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Coronavirus (COVID-19) Updates and Resources

05/26/2020

The ongoing issues related to the spread of the Coronavirus (COVID-19) have had and will continue to have a significant impact on individuals, families, businesses and markets.

To better address the multifaceted and fluid effects of this pandemic, HMB has formed a COVID-19 Business Emergency Response Team. This multi-disciplinary team of attorneys will address key issues related to business and finance, state and local tax, litigation, workouts and bankruptcy, intellectual property, trusts and estates and real estate. We will continue to monitor external resources, synthesizing information into actionable advice, driven to provide you better resources as we work through emerging issues together.

Please continue to reach out to your HMB team member to answer specific questions and connect you with the right resource.

COVID-19 Federal & State Updates – Live Doc

Follow all federal and state updates in real-time. Bookmark HMB’s live google doc here.

HMB State & Local Tax Filing Guidelines for COVID-19

As states respond to COVID-19, HMB’s SALT team is regularly tracking updates here.

General Business and Employer Considerations

5/14/20 - EMPLOYMENT WEBINAR: PREPARING FOR EMPLOYEE COVID-19 CLAIMS

As Illinois and other states begin to rollback stay-at-home orders, employers need to be prepared for employee COVID-19 claims. Please join us on 5/14 at 12:00PM CST for a 45 minute discussion on how to prepare your business to manage COVID-19 in the workplace. The discussion will include guidance on what to do when an employee notifies you that they have COVID-19, calls in sick claiming to have COVID-19, when an employee has been exposed to COVID-19 and business considerations for employment policies, contracts and insurance in light of COVID-19. Register for the event here 

5/1/20 - WORK FROM HOME INSURANCE ALERT

Many current businesses own cyber insurance policies that actually may not cover incidents or claims that are the result of an employee using his/her own personal device(s) for Work From Home (“WFH”) purposes for their employer....Read the full article here.

4/29/20 - DIDN’T GET AN ILLINOIS ADULT-USE CANNABIS DISPENSARY LICENSE…CAN YOU CHALLENGE?

While the Illinois dispensing conditional licenses have not been awarded yet, we are hopeful they are coming soon. That being said, here are the two questions I get asked most about the current Illinois dispensing license applications...Read the full article here. 

4/28/20 - ADDITIONAL ILLINOIS AND FEDERAL EMPLOYMENT UPDATES REGARDING THE FAMILIES FIRST AND CORONAVIRUS RESPONSE ACT AND OTHER MATTERS - EMPLOYMENT UPDATE

After initially voting 9-0-1 to approve a new emergency rule that created a rebuttable presumption that the workplace is the cause of an employee contracting COVID-19 to the extent such employee works for an essential business, the Illinois Workers’ Compensation Commission (the “Commission”) met yesterday, April 27, to formally withdraw the rule...Read the full article here.

4/8/20 - U.S. DEPARTMENT OF LABOR ISSUES TEMPORARY REGULATIONS TO IMPLEMENT FAMILIES FIRST CORONAVIRUS RESPONSE ACT, NEW OSHA POSTER AND UPDATES REGARDING EXPANDED ILLINOIS UNEMPLOYMENT BENEFITS - EMPLOYMENT UPDATE

On April 1, 2020, the U.S. Department of Labor (“DOL”) issued temporary regulations (the “Rule”) to implement the Families First Coronavirus Response Act (“FFCRA”), providing additional guidance to employers and employees on how to provide and take expanded family and medical leave or paid sick leave (collectively, “Leave”) under the FFCRA...Read the full article here. 

4/1/20 - PAYROLL PROTECTION LOAN PROGRAM UPDATE - EMPLOYMENT UPDATE

The Small Business Administration has released the application for the Paycheck Protection Program and loans available pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)...Read the full article here. 

4/1/20 - FAMILIES FIRST CORONAVIRUS RESPONSE ACT: DEPARTMENT OF LABOR PROVIDES ADDITIONAL GUIDANCE - EMPLOYMENT UPDATE

The Families First Coronavirus Response Act (the “FCCRA”) was signed into law on March 18, 2020.  Since then, questions as to scope and applicability have been raised by employers and employees alike...Read the full article here.

