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Banking, Finance & Tax
Though the Federal Reserve has taken immediate measures to mitigate the damage the pandemic may cause to the economy, our experience tells us that businesses need to be prepared to deal with a multitude of issues, including drawing on lines of credit, refinancing fixed rate debt to take advantage of lower interest rates, avoiding defaults and covenant violations, non-renewals of revolving lines, appointment of receivers and loan workouts. Whatever you face, KJK’s Banking & Finance Coronavirus Response Team is here to help.
Gov. DeWine Announces COVID-19 Relief for Small Businesses, Individuals
By Stephanie Mercado With a year-end deadline looming to spend Coronavirus Aid, Relief and Economic Security (CARES) Act funding provided by the Department of Treasury, Gov. Mike DeWine announced several new programs Friday aimed at helping Ohio residents and businesses recover from the pandemic....
CDC Issues New Definition of “Close Contact” to COVID-19: Key Take-Aways for Employers
By Alan Rauss & Janet Stewart On Oct. 21, 2020, the Center for Disease Control (CDC) released a new definition for the term “close contact” as it relates to contact with a person infected with COVID-19 and the resulting quarantine period. Notably, the new definition, in practice, represents a...
COVID-19 and Guests: The Campus Dilemma
By Susan Stone & Kristina Supler The late 19th Century American novelist E.W. Howe once remarked: “[t]o be an ideal guest, stay at home.” How completely prophetic! Ironically, E.W. Howe’s life coincided with the Spanish flu epidemic. However, this quote likely referenced that guests can...
Consumer Report Alleges Amazon Marketplace Price Gouging
By Jon Groza & Kyle Stroup As the COVID-19 pandemic swept the country in the spring, consumer demand shifted. While grocery store shelves became barren, consumers looked to e-commerce marketplaces to purchase essential items such as personal protective equipment, necessary household items and...
SBA Issues Guidance for Changes of Ownership of PPP Borrowers
By Kevin O'Connor & Jennifer Hart The Small Business Administration (SBA) recently released a Procedural Notice concerning changes of ownership for Paycheck Protection Program (PPP) loan borrowers (the “Notice”). Since the first days of the PPP loan program, borrowers and their advisors have...
DOL Issues Field Assistance Bulletin Regarding Telework
By Rob Gilmore & Kirsten Mooney On August 24, 2020, the Department of Labor’s Wage and Hour Division (WHD) issued Field Assistance Bulletin No. 2020-5 regarding employers’ continuing obligations to track employees’ telework hours. In a time where telework is becoming more and more common,...
MI Supreme Court: Governor’s Executive Power re: COVID Expired in April
By Samir Dahman Last Friday, the Michigan Supreme Court voted 4-3, along partisan lines, that Democratic Governor Gretchen Whitmer’s executive orders in response to the COVID-19 pandemic are effectively invalid. You can read the full 107 page opinion here. Summary The Emergency Powers of the...
COVID Travel Shaming: 99 Problems and a Beach IS One
Susan Stone & Kristina Supler Remember when you couldn’t contain your excitement over sharing plans for your upcoming vacation with coworkers and friends? Or the thrill of posting travel highlights on social media – and making everyone a little jealous? Adios, beaches. My, how the tides have...
Do Employers Have to Offer Remote Work? EEOC Says No.
By Rob Gilmore & Alexis Preskar As employers begin reopening workplaces, the EEOC has come out with new guidance on providing telework options. The specific question asked for guidance if an employer had allowed telework to slow the spread of COVID but was now reopening the workspace. In that...
DOL Issues New Regulations for FFCRA
By Alan Rauss & Kirsten Mooney The U.S. Department of Labor has issued a much anticipated set of regulations regarding the Families First Coronavirus Response Act (FFCRA). The regulations attempt to revise several provisions of the DOL’s original rule that New York District Court Judge Paul...
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If you have specific questions about any of the information in our articles, please reach out directly to the author or contact the Chair of the Banking & Finance Response Team, John Archer.
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John Archer
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Scott Norcross
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Anne Corrigan
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Peggy Beistel
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Samir Dahman
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