07Oct
Alert "SBA Issues Guidance On PPP Borrower Changes Of Ownership"
On October 2, 2020, the Small Business Administration (SBA) published guidance on when SBA consent must be obtained before a PPP borrower undergoes a change of ownership. It not only covers changes in controlling ownership interests and certain asset sales but also could apply to redemptions of existing minority owners by PPP borrowers, and to buyouts of minority owners by other existing owners. There is potential for significant delay and disruption of deal structures. The new guidance could...
By:
Porter Hedges LLP
Related
I’m not a fan of annuities, especially in 401(k) plans. Yet, it seems that the insurance industry g...
Read More >
After postponing the licensing of insolvency practitioners due to COVID-19, the licensing regime and...
Read More >
As expected, California's governor has signed off on AB 5, a law making it harder for most employers...
Read More >
This first known decision interpreting the statute clarifies the consequences of an Owner’s failure...
Read More >
If January's minimum wage, tip, and overtime developments forecast what employers should expect thro...
Read More >
1. What constitutes sexual harassment? As per Republic Act No. 7877,1 work, education or training-...
Read More >