Tag Archives: GT Insight

SBA Releases PPP Loan Forgiveness Application

Late on May 15, the SBA released its PPP Loan Forgiveness Application. View the application form and instructions here. The U.S. Treasury also published some initial, limited commentary. Find the commentary here. These documents provide certain guidance on options for calculation of payroll costs, instructions on performing required calculations under the CARES Act, among other … Continue Reading

Now That I Have My Paycheck Protection Program Money, What Can I Do with It?

Q. Assuming I properly received PPP funds, what can I spend it on? A. The allowable uses of PPP loan funds are as follows: 75% of the PPP loan funds must be used for payroll costs for U.S. resident employees (salaries are capped at $100,000 per employee), The remaining 25% may be spent on: Costs … Continue Reading

New Guidance on PPP Loan Eligibility: Hedge Funds, PE Funds, and Businesses with Access to Liquidity

Many Israeli companies have operations set up in the US, thus have been adversely affected by COVID-19 on both the Israeli and American fronts. The US government recently announced adding additional funds to the PPP loans, making it possible for eligible companies, certain Israeli corporations included, to apply for funding.  The US government also provided … Continue Reading

Poland’s ‘Crisis Shield’ from the Real Estate Perspective

On 21 March 2020, a project of a bill amending the recently enacted Emergency Act related to the Prevention, Counteracting and Combating of the COVID-19 Pandemic, was presented by the Polish government and known as the “Crisis Shield”.  This remarkable initiative of the Polish government will provide an automatic 90% rent reduction to retail tenants … Continue Reading

Agriculture Provisions in the CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed by Congress and signed into law by President Trump on March 27, 2020, includes several provisions offering support for U.S. agribusiness, ranchers, and farmers. Overall the legislation includes roughly $49 billion in funding for crop and livestock producers, nutrition assistance, and support for local producers … Continue Reading

Cybercriminals Adapt Old Scams to Capitalize on COVID-19

While many companies across the United States transition to remote working, scammers are taking this opportunity to target vulnerable and unsuspecting employees. Some emails and websites promising information about keeping safe from, and offering resources for, the Coronavirus Disease 2019 (COVID-19) pandemic have turned out to be scams that push malware, ransomware, and disinformation, or … Continue Reading

Real Estate Provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed by the United States Senate on March 25, 2020, passed by the United States House of Representatives on March 27, 2020 and signed into law by President Trump on March 27, 2020. The CARES Act is the third financial aid package enacted in … Continue Reading

COVID-19 Federal Legislative and Regulatory Economic Stabilization Programs – What Your Business Needs to Know

As the Coronavirus Disease 2019 (COVID-19) pandemic continues in the United States, the U.S. Congress and the U.S. federal financial regulatory agencies – the Federal Reserve, U.S. Department of the Treasury, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, and the Consumer Financial Protection Bureau (collectively, the Financial … Continue Reading

Update: Latin America Renewable Energy – Calls for Public Bids

I. Argentina The fourth call for bids related to the last quarter of 2019 bidding process for joint purchases of renewable energy in the Renewable Energy Term Market (“MATER”) with the government of Argentina, was cancelled due to the lack of interest from the private sector. II. Chile The Under Ministry of Energy of Chile … Continue Reading

Congress Passes CARES Act: Overview of the Relief Available to Small and Other Business Concerns

In the midst of a global pandemic and the highest unemployment rates the United States has seen since 1933, President Trump signed into law the $2 trillion dollar Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), providing economic relief to businesses, States and municipalities, and individuals affected by COVID-19. While the scope of … Continue Reading

Risk Allocation for Economic Losses from Coronavirus Disease 2019

Coronavirus Disease 2019 (COVID-19) is causing unprecedented disruptions to the U.S. economy. Government officials and health professionals are predicting that these disruptions could continue through September. Businesses are having to face the challenges of operating remotely; many are cancelling non-essential travel – hampering long-planned meetings and conventions. Global supply chains are impeded as countries work … Continue Reading

Coronavirus Disease 2019 and Force Majeure Contract Clauses

While it is too early to predict how long the Coronavirus Disease 2019 (COVID-19) will disrupt everyday life, it isn’t too soon to proactively consider your potential risk and understand both potential consequences and benefits of the legal landscape when planning for or dealing with the COVID-19 outbreak. Read the full GT Alert, “Coronavirus and … Continue Reading

