Relief for larger businesses due to COVID-19: CARES Act business implications and selected legislative efforts
In the wake of the economic hardship precipitated by the onset of the novel coronavirus (COVID-19), both state and federal legislatures are ramping up efforts to stifle the effects of the pandemic on national and local economies.
In response to the devastating effects of the coronavirus, on March 27, 2020, the federal government urgently passed the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act”), which is the largest economic stimulus package in U.S. history aimed to bolster the U.S. economy by providing over $2 trillion in relief to individuals and businesses affected by the coronavirus.
Relief for small businesses affected by the coronavirus: the SBA’s Economic Injury Disaster Loan Program
The progression of the coronavirus (COVID-19) pandemic continues to have a devastating impact on the global economy, including adversely affecting the business operations and supply chains of the 30 million small businesses in the United States.
The spread of COVID-19 has altered how companies conduct business and highlights the need for flexibility brought about by the uncertainty.
On March 16, Ohio Governor Mike DeWine signed an executive order that will make it easier for some Ohio workers to receive unemployment benefits during the emergency declaration period associated with COVID-19 and will relax some penalties on Ohio employers.
The novel coronavirus (COVID-19) continues to have an unprecedented effect on economies and business operations throughout the world. Although disease outbreaks such as Ebola and Severe Acute Respiratory Syndrome (SARS) have rattled communities and industries in the past, COVID-19 presents economic and transactional challenges on a much larger scale.
On February 18, Tod Northman and Emmanuel Sanders conducted a live Lorman webinar, "Piercing the LLC Veil."
In their recent article for Law360, Daniel Schiau and Tod Northman examine how Delaware corporations can anticipate and fend off shareholder requests to review electronically stored information by diligently maintaining paper corporate records, and how Delaware corporations can dictate the jurisdiction in which they must litigate corporate matters with their shareholders by incorporating forum selection provisions in their corporate documents.