On October 2, 2020, the Small Business Administration (SBA) issued a long awaited Procedural Notice providing guidance with respect to a change of ownership of businesses that borrowed Paycheck Protection
Continue Reading US Small Business Administration Issues Guidance on Change in Ownership of PPP Loan Borrowers

Businesses have been hard hit by the COVID-19 pandemic and resulting “shelter in place” orders issued by state officials. Bankruptcy courts have been flooded with large retailer bankruptcy filings.  Since
Continue Reading New York Commercial Landlords and Practitioners: Maybe There is Hope That New York Courts Will Not Void Leases in The COVID-19 Era

Many of our clients have asked whether they can commence a commercial foreclosure in New York State at this time.

On March 7, 2020, Governor Cuomo issued Executive Order (“EO”)
Continue Reading New York State’s Rules for Commencement of Commercial Foreclosures During the Covid-19 Pandemic

Continuing the trend of releasing amorphous guidance at the eleventh hour, this afternoon the Department of the Treasury (Treasury) and the U.S. Small Business Administration (SBA) released much-anticipated guidance as
Continue Reading Breaking News: New Guidance Issued, PPP Loans of $2 Million or More to Face Scrutiny When Forgiveness is Sought