3/27/20 - CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT)

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is Congress’s initial economic stimulus plan in response to the coronavirus pandemic and was signed into law today, March 27th. The $2 trillion package provides relief to businesses, individuals, families, the healthcare system, states and more...Read the full article here.

3/26/20 - CANNABIS BUSINESSES CURRENTLY INELIGIBLE FOR CORONAVIRUS DISASTER RELIEF

On Monday March 23, the federal Small Business Administration (SBA) confirmed that cannabis businesses are ineligible for disaster relief loans to assist with the detrimental effects of the Coronavirus outbreak... Read the full article here.

3/26/20 - NOTICES REQUIRED UNDER THE FAMILIES FIRST CORONAVIRUS RESPONSE ACT

On March 18, 2020, the President signed the Families First Coronavirus Response Act (the “Act”).  Yesterday, the U.S. Department of Labor provided sample posters for private and public employers to post prior to April 1, 2020... Read the full article here.

3/23/20 - NON-PERFORMANCE OF CONTRACTUAL OBLIGATIONS DURING THE COVID-19 PANDEMIC

The economic uncertainty caused by the outbreak of the COVID-19 pandemic has impacted businesses and commercial relationships worldwide.  As COVID-19 continues to spread, businesses may experience disruptions that make it difficult or impossible to fulfill their contractual obligations... Read the full article here.

3/23/20 -ARE COVID-19 LOSSES COVERED BY BUSINESS INTERRUPTION INSURANCE?

Covid-19 is disrupting businesses, their supply chains and their customers and causing major losses. Governors of Illinois, California, New York and Pennsylvania have issued “stay at home” and similar orders impacting employees and many businesses. Are any of these losses covered by insurance? The answer is maybe... Read the full article here.

3/20/20 - ILLINOIS GOVERNOR ISSUES EXECUTIVE ORDER REQUIRING INDIVIDUAL TO STAY AT HOME

Governor Pritzker issued an Executive Order in response to COVID-19 (No. 8). The Order is effective as of 3/21/20 at 5:00 p.m. through 4/7/20. The Order provides that ll individuals in Illinois are to stay at home or at their place of residence, except as allowed by the Order... Read the full article here.

3/19/20 - FAMILIES FIRST CORONAVIRUS RESPONSE ACT - EMPLOYMENT UPDATE

On 3/18/20, the President signed the Families First Coronavirus Response Act. Employers with fewer than 500 employees and covered public sector employers must provide up to 12 weeks of FMLA leave for a qualifying need related to a public health emergency to employees who have been on the payroll at least 30 calendar days (including full time and part-time employees)... Read the full article here.

3/17/20 - COVID-19 GUIDANCE FOR ILLINOIS EMPLOYERS - EMPLOYMENT UPDATE

The novel coronavirus (COVID-19) is spreading across the globe and we wanted to assist you in considering all risk assessment and mitigation tools available. We recommend assembling a management team to determine best next steps and implement an emergency plan...Read the full article here.

Litigation & Bankruptcy Considerations

5/15/20 - PROCEDURES OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS DURING THE CORONAVIRUS CRISIS

The COVID-19 pandemic notwithstanding, the United States Bankruptcy Court for the Northern District of Illinois remains open for business, although not business as usual. Recognizing the need to maintain social distancing, the Court has made several significant changes to its daily operations... Read the full article here.

5/6/20 - PROCEDURES OF THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS DURING THE CORONAVIRUS CRISIS

The COVID-19 pandemic notwithstanding, the United States Bankruptcy Court for the Northern District of Illinois remains open for business, although not business as usual. Several significant changes to its daily operations remain in place... Read the full article here.

5/4/20 - PROCEDURES OF THE CIRCUIT COURT OF COOK COUNTY DURING THE CORONAVIRUS

As of May 4, 2020, in response to the COVID-19 pandemic, the Circuit Court of Cook County has announced that most civil and criminal matters will be postponed for a period of 30 days from the currently scheduled court date or a date not more than 30 days after May 31, 2020... Read the full article here.

