Client Alert

The Paycheck Protection Program (PPP) has provided a crucial lifeline to small businesses facing economic uncertainty as a result of the Coronavirus pandemic, offering forgivable loans of up to $10 million.  However, as shown by recent steps taken by federal authorities to root out – and prosecute – fraud and abuse of the PPP, PPP loan applicants must be vigilant to ensure their compliance with the PPP’s requirements.  Our firm has prepared this Client Alert to provide an overview of the PPP’s requirements, describe ongoing PPP-related prosecutions, and recommend best practices in seeking and using PPP loan funds.

Donald T. Fox, a founder of our firm, and former Treasurer and Executive Committee member, and member since 1960 of the New York City Bar Association, was asked to contribute to its 150th anniversary celebrations by sharing his experience with the Association. In his contribution article, Mr. Fox referred to his experience with the Association and certain other highlights of his professional and academic career. Please see below the New York City Bar Association‘s publication (https://www.nycbar.org/150/donald-t-fox/).  An interesting detail not included in this article is that, in its early days, the firm became a leading financial supporter of the Bar Association, in this way joining the then denominated “elite” category. At a time when our firm occupied a sublease in the Daily News Building on East 42^nd Street, its law library was that of the Association on West 43^rd Street. Before we attained financial success, our firm’s name appeared on the list of top donors to an Association capital campaign, which happened to be posted outside the library.

The COVID-19 outbreak has posed unprecedented challenges to companies big and small.  Many have been forced to re-evaluate the viability of their contractual obligations or question the ability of their counterparty to comply with the contract.  Businesses should be aware of how they may be affected by force majeure clauses or other common law contract principles.  Our firm has prepared this memorandum to provide a brief overview of force majeure analysis by courts in New York, Delaware, and Florida.

El brote de COVID-19 ha planteado desafíos sin precedentes para pequeñas y grandes empresas. Muchos se han visto obligados a reevaluar la viabilidad de sus obligaciones contractuales o cuestionar la capacidad de su contraparte para cumplir con dichas obligaciones. Las empresas deben ser conscientes de cómo pueden verse afectadas por cláusulas de fuerza mayor u otros principios contractuales del common law. Nuestra firma ha preparado este memorándum que incluye un breve análisis del tratamiento de casos de fuerza mayor a cargo de los tribunales de los estados de Nueva York, Delaware y Florida.

A Covid-19 gerou desafios sem precedentes para pequenas e grandes empresas. Muitas companhias foram forçadas a reavaliar a viabilidade de suas obrigações contratuais ou verificar se a contraparte tem capacidade de cumprir o contrato. As empresas devem estar cientes de como podem ser afetadas por cláusulas de força maior ou outros princípios contratuais do common law. Nosso escritório preparou este memorando para discutir brevemente sobre a análise de força maior pelos tribunais de Nova York, Delaware e Flórida.

Our Firm has prepared a memorandum to briefly discuss the proclamation signed on April 22, 2020, by President Trump that suspends the entry into the U.S. of intending immigrants “who present risk to the U.S. labor market.” If you have any questions about this Client Alert, please contact us.

Nuestra firma ha preparado un memorándum para discutir brevemente la proclamacion firmada el 22 de abril de 2020 por el Presidente Trump que suspende la entrada a Estados Unidos de quienes tengan intenciones de ingresar y “presenten un riesgo al mercado laboral de Estados Unidos”. Si tiene alguna consulta sobre este Alerta, por favor contáctenos.

Nosso escritório preparou um memorando para discutir brevemente sobre o decreto assinado pelo presidente Trump em 22 de abril de 2020, que suspende a entrada de de imigrantes que tenham a intenção de ingressar nos Estados Unidos e “que apresentem risco ao mercado de trabalho dos Estados Unidos”. Estamos à disposição para esclarecer qualquer dúvida sobre esse comunicado.

COVID-19 and The Government Incentives

Our Firm has prepared a memorandum to briefly discuss several incentives and relief packages the United States has implemented to address the Coronavirus (COVID-19) outbreak and the related impacts on businesses. If you have any questions about this Client Alert, please contact us.

Nuestra firma ha preparado un memorándum para discutir brevemente los distintos paquetes de incentivos y alivios que Estados Unidos ha implementado para abordar el brote de Coronavirus (COVID-19) y el consecuente impacto en empresas y negocios.  Si tiene alguna consulta sobre este Alerta, por favor contáctenos.

Nosso escritório preparou um memorando para brevemente discutir sobre os diversos pacotes de incentivos que os Estados Unidos implementaram para tratar do Coronavírus (COVID-19) e seus impactos nas empresas e negócios. Se tiver alguma dúvida, por favor nos contate.