By Eugene G. Bernardo II and David M. DiSegna The Federal Reserve Board has expanded the number and type of governmental entities eligible to utilize the Municipal Liquidity Facility (MLF) that was established to help state and local governments manage cash flow pressures caused by the coronavirus. Under the revised eligibility requirements, all states will...
COVID Furloughs, Layoffs or Job Modifications May Void Your Existing Non-Competition Agreements With Rhode Island and Massachusetts having recently commenced Phase 2 of each of their respective “Reopenings,” more and more employers are currently bringing employees back to work who had been previously furloughed or laid off due to the COVID-19 pandemic. Employers are also...
The Senate has passed legislation (H.R. 7010) providing more flexibility to recipients of loans under the Paycheck Protection Program (PPP). The legislation already passed the House and now just awaits President Trump’s signature. Under the PPP, loans that are used for certain eligible expenses during an applicable time period are eligible for forgiveness. Loan forgiveness may be...
By Robert Taylor and Paul Kessimian In a case having broad implications for residential real estate transactions, title insurance companies, and the mortgage industry, the Rhode Island Supreme Court on May 29 addressed the issue of whether residential real estate closings and related services should be considered the practice of law, and if so, whether...
The current COVID-19 pandemic has forced many businesses online in order to survive. In many cases, businesses had no plans to be online. Others were forced to move online more quickly than planned. In order to assist these businesses, we are preparing a series of articles discussing some of the more important legal issues to...
On May 13, 2020, the SBA revised its frequently asked questions and added question #46 – “How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?” In order to receive a PPP loan a borrower had to certify in good faith that “current economic uncertainty makes this loan request necessary...
The United States Department of Labor (“DOL”) has once again updated its guidance for employers on the implementation of emergency FMLA and emergency sick leave under the Families First Coronavirus Response Act (“FFCRA”). The Guidance is in the form of a series of questions and answers. The well-organized topics are easily navigated (which is a good...
By Alicia J. Samolis The Rhode Island governor has issued several new orders that affect Rhode Island businesses. Importantly, all Rhode Island businesses are now subject to regulations promulgated by the Rhode Island department of health pursuant to Executive Order 20-32. Specially, businesses must: (a) Keep a cleaning log documenting the date, time and location of cleaning...
The current COVID-19 pandemic has forced many businesses online in order to survive. In many cases, businesses had no plans to be online. Others were forced to move online more quickly than planned. In order to assist these businesses, we are preparing a series of articles discussing some of the more important legal issues to...
On April 28, 2020, the U.S. Small Business Administration released a supplemental Interim Final Rule that answered some of the questions being asked by many Paycheck Protection Program (PPP) loan applicants and stakeholders. Further guidance on the loan program is anticipated, but this interim rule adds some additional clarity to the program’s parameters. One important...
