In Michigan, additional coronavirus relief resources are available through the Michigan Small Business Relief Program established by the Michigan Strategic Fund (MSF) and administered by the Michigan Economic Development Corporation (MEDC) as either loans or grants. Separately from relief offered by the U.S ...
On March 25, 2020, the U.S. Senate voted to approve the Coronavirus Aid, Relief, and Economic Securities (CARES) Act, an economic stimulus package addressing the impact of the COVID-19 pandemic (the “Act”). The U.S. House of Representatives is expected to approve the Act in its current form, with the President signing it into law shortly thereafter ...
Late in the day on March 24, the DOL provided its first round of guidance regarding the Families First Coronavirus Response Act (FFCRA). While the guidanceprovides some clarity for employers, many important questions are left unanswered. When can employees take advantage of the benefits of the FFCRA? The FFCRA takes effect on April 1 and expires on December 31, 2020 ...
On March 25, 2020, the SEC issued an order granting temporary relief from the filing deadlines for certain SEC filings due between March 1, 2020, and July 1, 2020. This order supersedes the SEC’s March 4 order ...
Coronavirus Disease (COVID-19) is affecting companies across the nation and around the world in a variety of ways. Dykema is closely monitoring the legal ramifications of the crisis and evaluating the potential impact on businesses in a wide variety of industries ...
On March 22, 2020, the Federal Reserve Board, the FDIC, the National Credit Union Administration, the Office of the Comptroller of Currency, the Consumer Financial Protection Bureau and state banking regulators (collectively, the “agencies”) published an interagency statement on loan modifications and reporting for financial institutions working with customers affected by COVID-19 ...
Dykema has launched a COVID-19 Resource Center to keep our clients up to date on the most recent legal, business and health guidance surrounding the novel coronavirus and how to navigate their businesses through uncertain times. Various firm practitioners are providing timely content that aims at providing guidance for employer’s current issues as well as those unforeseen items that have yet to arise ...
Federal authorities have recently issued a large number of new policies, guidance, etc., in response to the coronavirus pandemic. These include the following: Flexibility in Submitting Required Signatures on Applications The USCIS has announced it will accept application forms with reproduced original signatures ...
Households and businesses across the country continue to take safety precautions in response to the COVID-19 pandemic. At the same time, the federal government is preparing an unprecedented federal response to the health, safety and economic challenges. In the coming weeks, we expect a wide variety of private businesses to partner with federal agencies and receive funds to address the health crisis ...
On Friday, March 20, 2020, the Department of the Treasury issued Notice 2020-18 (which supersedes Notice 2020-17 issued two days prior), postponing tax filing and payment deadlines for many taxpayers in order to grant some amount of relief to individuals and businesses amid the Coronavirus/COVID-19 crisis ...
On March 23, 2020, in order to curb the spread of COVID-19 in Michigan, Governor Whitmer issued Executive Order 2020-21 (“EO 2020-21”), which orders all Michigan residents to stay at home or in their place of residence unless exempted until April 13, 2020, at 11:59 p.m ...
On March 23, 2020, in order to curb the spread of COVID-19 in Michigan, Governor Whitmer issued Executive Order 2020-21 (“EO 2020-21”), which orders all Michigan residents to stay at home or in their place of residence unless exempted until April 13, 2020, at 11:59 p.m. To this end, EO 2020-21 also orders that no person or entity may conduct a business or conduct operations that require workers to leave their homes or residences unless that entity qualifies for an exemption ...
On Wednesday, March 18, 2020, the Department of the Treasury issued Notice 2020-17, postponing payment deadlines for many taxpayers in order to grant some amount of relief to businesses and individuals amid the Coronavirus/COVID-19 crisis. The Notice provides many taxpayers with the ability to defer federal income tax payments otherwise due by April 15, 2020, but does not postpone or alter the April 15 filing deadline or estimated payments due June 15, 2020 ...
On March 18, 2020, Governor Gretchen Whitmer issued Executive Order 2020-15 which permits all public bodies in the State of Michigan, with the exception of the State Legislature, to meet during the COVID-19 state of emergency (“COVID-19 Emergency”) by electronic means until April 15, 2020 ...
As the coronavirus disease (COVID-19) continues to spread rapidly throughout the United States—and the world—commercial relationships are being thrown into disarray, resulting in the disruption of supply chains, cancellations of events, and closures of restaurants and other businesses. Several states have declared a state of emergency (including banning large group gatherings and mandating that certain business shutter for the time being) ...
On March 14, 2020, the U.S. House of Representatives passed the Families First Coronavirus Response Act (“FFCRA”). While the bill has not yet been passed by the Senate, the White House has indicated that it supports and intends to sign the bill into law once the Senate has an opportunity to address its provisions, which will likely be sometime early this week ...
With many companies facing increased teleworking, supply chain issues, or health uncertainties because of COVID-19, your corporate documents and policies must be ready to address potential issues that arise ...
On March 15, 2020, Governor Whitmer issued an Executive Order, effective 9 a.m. March 16, 2020, through April 13, 2020, imposing two restrictions aimed at preventing price gouging during the COVID-19 emergency. These restrictions, issued pursuant to her powers after declaring a State of Emergency on March 10, 2020, apply to offers or sales of products in Michigan. The first restriction applies only to resales of products acquired from retailers ...
We regularly work with financial institutions to navigate the challenges of implementing, maintaining, and using security procedures for commercial customers’ use of treasury management services. Security procedures are an integral part of the relationship between the financial institution and its commercial customers ...
The coronavirus disease continues to cause headaches for businesses all over the globe. Travel restrictions are leading to cancellations of small meetings and large-scale conferences; factory shutdowns are causing massive supply shortages; employees are being told to stay home from work. Whatever challenges you face in these uncertain times, it is important to remember that your business is not immune from government scrutiny ...
The price of oil—already hammered by market conditions—took another stumble in the wake of the COVID-19 outbreak with no immediate relief in sight. Accordingly, the Oil & Gas Industry must prepare for the looming wave of oncoming legal issues, which will affect every sector of the market. This alert contains recommended actions for industry stakeholders ...
Introduction The supply chain effects from the global spread of the novel coronavirus have been building for nearly two months, and are expected to reach a peak in the near future (if not necessarily then to recede).[1] The effects have centered on China to date, but the epidemic has spread to other centers of production and the duration of its threat to public health and of the governmental and social measures taken to address its spread remains unknown ...
This second alert of a multipart series provides practical tips to minimize legal risk arising from the following legal perils that await any unprepared or ill-informed employer. As the world’s information about the Coronavirus (“COVID-19”) continues to quickly update, employers must remain aware of the many potential legal risks that can rapidly arise when grappling with COVID-19 in U.S.-based workplaces and workforces ...
