Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
On August 5, President Biden signed two bills into law that extend to ten years the statute of limitations for civil and criminal enforcement actions for fraud on the Paycheck Protection Program (“PPP”) and Economic Injury...more
March 26, 2021 By: Elizabeth L. Lehmann and Jeffrey B. Scheer The PPP Extension Act of 2021 (the PPP Extension Act) passed the Senate yesterday with overwhelming bipartisan support (92-7). The PPP Extension Act now awaits...more
On February 9, The Federal Reserve Board announced the second extension to a temporary modification of the Board’s rules that allows certain bank directors and shareholders to apply to their banks for Small Business...more
The CARES Act’s Paycheck Protection Program provides loans targeted to small businesses to help keep their workers employed during the coronavirus (COVID-19) pandemic, and offers loan forgiveness to borrowers maintaining a...more
On July 4, President Trump signed into law a bill extending the period during which borrowers can apply for paycheck protection program (“PPP”) loans from June 30 to August 8. The PPP loan program is part of the governmental...more
The Paycheck Protection Program (PPP), which was established in Section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is set to be extended by five weeks after the U.S. House of Representatives...more
In Washington: The House unanimously passed a bill to revive the $670 billion small business aid program hours after it shut down on Wednesday, extending the Paycheck Protections Program (PP) until Aug. 8. The Senate had...more
On July 4, 2020, President Trump signed into law a bill extending the deadline for small businesses to apply for a Paycheck Protection Program (PPP) loan to August 8, 2020. The original deadline to apply for a PPP loan had...more
On July 4, 2020, President Trump signed a bill that re-opens the application period for Paycheck Protection Program (“PPP”) loans until August 8, 2020. The five-week extension was approved by both houses of Congress last week...more
RECENT DEVELOPMENTS - July 2, 2020: NH’s quarantine requirement is lifted for New England residents. Today, Governor Sununu announced that effective immediately, New Hampshire has removed the quarantine requirement for New...more
On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law providing, among other relief, up to $349 billion to fund loans to small businesses affected by the...more
[Update: This is an updated version of an article published on June 5, 2020] - On June 5, 2020, the U.S. President signed into law the Paycheck Protection Program Flexibility Act (PPP Flexibility Act or Act) to provide...more
On June 5, President Trump signed into law the PPP Flexibility Act of 2020 (the Flexibility Act). The Flexibility Act modifies numerous loan eligibility, loan forgiveness, and loan repayment aspects of the PPP created under...more
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) was signed into law after nearly unanimous passage of the legislation by Congress. The PPPFA significantly overhauls the original PPP loan...more
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) was signed into law to provide relief to borrowers under the Paycheck Protection Program (PPP). The PPPFA amends the original Coronavirus Aid,...more
On Friday, June 5 President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act) into law. The PPP Flexibility Act modifies the Paycheck Protection Program (PPP) that was contained in the...more
In response to employer complaints that the Paycheck Protection Program (PPP) was not particularly useful to businesses (such as restaurants) that have had to remain shuttered because of the COVID-19 pandemic, Congress passed...more
On June 5, 2020, President Trump signed into law the Payroll Protection Program Flexibility Act of 2020 (the Flexibility Act). The Flexibility Act provides much-needed flexibility for the Paycheck Protection Program (PPP) and...more
On Wednesday evening, the U.S. Senate passed the Paycheck Protection Program Flexibility Act (the “Act”), which amends the CARES Act to provide businesses with greater flexibility in the use of PPP funds. President Trump...more
On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”), a bipartisan measure aimed at providing additional flexibility and extended relief to small business borrowers under...more
On June 5, 2020, the U.S. President signed into law the Paycheck Protection Program Flexibility Act (PPP Flexibility Act or Act) to provide businesses with greater flexibility and more time to maximize forgiveness of loans...more
The U.S. Senate passed an amendment to the CARES Act on June 3 called the Paycheck Protection Flexibility Act of 2020 (PPFA), extending the time for employers to use funds received in a Paycheck Protection Program (PPP)...more
In the wake of the massive economic disruption caused by the Coronavirus outbreak, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020. The Payroll Protection Program...more
Over the past several months, the COVID-19 health crisis has affected everyday life by a magnitude that is hard to fathom. Routine tasks, such as going to the grocery store or walking the dog, suddenly necessitate precautions...more
On May 27, 2020, the U.S. House of Representatives overwhelmingly approved a bill which if enacted into law would make the Paycheck Protection Program (PPP) more helpful to small businesses, including through an expansion of...more