5/1/20 - OUT-OF-COURT DISTRESSED ASSET PURCHASES – WHAT YOU NEED TO KNOW

The COVID-19 pandemic has impacted businesses and commercial relationships worldwide, cutting wide swaths of through entire sectors of the economy.  The current government regime of subsidizing whole industries and individual businesses is still evolving...Read the full article here.

5/1/20 - NEW SUBCHAPTER V OF THE BANKRUPTCY CODE MAY BE THE SALVATION FOR SMALL BUSINESSES TO SURVIVE COVID-19

The Small Business Reorganization Act (SBRA) was enacted in February 2020 with no one anticipating the global pandemic. Today, the financial consequences have hit small businesses hard...Read the full article here.

4/6/20 - BANKRUPTCY IN THE TIME OF CORONAVIRUS

The Coronavirus crisis has arrived. This global pandemic has placed a hard stop on economic activity across the board, sending markets into freefall and skyrocketing unemployment claims to unprecedented heights...Read the full article here.

3/23/20 - ZONE OF INSOLVENCY AND FIDUCIARY DUTIES - A BRIEF SUMMARY OF WHAT DIRECTORS AND OFFICERS NEED TO KNOW

The outbreak of the COVID-19 pandemic has impacted businesses and commercial relationships worldwide. As commercial operations continue to be shuttered and revenues cut off, principals of companies will likely find themselves questioning where their obligations and responsibilities lie when the entity’s solvency is questionable... Read the full article here.

Private Client, Trusts & Estates Considerations

3/27/20 - AN ESTATE PLANNING CHECK-UP IN LIGHT OF COVID-19

As we hunker down during COVID-19, here are seven tips to make sure your estate plan is in good health... Read the full article here.

Real Estate Considerations

5/5/20 - RESTRICTIONS ON COMMERCIAL EVICTIONS

Illinois Governor J.B. Pritzker’s Executive Order 2020-30 issued on April 23, 2020 in response to the COVID-19 pandemic offers relief to commercial tenants throughout the state by placing restrictions on evictions of commercial tenants...Read the full article here.

4/13/20 - IRS GRANTS EXTENSIONS FOR LIKE-KIND (SECTION 1031) EXCHANGES

In Treasury Department Notice2020-23 (released April 9, 2020) and Internal Revenue Service update to Notice2020-18, the IRS provided additional relief for taxpayers amid the COVID-19 crisis by extending key deadlines for Like-Kind (Section 1031) Exchanges...Read the full article here.

State & Local Tax Considerations

4/27/20 - JORDAN M. GOODMAN PROVIDES INSIGHT ON STATES CONSIDERING GROSS RECEIPTS TAXES IN ORDER TO COPE WITH VIRUS IMPACT TO BLOOMBERG LAW TAX

An article published by Bloomberg Law Tax discusses the possible reemergence of Gross Receipts Taxes in states due to the COVID-19 pandemic. Gross receipts taxes are becoming attractive because they rely on calculations of total commercial activity rather than profitability...Read the full article here.

3/20/20 - CHICAGO MAYOR ANNOUNCES PAYMENT EXTENSION FOR LOCAL TAXES - STATE & LOCAL TAX UPDATE

On 3/19/20, Chicago Mayor Lightfoot announced that the City of Chicago will extend the due date for “small businesses” to pay the following Chicago taxes to 4/30/20: Bottled Water Tax, Checkout Bag Tax, Amusement Tax, Hotel Accommodations Tax, Restaurant Tax and the Parking Tax... Read the full article here.

Additional Resources

Centers for Disease Control and Prevention - Coronavirus information

World Health Organization - Coronavirus information

Small  Business Association - Disaster Loan Assistance

City of Chicago Coronavirus Response Center

HMB is a member of the Law Firm Alliance, an international network of mid-sized law firms helping to connect our clients with the collective expertise of trusted colleagues. Please feel free to access the knowledge base of our partner firms, listed here by region.

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