Legal News

The SBA has continued its wave of regulations and guidance as PPP borrowers begin to apply for loan forgiveness. New regulations address nuanced, but important, issues such as “owner-employee” compensation and the allowability of “related party” rent payments....By: Pillsbury Winthrop Shaw Pittman LLP

Considerations for PPP borrowers as they apply for loan forgiveness - As the Paycheck Protection Program (PPP) enters its forgiveness phase—where many borrowers have exhausted or are about to exhaust their loans and will begin the process of applying for loan forgiveness—we provide answers to some of the questions most frequently asked by our clients about the program....By: Pillsbury Winthrop Shaw Pittman LLP

For associations facing a bleak future as a result of COVID-19, a merger with another association in the same field may provide a lifeline. Integrating culture and operations poses challenges, but when they can be overcome, the two organizations can emerge better together. Originally published by ASAE: The Center for Association Leadership, July 2020....By: Pillsbury Winthrop Shaw Pittman LLP

Delaware Supreme Court reinstates case alleging fiduciary breach for failure to disclose CEO’s post-merger compensation discussions. Deal negotiators should take care not to negotiate their own post-closing compensation before finalizing deal terms. In general, we do not recommend that officers negotiate their own compensation without the involvement of the board....By: Pillsbury Winthrop Shaw Pittman LLP

Many companies will consider selling their offshore captives/GICs in the wake of COVID-19, especially those in industries hard hit by the pandemic. Large outsourcing vendors are interested in acquiring offshore captives/GICs to secure long-term services agreements with companies....By: Pillsbury Winthrop Shaw Pittman LLP

The IRS issues anticipated guidance providing relief to developers facing delays related to COVID-19. Delayed renewable energy projects that began construction in 2016 and 2017 will now have an additional year to qualify for tax credits under the...By: Pillsbury Winthrop Shaw Pittman LLP

Under the new normal, construction sites will be very different than they were a few months ago. It is important to establish procedures at construction sites to prevent the spread of COVID-19....By: Pillsbury Winthrop Shaw Pittman LLP

Non-essential construction is not presently permitted in Boston, but draft best practice guidelines and an associated contractor certificate identify the way forward for owners and contractors. Non-essential construction is on pause in Boston as of...By: Pillsbury Winthrop Shaw Pittman LLP

On Friday April 17, the federal government (through the Department of Homeland Security’s Cybersecurity & Infrastructure Security Agency, or CISA) updated its guidance on what services should be considered a part of the critical essential...By: Pillsbury Winthrop Shaw Pittman LLP

The amendments will become effective on January 4, 2021, with earlier compliance permitted. The amendments focus on providing material financial and non-financial information regarding guarantees and other credit enhancements applicable to...By: Pillsbury Winthrop Shaw Pittman LLP