Rent Cuts and COVID-19
Rent is just one of the costs most businesses face. During the best of times, rent can can be approximately 8% of sales at...
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Colligan Law Insights Archive
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Changes We Are Making Are Long Overdue
Much of what we are implementing to survive this pandemic was long overdue, say many experts, and will remain with us as terrific...
New York State Court System Begins Accepting New Case Filings in Select Upstate Counties
On May 18, 2020, the New York State Court system resumed limited in-person court operations in the 23 counties making up the Finger...
PPP Loans: How to increase your loan for partners and seasonal employers
The Small Business Administration ("SBA") issued a "new interim final rule" (yes, you read that correctly) on May 13th allowing lenders...
New Eviction Restrictions Put in Place Until August 30 But Not All Will Qualify
On March 20, Governor Cuomo issued an initial executive order mandating a 90-day moratorium on evictions. Executive Order No. 202.28,...
NYS Mandates Safety Plans For Reopening Businesses
The New York State Department of Health (DOH) recently announced that, upon reopening, businesses must have written safety plans...
Crowdfunding in a Pandemic
The Securities and Exchange Commission (“SEC”) recently announced that it will ease its crowdfunding regulations in light of the impact...
NY Pause to NY Open. Now What?
Check out the story from Madison Elliot, reporter for Spectrum News. As NY transitions from pause to open, business owners are...
The Race to Own a Vaccine, Drug Treatment: Could You Patent the Sun?
There is a race for a COVID-19 cure, and a race to patent it. A U.S. Patent offers a long period of exclusivity. When a drug company owns...
Will Construction Industry Build a Path to Reopening?
While many of of us have been working from home or not working at all, one sector of the local workforce that has continued to work, at...
Force Majeure Clauses: Contractual Performance Amidst a Pandemic
The following video is a presentation on Force Majeure and contractual performance in the current climate. It includes tips on effective...
COVID 19 Reopening
John has an interesting insight about how prepared the construction industry will be for the NYS Phase I reopening.
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"Generally, the construction industry is better equipped to reopen than a lot of businesses," said John Moscati Jr., a partner at...…
Priority management. Not time.
Before we started living in the upside down of COVID, I had the pleasure of being a guest on VidWheel's smarter business video podcast....
Could an Employee's refusal to return from lay-off or furlough torpedo loan forgiveness?
The short answer is no. Many companies were forced to lay off employees before these PPP loans were available to cover payroll. If the...
NYS Announces "New York Forward" Reopening Plan
New York State recently announced its "New York Forward" plan through which it will reopen. Once again, Colligan Law has summarized the...
Small Business Bankruptcy Just Got Easier
Chapter 11 bankruptcy filings for small and closely held businesses has generally been a lengthy and sometimes costly process....
Congress: We meant loan forgiveness AND tax deductions.
In a previous post, I noted that the IRS issued Notice 2020-32, asserting that company expenses paid with Payroll Protection Program...
M&A in the age of COVID 19
Add another checklist item to your M&A closing checklist-permission to change control from your PPP lender.
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PPP loans we’ve seen include an event of default for the loan where the company “[r]eorganizes, merges, consolidates, or otherwise...…
PPP Loan Forgiven? No Deductions.
When the debt forgiveness was initially proposed for Paycheck Protection Program ("PPP") Loans, there were a couple of questions that...
Employers Must Provide PPE, and Train Employees on Proper Use and Prevention
It is not enough to provide your employees with Personal Protective Equipment (PPE), say workplace safety regulators. The U.S.Department...
Update: NY Nursing Homes and COVID-19 Inspections & Enforcement
“It’s absolutely horrifying,” Mayor Bill de Blasio said. “It’s inestimable loss, and it’s just impossible to imagine so many people lost...
PPP loan impact on mergers and acquisitions.
With so much uncertainty over COVID-19 and the economic fallout, there has been significant hesitation on closing mergers and...
Medical Providers: Terms and Conditions of Receiving Fed Relief Payments for COVID-19 Treatment
The CARES Act allocated $100 billion COVID-19 relief for health care providers. For the past month, the U.S. Department of Health and...
Business success during COVID-19: Restructure or startup?
Small business are faced with a world completely unforeseen just a few short months ago. Despite the government's best efforts, the...
New York State takes next step in reopening the Court System
On Thursday, April 30, 2020, the New York State Unified Court System announced that it was taking the following steps to reopen the Court...
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