News Topic: COVID-19

On April 9, 2020, the Federal Reserve issued an updated term sheet for the Term Asset-Backed Securities Loan Facility (“TALF”).  Under TALF, the Federal Reserve will make an equity investment of $10 billion in a special purpose vehicle (“SPV”) that will ... Read full article

Over at the Machine Lawyering blog -- organized and edited by the Chinese University of Hong Kong's Law Faculty’s Centre for Financial Regulation and Economic Development -- Slipster Nathalie Martin and I just posted some commentary about our new ... Read full article

Vijay Raghavan , who will be joining the Brooklyn Law School faculty this summer  and his colleague Tom James , shared a troubling observation about the payment of the recovery rebates ("Corona Cash" or "Mnuchin Mnoney") through direct ... Read full article

The COVID-19 pandemic has caused unprecedented economic disruptions worldwide.  Businesses that were previously flourishing are now seeing rapid declines in demand and revenue, disruptions in their supply chains, and other operational interferences.  ... Read full article

Related to Pamela's last post and our article regarding garnishments and the CARES Act "rebates," the US Trustee issued a notice to Chapter 7 and Chapter 13 trustees giving them guidance on what to do about them in a bankruptcy case. ... Read full article

The CARES Act provides for direct "rebate" payments to American households. Treasury is gearing up to send some of those payments out soon. But Congress forgot to protect the payments from garnishment. ... Read full article

On April 3, 2020, the U.S. Department of the Treasury ( Treasury ) and U.S. ... Read full article

On April 2, 2020, the U.S. Small Business Administration ( SBA ) released its Interim Final Rule [1] , which provides further guidance on the Paycheck Protection Program ( PPP ) as enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) ... Read full article

Last week, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law, implementing broad relief for individuals and businesses affected by COVID-19.   One of the sections of the CARES Act receiving less attention is a temporary ... Read full article

On March 16, 2020, California Governor Gavin Newsom released an Executive Order (N-28-20) aimed at protecting renters and homeowners from losing their homes or suffering further financial hardship as a result of the COVID-19 pandemic. ... Read full article

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act” to provide nearly 2 trillion dollars in aid and relief to individuals, businesses, and other entities in the wake of the spread ... Read full article

As confirmed cases of the Covid-19 virus climbed across the country, bankruptcy courts and the U.S. Trustee's office have been seeking ways to adapt to the new normal.  This post will look at how the court system has rolled out its disaster ... Read full article

As the nation hunkers down to combat the novel coronavirus (COVID-19), bankruptcy courts throughout the country have moved quickly to implement procedures to preserve access to the courts while limiting in-person interaction during the crisis.  Each ... Read full article

The COVID-19 pandemic has caused unprecedented economic disruption, creating sudden financial distress across industries. Companies are now facing impacts ranging from a dramatic decline in revenue of uncertain duration, to potential setbacks to M&A ... Read full article

Social distancing.   Elbow bumps.   Flatten the curve.   These are the new phrases and behaviors we have learned to avoid exposure to the novel coronavirus (COVID-19).   This epic struggle forces us to reexamine and reevaluate our daily habits, lifestyles ... Read full article

President Trump has declared a national emergency as a result of the novel coronavirus (COVID-19) pandemic, and more than 30 States have made emergency declarations in response to COVID-19. Governors of the States of California, Washington, Oregon and New ... Read full article

With the World Health Organization declaring COVID-19 a pandemic on Wednesday, March 11, 2020, businesses are likely to continue to feel its effects.  When businesses are unable to perform their contractual obligations as a result of COVID-19, force ... Read full article