CFIUS Issues Final Regulations on National Security Review of Foreign Investments in the United States under FIRRMA: Broader Reach, Mandatory Filings, and Limited Exceptions

On Jan. 13, 2020, the Committee on Foreign Investment in the United States (CFIUS) released two long-awaited sets of final regulations that implement nearly all of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) and go into effect on Feb. 13, 2020. As reported in our GT Alert of Aug. 14, 2018, the … Continue Reading

Federal Court Denies Request of Foreign Companies to Conduct Discovery in the United States in Aid of a Foreign-Seated Arbitration

U.S. life sciences companies with ties overseas can be encouraged by a recent federal ruling that denied the request of foreign companies to conduct discovery in the United States in aid of a foreign-seated arbitration. On Jan. 14, 2020, Judge Maryellen Noreika for the District Court of Delaware denied an ex parte application for discovery in … Continue Reading

UK to Formally Leave EU on Friday 31 January 2020

On Friday 24 January, UK Prime Minister Boris Johnson signed, on behalf of the UK, the Withdrawal Agreement – the agreement setting out the terms of the UK’s exit from the European Union (“Brexit”). This followed the successful passing of the UK domestic legislation necessary to implement the Withdrawal Agreement, the European Union (Withdrawal Agreement) … Continue Reading

The FY 2020 National Defense Authorization Act’s Substantial Impact On Federal Procurement Law

Michael Schaengold, Melissa Prusock, and Danielle Muenzfeld co-authored an article in The Government Contractor titled “FEATURE COMMENT: The FY 2020 National Defense Authorization Act’s Substantial Impact On Federal Procurement Law.” The article comprehensively examines the significant Federal procurement law changes in the FY 2020 National Defense Authorization Act, many of which apply to Federal civilian … Continue Reading

Outlook 2020: Gambling Legislation and Enforcement in the Netherlands

The Dutch government is updating its legislation and policy on both online gambling and land-based gambling. In GT Alert, we briefly describe the most relevant legal developments of 2019 in this area, and also look forward to 2020. Online gambling’s illegality in the Netherlands notwithstanding, the number of people in the Netherlands who participate in … Continue Reading

Federal Communications Commission Rules Require Communications in Video Games to Be Accessible and Usable

Advanced Communications Services (ACS) that are available in video games, such as instant messaging, enable players to interact with other players and offer an enhanced gaming experience. The Twenty-First Century Communications and Video Accessibility Act of 2010 (CVAA) updated accessibility laws to ensure that persons with disabilities have access to modern technologies used in communications. … Continue Reading

Adam Snukal Discusses Effects of Privacy Laws on Israeli-Based Call Center Technology Providers

On Nov. 25, 2019, GT Shareholder Adam Snukal participated in a fire-side chat at NICE’s Annual Personal Connections Elevated Israel Conference. The discussion focused on the effects of the GDPR, CCPA, and other privacy laws on Israeli-based call center technology providers that operate in an increasingly global arena.… Continue Reading

U.S. House Passes Bill That Would Require Disclosure of Beneficial Owners of U.S. Corporations and Limited Liability Companies

A newly approved Bill could significantly increase disclosure requirements for Israelis invested in or operating business in the U.S. The Corporate Transparency Act of 2019 would require that the identities (including addresses and passport information) of the “beneficial owners” of US LLC’s or corporations be reported. Updated information would need to provided annually. While similar … Continue Reading

2 Recent Cases Impacting False Claims Act Litigation and Investigations Deserve the Attention of Health Care Providers and Private Equity Investors

The United States Attorney’s Office for the Southern District of Florida announced on Sept. 19, 2019, that it settled a qui tam False Claims Act case in which a private equity firm was a named defendant. See United States ex rel. Medrano and Lopez v. Diabetic Care Rx LLC, d/b/a Patient Care America, et al., … Continue Reading

Does Section 1782 Apply to Discovery in Private International Commercial Arbitration Proceedings?

Life sciences companies should pay attention to an ongoing action in Delaware that could have implications for whether they can obtain (or be subjected to) U.S. discovery in international arbitration under 28 U.S.C. § 1782. Section 1782 is a powerful tool that permits litigants to obtain broad discovery in the United States for use in … Continue Reading
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