The CARES Act, which became the law on March 27, 2020, includes the Paycheck Protection Program (PPP), which is a new loan program created under Section 7(a) of the Small Business Act. The PPP covers the period February 15, 2020 through June 30, 2020 and is a vital lifeline for small businesses suffering the negative economic impact of the COVID-19 pandemic.
COVID-19 AND SBA Economic Injury Disaster Loans
SBA Economic Injury Disaster Loan Seminars Presented by SBA Representatives through April 3, 2020
New Jersey Fast-Tracks Licensure of Out-of-State Medical Professionals in Response to the Escalating COVID-19 Crisis
By Richard A. West
Last week, New Jersey Attorney General Grewal announced a temporary waiver of certain regulatory requirements to facilitate the licensure of out-of-state medical practitioners, in anticipation of high demand for healthcare services throughout the state as the COVID-19 crisis escalates.
Coronavirus and Business Interruption Coverage: A Realistic Assessment
By Steven R. Rowland and Kenneth L. Moskowitz
Most insurance policies, including business interruption policies, use standardized language drafted by an insurance industry trade group that define coverage through an initial grant of coverage and exclusions that narrow the initial grant of coverage by excluding certain kinds of risk that may otherwise be covered.
COVID-19 Crisis and Force Majeure Clauses
By Stuart M. Brown, Kristina R. Brown, Norman D. Kallen
As a result of the ever-expanding response to the coronavirus health emergency, government entities across the United States and globally are imposing restrictions to curb the spread of the virus and contain the epidemic. The closures and bans are affecting businesses, commerce and commercial transactions everywhere, including within the State of New Jersey.
COVID-19 Business Sustainability Checklist
Our world has changed suddenly and BMK is responding and is prepared to meet your needs. As your trusted advisors, we are ready to leverage our expertise, experience and strategic alliances to provide needed counsel in these trying times.
BMK Of Counsel Daniel M. Stolz Quoted by Media in Two Recent Bankruptcy Matters
Brown Moskowitz & Kallen Of Counsel Daniel M. Stolz was recently quoted in the news media with regard to two client bankruptcy matters.
Moskowitz, Rowland article, “NJ DOL Takes Aim at the Independent Contractor Model of Business” publishes in Sobel & Co. Points of Fact newsletter, September 2019
Brown Moskowitz & Kallen partners Kenneth L. Moskowitz and Steven R. Rowland recently collaborated on an article that published in the 2019 “Points of Fact” newsletter produced by certified public accounting and consulting firm Sobel & Co.
BM&K Hosts Breakfast Seminar for Financial Professionals with Economists Weinberg, O’Sullivan
Brown Moskowitz & Kallen Hosts Client Briefing with Economists Weinberg, O’Sullivan The podcast is also available on your phone on the Apple podcasting app: https://podcasts.apple.com/us/podcast/podcasting-with-john-metaxas/id1451428833#episodeGuid=tag%3Asoundcloud%2C2010%3Atracks%2F686304568 John Metaxas is an anchor and reporter with WCBS and Bloomberg. He is the founder of WallStreetNorth Communications — wallstreetnorth.com. Its signature service is Podcasting for Lawyers.
Pulling Back the Legal Curtain
(published on LinkedIn July 16, 2019)
Fact, you have a great group of advisors who are there for you. One morning, you are pleasantly surprised when you are contacted by a credible third party who is interested in buying your company for a substantial sum and she presents you with a letter of intent (LOI). You read it through carefully and you contact the buyer to let her know that you are all set to go, but you just want to run it by your lawyer first. You tell her, “No big deal, I just want his quick review… I’ll have it to you by noon.” You email this message to her at 6:45 p.m., just before you leave for the night. The last thing you do before leaving your office is send the LOI to your attorney, asking him to review it so that you can sign it and send it to the buyer by noon on Tuesday (of course, it is now 7:00 p.m. on Monday night).
Your lawyer wants to please you, trust me, he does. Clearly, he has been waiting all day for your email. In fact, when he woke up on Monday morning, he had a feeling that you would get an unsolicited offer to sell your business and that he would have to review the LOI quickly. If it is not obvious, the last two sentences were written sarcastically.
Successful transactions require all parties to set reasonable expectations. If your attorney had nothing to do and was just waiting around for your email, you probably should switch attorneys. Most of us are busy — very busy — and that’s the way you want it: this means that we are in demand, working with clients on matters similar to yours. What we learn on a daily basis can then be applied to your matters for your benefit.
The lesson here — be realistic. You cannot reasonably anticipate that your attorney will be able to drop everything for you, review, analyze and potentially revise a significant document like an LOI “overnight.” If unreasonable expectations are set, everyone will be subject to unnecessary stress, impeding the ability to focus. In fact, the process will take longer under those circumstances.
Speak with your attorney, explain your needs and your wants (two different things) and discuss when you can reasonably expect the work product. It will result in a less stressful process, a better work product and get you to the finish line more quickly.