06Oct
Buchalter COVID-19 Client Alert: SBA Issues New PPP Guidance Regarding Required Approval for a Sale of Assets or Transfer of Ownership of a PPP Borrower; Use of Escrow Accounts to Avoid Requirement of Prior SBA Approval
On October 2, the SBA issued SBA Procedural Notice 5000-20057, Paycheck Protection Program Loans and Changes of Ownership (“Notice”). A link to the Notice is set out below. The Notice sets forth SBA procedural requirements when there is a sale of stock, other transfer of ownership interests, or transfer of assets of a PPP borrower, constituting twenty percent (20%) or more of common stock or other ownership interest, or fifty percent (50%) or more of assets in an asset transfer, or merger of...
By:
Buchalter
Related
In the wake of record-setting volume and value metrics in 2018, practitioners eyed the 2019 deal mar...
Read More >
Poyner Spruill recently prevailed before the North Carolina Court of Appeals. On December 31st, 202...
Read More >
On Tuesday, the U.S. Department of Labor issued its final rule concerning overtime exemptions. The r...
Read More >
On September 14, 2020, Division One of the Washington Court of Appeals provided clarification in the...
Read More >
A federal district court in Pennsylvania held that public policy did not bar termination of a nuclea...
Read More >
On 26 July 2019, the Greek Supervisory Authority (SA) found Pricewaterhouse Coopers (“PwC”) not co...
Read More >