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.
General Business and Employer Considerations
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
As of April 8, 2020, in response to the COVID-19 pandemic, the Circuit Court of Cook County has announced that most civil and criminal hearings scheduled to occur between March 17, 2020 and May 18, 2020 (“Interim Period”) will be postponed. Any matters originally scheduled between March 17, 2020 and April 16, 2020 will be postponed for 60 days... Read the full article here.
In response to the COVID-19 pandemic, the United States District Court for the Northern District of Illinois originally extended all deadlines, whether set by the court or otherwise, by 21 days. On March 30, an amended general order extended these deadlines an additional 28 days. Civil case hearings, trials, and settlement conferences scheduled on or before May 1, 2020 are stricken and will be re-set by the presiding judge to a date on or after May 4, 2020... Read the full article here.
As of April 8, 2020, COVID-19 pandemic notwithstanding, the United States Bankruptcy Court for the Northern District of Illinois remains open for business, but not business as usual. There are several significant changes to its daily operations... Read the full article here.
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.
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
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.
State & Local Tax Considerations
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.
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.