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Apr 03, 2020

Inside the CARES Act: COVID-19 Impact Upon Retirement Plans/Accounts

At 880 pages, the Coronavirus Aid, Relief, and Economic Security (CARES) Act covers a lot of ground, offering COVID-19 relief and benefits to a broad swath of the population. Among its significant provisions are those related to workers’ retirement funds. Specifically, the CARES Act makes employee-favorable changes to existing law regarding:

  1. Early Withdrawals;
  2. Loans; and
  3. Required Mandatory Distributions (RMDs)

While a detailed analysis of prior law and all changes made by virtue of the CARES Act is beyond the scope of this blog post, in general terms, the prior guidance and the newly enacted changes are summarized below.» Read More

Apr 03, 2020

COVID-19 and Impracticability and Frustration of Purpose as Defenses to Breach of Contract Claims in Pennsylvania

In addition to any defenses to performance that may exist under force majeure provisions contained in a contract, Pennsylvania courts recognize impracticability of performance and frustration of purpose as defenses to breach of contract claims. However, the availability of impracticability and frustration of purposes defenses in any particular case is dependent upon the language of the contract and the facts and circumstances of the case.» Read More

Mar 24, 2020

First U.S. Business Files Suit Against Insurance Carrier for Losses Resulting From Coronavirus (COVID-19)

On Monday, March 16, 2020, a prominent New Orleans restaurant became the first business nationwide to file suit against an insurance carrier for losses sustained as a result of the novel coronavirus (“COVID-19”). In Cajun Conti, LLC et al. v. Certain Underwriters at Lloyd’s of London, et al.» Read More

Dec 11, 2019

Corporations and LLCs: New Federal Beneficial Ownership Disclosure Requires Reporting to FinCEN

On October 22, 2019, the House of Representatives passed the Corporate Transparency Act of 2019 which requires the U.S. Department of the Treasury within one year to issue regulations to “carry out this Act.”

The Act requires each newly formed corporation and each newly formed limited liability company, unless specifically exempt, to file a report with the Financial Crimes Enforcement Network (“FinCEN”) disclosing the beneficial owners of those entities.» Read More

Mar 12, 2019

Guard Your Data Wisely: How Four Letters Are Changing Everything in Tech

Does your small to mid-size enterprise or start-up company handle the personal information of European Union (“EU”) citizens? Do you have plans to expand your business to handle a wider range of customer personal information in the future? Listen up, because missteps in complying with data privacy laws have huge consequences.» Read More

Sep 21, 2018

Non-Disclosure Agreements

Whether you are selling your business, bringing on an investor, hiring an outsourcing provider, or making some other commercial arrangement, you must think about protecting your business’ confidential information. One way to do this is with a non-disclosure agreement (NDA). Before you speak with someone outside of your company about a possible business relationship, having them sign an NDA will help prevent them from disclosing or using your information, while also permitting you to speak freely with them.» Read More

Sep 04, 2018

To Do Due Diligence: It’s Not Just for Mergers & Acquisitions

Legal due diligence is most often discussed in the context of merger and acquisition transactions.  This makes sense; when a person or business seeks to purchase another business entity, it is prudent to know exactly what is being purchased.  However, due diligence is often overlooked in other, less obvious, contexts.» Read More

Jul 18, 2018

To Our Loyal Economic Development Blog Subscribers

I want to thank you for following our blog and to let you know that we are expanding the focus of this blog to General Business Law.

Through this change, we hope to provide insights into several additional areas of the law such as corporate law, M&A, finance, and regulated industries just to name a few.  » Read More