More News on the PPP Loan Forgiveness
On Sunday, May 17, we issued an update on PPP loans which discussed the change in time frame which would be considered for loan forgiveness. At the same time that this new guidance was issued, the United States Department of the Treasury (USDT) issued additional guidance which clarifies under what circumstances loan forgiveness can be...
Governor Inslee Walks Back Contact Tracing Requirement for Restaurants
On May 15, 2020, within days of announcing a requirement that all restaurants would be required to obtain and maintain contact tracing information for patrons, Governor Inslee quickly withdrew this mandate after widespread concerns that such a requirement would violate patron’s privacy rights. Now, the Governor has indicated that it is only a recommendation that...
SBA Releases New Rules on How to Apply PPP Proceeds in Order to Get Forgiveness
On Friday, May 15, the Small Business Administration (SBA), in consultation with the Treasury Department, issued new guidelines on how employers who have received PPP loan proceeds can apply those loans and still be in compliance with the regulations that will be used to assess whether an employer has met the requirements to receive loan...
PPP Loans: Saved Before the Bell
On Wednesday, May 13, 2020, the Treasury Department, after consultation with the Small Business Administration, issued new guidance regarding good faith certifications for businesses that received Paycheck Protection Loan (PPP) funds. After issuance of multiple statements starting in April, 2020 regarding the impact of accepting PPP funds if a business had access to other sources...
The Ever-Changing Landscape of PPP Loans
On April 23, 2020, in response to the hue and cry from many members of the public that large businesses such as the Ruth’s Chris Steakhouse had received PPP funds, the Small Business Administration announced that large businesses with adequate sources of liquidity would not likely be entitled to the funds through this new program.[1]...
Oregon State Bar: Construction Law Newsletter
NEW RETAINAGE REQUIREMENTS RAISE MORE QUESTIONS THAN ANSWERS Recent amendments to ORS 279C.570 and ORS 701.420 create new requirements for retainage withheld on public and private construction contracts. Effective January 1, 2020, if the contract price exceeds $500,000, the contracting agency, private owner, contractor, or subcontractor must place amounts deducted as retainage into an interest-bearing...
New Proclamation from Washington Governor Establishes Employer Obligations to COVID-19 At-Risk Employees
On April 13, 2020, Governor Inslee issued Proclamation 20-46 High Risk Employees- Workers’ Rights amending his previous February 29, 2020 Proclamation 20-05 which declared the outbreak of COVID-19 a public disaster. According to the new Proclamation, the threat of severe illness or death caused by COVID-19 to Washington State’s public and private sector workers who...
Labor & Employment COVID-19 Updates
The rapid spread of coronavirus has widely affected employers throughout the U.S. We are closely monitoring the developing situation and will offer regular updates on labor and Employment guidelines and mandates. Employers face a multitude of challenges as they navigate through the outbreak of COVID-19 and its effect on their workforce and business. Below we’ve...
CORONAVIRUS-RELATED PAID LEAVE FOR WORKERS AND TAX CREDITS FOR SMALL AND MIDSIZED BUSINESSES
On Friday March 20, 2020, The United States Departments of Treasury, Internal Revenue Service, and the U. S. Department of Labor took action to implement complete federal coverage for small and midsized employers for payments they make to their employees as required by the Paid Sick Leave and expanded paid child care leave under the...
QUARTERLY NEWSLETTER WINTER 2020
OVERVIEW OF POTENTIAL COVERAGE ISSUES IN CLAIM RELATED TO THE CORONAVIRUS PANDEMIC The rapid spread of coronavirus in the United States is causing businesses to shut their doors and people to remain at home as much as possible. In the midst of this truly unprecedented event in recent history, insurers should be prepared for a...
Williams Kastner’s Response to COVID-19 and Our Commitment to You
Our Commitment to Health & Safety While Maintaining High-Level Client Services At Williams Kastner, our firm culture is characterized by quality legal services, teamwork and the trusted relationships we form with our clients and the community. As we monitor and learn more about the spread of Coronavirus, we are committed to prioritizing the health and...
NEW WASHINGTON LAW REQUIRES ACTION ON NON-COMPETITION AGREEMENTS
On May 8, 2019, Washington’s Governor signed legislation which makes significant changes to the law on the enforceability of the non-competition covenants or agreements which employers require their employees to sign.* As a result, effective January 1, 2020 many of the non-competition agreements employers now have with their employees and others, which are governed by...