Blogs

Construction

Updates and Suggestions: Business Interruption Insurance

Business interruption insurance is insurance to cover losses when businesses are unable to operate for reasons outside of their control. Typically, in the commercial real estate context, landlords obligate tenants to carry this insurance and landlords normally carry their own policies as well. The tenant’s policy would protect their business revenue and the landlord’s policy…

March 26, 2020

Business and Financial Services

4 Tips for Businesses Impacted by the Coronavirus

Small businesses across the United States are currently faced with the very real and extreme effects of the Coronavirus on their continued business operations. This unprecedented illness and the resulting drop in substantial revenue of many companies will place great strain on businesses and forcing quick analysis and decision-making about how they are to deal with payment of their current financial obligations considering such falling revenue. While the answer may differ for each business and…

March 24, 2020

Business and Financial Services

Maryland COVID-19 Small Business and Nonprofit Assistance

Maryland has announced a Small Business COVID-19 Emergency Loan Relief Fund (“Loan Relief Fund”) and Small Business COVID-19 Emergency Grant Relief Fund (“Grant Relief Fund”) to support small businesses and nonprofits during the COVID-19 crisis. The Funds assist businesses or nonprofits that can demonstrate financial stress or disrupted operations. Maryland also created a COVID-19 Layoff Aversion Fund (“Layoff Aversion Fund”) to assist small businesses and nonprofits to create remote work…

March 24, 2020

Business and Financial Services

Understanding the Available Tax Credits Under Families First Coronavirus Response Act

The Families First Coronavirus Response Act (“Act”) became law on March 18, 2020. The Act goes into effect on April 2, 2020 and will expire on December 31, 2020. Implications to employers and employees have been covered under separate BKK posts which can be found here . This post will provide employers with guidance on how the tax credits are expected to work. Family and Medical Leave As my colleague Doug Taylor recently discussed , the Act requires certain employers to provide twelve weeks of…

March 23, 2020

Employment Law

COVID-19 FAQS for Employers

As most everyone in the world by now is aware, the Coronavirus Disease 2019 (COVID-19) pandemic is sweeping the United States and rocking the economy. The federal government and nearly all 50 states have declared states of emergency. Many schools and businesses are closed or operating remotely. The pandemic creates unique issues for employers and…

March 19, 2020

Business and Financial Services

Trump Signs Law: U.S. Workers Get Expanded FMLA Leave and Paid Sick Leave

Yesterday, the Families First Coronavirus Response Act (the “Act”) became law when President Donald Trump signed it. The Act will provide significant relief to a wide swath of workers across the country, in response to the COVID-19 public health emergency. In particular, the Act provides millions of U.S. workers with up to twelve weeks of FMLA leave (the “FMLA Expansion Act”), with most of it paid, and as much as two weeks of paid sick leave (the “Paid Sick Leave Act”) for personal or family…

March 19, 2020

Construction

Force Majeure in Commercial Leases: Doctrine of Impossibility and Business Interruption Insurance

My most recent article provided a short explanation of force majeure provisions in commercial leases and how landlords and tenants will need to carefully review the language to determine if any obligations by either party can be excused due to the worldwide coronavirus (COVID-19) pandemic. But as is typical with this crisis, facts on the…

March 18, 2020

Business and Financial Services

House Amendments to Families First Coronavirus Act – Mixed Bag for Employee Leave Benefits

The U.S. House of Representatives passed the Families First Coronavirus Response Act (the “Act”) with bi-partisan support in the wee hours of the morning on Friday, March 14, 2020. The Act provided for expanded FMLA benefits (the “FMLA Expansion Act”), for reasons related to government quarantine orders, employee exposure to the coronavirus, and care of family members who are affected by the coronavirus or resulting school or daycare closures. The Act also provided both full- and part-time…

March 18, 2020

Real Estate

Coronavirus Force Majeure and Real Estate Leases

The coronavirus pandemic will affect us in many ways, and we all must be responsible with public health the primary concern, but what do we do with respect to our binding agreements? What do you do when you simply cannot perform for reasons outside of your control? In this post I will briefly review some actions to take from the perspective of a commercial real estate owner or tenant. In addition to assessing risk, following public directives with respect to employees and limiting liability,…

March 16, 2020

Business and Financial Services

Families First Coronavirus Response Act

Early on Saturday (March 14, 2020) morning, the U.S. House of Representatives passed legislation it dubbed the Families First Coronavirus Response Act (the “Act”), designed to provide significant relief to a wide swath of workers across the country, in response to the COVID-19 public health emergency. Of particular note, the Act would provide the vast majority of U.S. workers with up to twelve weeks of FMLA leave (the “FMLA Expansion Act”) and as much as two weeks of paid sick leave (the “Paid…

March 16, 2020