06Oct
New PPP Rules Governing M&A Transactions
The Small Business Administration issued long-awaited rules governing lender and borrower obligations when there is a change in ownership of an entity that has received a Paycheck Protection Program (“PPP”) loan. The new guidance, issued on October 2, 2020, eliminates the need for SBA approval for many merger or sale transactions, but injects a host of additional procedural and compliance requirements—including that the outstanding balance of the PPP loan be placed in escrow—that could create...
By:
Bracewell LLP
Source Url: https://www.jdsupra.com/legalnews/new-ppp-rules-governing-m-a-transactions-92154/
Related
On March 23, 2020, Governor Baker issued “an emergency order requiring all businesses and organizat...
Read More >
Or almost everything. Employers, has this ever happened to you? You have a lousy employee, whom we...
Read More >
As of 1 June 2020, a new form of competition law infringement will be enforceable in Belgium*in addi...
Read More >
Prior to the advent of social media and especially the #MeToo movement, employers were generally com...
Read More >
On October 7, the U.S. Supreme Court declined to review the Ninth Circuit’s decision in Robles v. D...
Read More >
In Arizona, non-solicitation agreements may be enforceable if they are “reasonable.” This means em...
Read More >