When a private equity (PE) firm acquires a closely held business, it is quite common for the seller to roll over some of its equity into equity in the entity (the “Company”) that is acquiring the business. If the seller has sufficient other assets, the rollover equity can be a very attractive high risk/high reward investment....By: Lathrop GPM
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How is Change in Ownership Defined? On October 2, 2020 the Small Business Administration published SBA Procedural Notice (5000-20057) (the “Notice”), which was effective on that date. The Notice outlines rules that apply to PPP lenders and entities that received Paycheck Protection Program (PPP) funds (“PPP Borrowers”) when there is to be a change of ownership of a PPP Borrower....By: Lathrop GPM
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This Article discusses the effect of COVID-19 and the various ensuing government shutdowns and restrictions (collectively the “Crisis”) on new M&A deals being negotiated after the Crisis. The focus is negotiated transactions in the middle and lower...By: Lathrop GPM
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On January 9, 2020, U.S. Citizenship & Immigration Services (USCIS) formally announced its implementation of a new electronic registration process for cap-subject H-1B petitions. At issue are H-1B cases that are subject to the Congressionally...By: Lathrop GPM
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Ohio Federal Court Awards Damages to Matco for Breach of Contract, Trademark Infringement, and Misappropriation of Trade Secrets - A federal court in Ohio has granted a franchisor’s unopposed motion for summary judgment against a former franchisee,...By: Lathrop GPM
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