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COVID-19 Updates: Baltimore City

July 23, 2020 On July 23, 2020, the Board of Liquor License Commissioners for Baltimore City (BLLC) issued guidance concerning the prohibition on indoor consumption of alcoholic beverages and food at Restaurants and Bars, which is effective at 5:00 pm on July 24, 2020, in light of Mayor Bernard C. “Jack” Young’s Executive Order issued…

Impending Conflicts Created by the Paycheck Protection Program

Clowns Congress to the Left, Jokers the SBA to the Right, Here Business Owners and Banks Are, Stuck in the Middle of Impending Conflicts Created by the Paycheck Protection Program In March 2020, Congressional leaders “got the feeling that something ain’t right.”  Mass hysteria was building and government-imposed quarantines were all but guaranteed.  Health officials…

Co-Tenancy Clauses in a COVD-19/Post-COVID-19 World: Preparing for the “New Normal”

Co-Tenancy clauses have historically been included mainly in leases for mall and shopping center tenants (i.e., retail centers with big-box tenants, such as Dick’s Sporting Goods).  While the landscape for retail shopping center leasing has changed significantly in the years following the economic downturn of 2008, the onset of COVID-19 brings new challenges and considerations…

Office Leasing in a COVID-19/Post-COVID-19 World: Preparing for the “New Normal”

Unlike economic challenges of the past, COVID-19 has immediately and vastly altered the commercial real estate industry on a global scale, and in ways the industry has not previously encountered with the purely economic downturns.  One of the most apparent changes is evident when handling commercial office leasing; read on to better understand what the…

Retail Leasing in a COVID-19/Post-COVID-19 World: Preparing for the “New Normal”

The retail industry has experienced an unprecedented and immediate shift as a result of the economic fallout from COVID-19. One of the most apparent changes is evident when handling commercial retail leasing; read on to better understand what the new commercial standard will be on key retail leasing issues. Definition of Force Majeure Most often…

Navigating Existing “Future Debt Restrictions” After Obtaining PPP Loan

Many businesses that participated in the Paycheck Protection Program (“PPP”) may have inadvertently defaulted on some of their pre-existing credit facilities or outstanding loans. As has become standard within these debt instruments, lending institutions often protect their future income streams with provisions restricting or prohibiting their borrowers from taking on additional debt. Ordinarily, borrowers strictly…

Collection: Tax Collection and the Coronavirus: What Happens After the Pandemic?

This article was originally published in the Journal of Tax Practice and Procedure, Volume 22, Issue 2. I. Introduction The coronavirus (“COVID-19”) has touched all our lives in a profound way. For the first time, we are experiencing stay in place orders, mandatory closing of nonessential businesses and extended periods of time in quarantine. The…

My Business Is In Bankruptcy: Can It Get A PPP Loan Or Not?

In response to the COVID-19 pandemic, Congress enacted a Paycheck Protection Program (“PPP”) under which businesses adversely impacted by the pandemic may obtain loans from the Small Business Administration (“SBA”) and use the proceeds to pay payroll and certain other operating expenses.  If the businesses use the loan proceeds for approved purposes and satisfy certain other criteria for retaining employees, the loans are forgiven.  If the loans are not forgiven, they must be repaid, albeit at a favorable interest rate.

COVID-19 Updates: State of Maryland

June 10, 2020 At yesterday’s press conference, Governor Hogan announced the next phase of the State’s re-opening plan, which includes the following (subject to further restriction by local government):   Subject to limitations (such as 50% capacity), restaurants will be able to re-open to in-door dining effective Friday, June 12 at 5 pm.  Outdoor pools…

Paycheck Protection Program Loans – Loan Forgiveness Made Easier

On Friday, June 5, the President signed into law the Paycheck Protection Program Flexibility Act (the “Act”).  Originally enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the Paycheck Protection Program (“PPP”) provides loans to small businesses for payroll and certain other costs for up…