Program (“PPP”) loan. The new...more
As Congress scrambles to craft the next phase of COVID-19 stimulus and relief legislation, both sides of the aisle appear to be in agreement on expanding the Paycheck Protection Program (PPP) to include more funds for small...more
A ripening circuit split over the availability of U.S. discovery in foreign arbitration proceedings took another step toward a possible Supreme Court showdown with the July 8 decision by the United States Court of Appeals for...more
On June 16, the Small Business Administration released an updated PPP Loan Forgiveness Application (SBA Form 3508) and a simplified version for certain eligible borrowers (SBA Form 3508EZ), both reflecting program changes...more
The Paycheck Protection Program Flexibility Act (PPFA), passed by both houses as of June 3, makes significant changes to the Paycheck Protection Program affecting both new and existing loans, including reducing the amount of...more
On May 22, the SBA and Treasury released two additional interim final rules (IFRs) on PPP loan forgiveness, providing specific guidance to borrowers and lenders regarding their responsibilities, as well as information on the...more
On May 15, the SBA and Treasury released the long-awaited PPP loan forgiveness application and related guidance, providing much-needed clarity and ending weeks of speculation about how borrowers will obtain loan forgiveness....more
The Small Business Administration has issued new guidance regarding the certification of necessity under the Paycheck Protection Program. Now, borrowers who received loans for less than $2 million -- roughly 98% of PPP loans...more
The Small Business Administration has clarified through newly-issued guidance that employees of foreign affiliates must be counted when determining the size of a business for eligibility under the Paycheck Protection Program....more
5/7/2020
/ Borrowers ,
CARES Act ,
Interim Final Rules (IFR) ,
IRS ,
Loan Forgiveness ,
Non-Profit Hospitals ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
Small Business
On April 28, Treasury Secretary Steven Mnuchin announced the SBA would be conducting audits of all businesses that received greater than $2 million in PPP loans, reiterating his warning from last week that businesses...more
U.S. Supreme Court settles circuit split over whether plaintiffs must prove willful infringement in order to recover a defendant’s profits -
The Supreme Court’s decision Thursday in Romag Fasteners, Inc. v. Fossil, Inc....more
4/28/2020
/ § 1125(a) ,
§ 1125(c) ,
Appeals ,
Burden of Proof ,
Charge-Filing Preconditions ,
Compensatory Awards ,
Dilution ,
Lanham Act ,
Lost Profits ,
Remand ,
Remedies ,
Romag Fasteners v Fossil ,
SCOTUS ,
Trademark Infringement ,
Trademark Litigation ,
Trademarks ,
Vacated ,
Willful Infringement
Shortly after the passage of a bill injecting an additional $310 billion into the Small Business Administration’s Paycheck Protection Program, the SBA has issued another supplemental Interim Final Rule (IFR) providing new...more
A number of class-action lawsuits have been filed targeting national and community banks for their processing of loans under the Small Business Administration’s Paycheck Protection Program (PPP). It is not surprising that...more
As the nation scrambles to take advantage of the $2 trillion stimulus benefits in the CARES Act, numerous sources have stated that only businesses with 500 or fewer employees are eligible to apply for loans under the Act’s...more
In times of economic uncertainty companies face numerous enterprise-wide risks. The COVID-19 pandemic exponentially magnifies these risks, but critical lessons learned from the 2008 financial crisis can help blunt the impact....more
The Coronavirus (COVID-19) pandemic is causing unprecedented disruptions to business operations on a global scale. As these disruptions continue, and the economic effects mount, more industries will be significantly impacted....more
Yesterday, the Supreme Court unanimously held in Hana Financial v. Hana Bank, 574 U.S. ___ (2015), that trademark tacking is a question for juries. Trademark tacking, or the ability to "tack" a new mark to an older mark in...more
On October 20, 2014, Wyndham Worldwide Corporation won dismissal of a shareholder derivative suit seeking damages arising out of three data breaches that occurred between 2008 and 2010. Dennis Palkon, et al. v. Stephen P....more
New York’s high court announced last week that banking institutions with branches in New York are shielded from judgment creditors attempting to collect on customer assets held at foreign branches of the same bank....more
On October 20, 2014, Wyndham Worldwide Corporation won dismissal of a shareholder derivative suit seeking damages arising out of three data breaches that occurred between 2008 and 2010. Dennis Palkon, et al. v. Stephen P....more
10/27/2014
/ Board of Directors ,
Corporate Officers ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Department of Justice (DOJ) ,
Derivative Suit ,
Dismissals ,
Federal Trade Commission (FTC) ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Wyndham
The Supreme Court of the United States announced an important copyright decision last Wednesday in American Broadcasting Cos. v. Aereo, Inc. (573 U.S. ____ (2014)). The 6-3 decision by Justice Breyer reversing the United...more
Earlier this month, New York's Commercial Division, a department within the New York State court system designed to handle complex commercial disputes, established new procedures that provide a voluntary, alternative track to...more