In the last week, as the U.S. Small Business Administration (“SBA”) prepared for additional Paycheck Protection Program (the “Program” or “PPP”) funding and began accepting—for the second time—applications from participating lenders, the SBA issued a series of new guidance materials related to Program eligibility, fund accessibility, and loan amount calculations.
Client Alert | April 29, 2020
Gibson Dunn lawyers describe the various government entities that will oversee and investigate the use of CARES Act funds.
Client Alert | April 24, 2020
On April 20, 2020, the governors of Colorado and Georgia announced plans to begin easing the restrictions the states imposed in response to the outbreak of COVID-19.
Client Alert | April 22, 2020
Gibson Dunn lawyers review the various state and local government orders in California pertaining to the COVID-19 pandemic and the associated uncertainty for businesses, as of April 20, 2020.
Client Alert | April 20, 2020
Across the country, government officials at various levels of state, federal, and local government have disagreed about how to respond to the COVID-19 pandemic. Gibson Dunn lawyers examine the implications for businesses operating in New York City of potential conflicting orders from local and state governments.
Client Alert | April 18, 2020
In a previous alert, we discussed the constitutional principles governing legislative responses to COVID-19 under the Takings, Contracts, Due Process, and Equal Protection Clauses of the U.S. Constitution. Here, Gibson Dunn applies those principles to proposals currently being debated in state legislatures that would provide broad residential and commercial rent and mortgage relief.
Client Alert | April 15, 2020
On April 9, 2020, the New York State Development Corporation (“ESD”) further updated its guidance for determining whether businesses are “essential” and therefore exempt from the in-person workforce restrictions established in Governor Cuomo’s March 20, 2020 “New York State on PAUSE” Executive Order (EO 202.8). That March 20 order required all non-essential businesses keep 100 percent of their workforce at home. These updates, which we review in this alert, demonstrate that ESD is continuing to evolve the breadth and depth of its guidance on what constitutes an essential business. It is therefore critical that businesses continue to stay apprised of the latest developments.
Client Alert | April 10, 2020
On April 8, 2020, the U.S. Small Business Administration (SBA) published a memorandum and new Frequently Asked Questions clarifying the size standards and affiliation rules applicable to the Paycheck Protection Program (PPP).
Client Alert | April 9, 2020
On April 9, 2020, the Federal Reserve announced that it would establish two new facilities to promote lending to businesses with up to 10,000 employees or up to $2.5 billion in 2019 annual revenue. The Federal Reserve also announced a lending facility for depository institutions that originate loans under the CARES Act’s Paycheck Protection Program (PPP).
Client Alert | April 9, 2020
On March 17, 2020, Alex Azar, Secretary of Health and Human Services, issued a Declaration activating the Public Readiness and Emergency Preparedness Act (PREP Act, extending immunity “from suit and liability under federal and state law with respect to all claims for loss caused by, arising out of, relating to, or resulting from” administration or use of qualifying products used to combat or reduce the spread of COVID-19.
Client Alert | April 6, 2020
The U.S. Small Business Administration (“SBA”) published an interim final rule on affiliation (the “Affiliation IFR”) a summary of affiliation tests (the “Summary”), a lender application form and agreement, and FAQs, with respect to, the Paycheck Protection Program (the “Program” or “PPP” and such rule, the “Rule”).
Client Alert | April 4, 2020
On April 2, 2020, the U.S. Small Business Administration published an interim final rule regarding, and a “final” form application with respect to, the Paycheck Protection Program.
Client Alert | April 3, 2020
As the coronavirus (COVID-19) pandemic continues, state and local jurisdictions across the country have issued unprecedented directives restricting in-person business operations in order to minimize the spread of the virus. New York and California illustrate two differing approaches to this novel issue.
Client Alert | April 2, 2020
On March 28, 2020, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) revised its list of “Essential Critical Infrastructure Workers,” which provides expressly non-binding guidance to state and local authorities on identifying their essential workforce during the COVID-19 pandemic.
Client Alert | April 1, 2020
On March 31, 2020, the Small Business Administration (SBA) and U.S. Department of the Treasury published guidance on the Paycheck Protection Program (PPP), including an application form and related instructions.
Client Alert | April 1, 2020
On March 29, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“ CARES ACT”), a $2.2 trillion stimulus package designed to mitigate the effects of the novel coronavirus (“COVID-19”). The ACT provides, among other things, unprecedented economic assistance to millions of Americans and small and distressed businesses.
Client Alert | March 31, 2020
We have received many questions about aid to small businesses and non-profit organizations in the New York tri-state area. Below please find a compilation of Federal and state-specific resources that are available to assist eligible small businesses and non-profit organizations in the New York tri-state area related to the COVID-19 pandemic.
Client Alert | March 31, 2020
Gibson Dunn lawyers discuss how the Small Business Administration provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as passed by the Senate on March 25, 2020, will impact businesses.
Client Alert | March 27, 2020
Gibson Dunn lawyers discuss the constitutionality of proposed and actual legislative and executive action during the COVID-19 pandemic.
Client Alert | March 27, 2020
On March 27, 2020, the New York State Empire State Development Corporation (ESD) revised its guidance for determining whether businesses are “essential” and therefore exempt from the in-person workforce restrictions under Governor Cuomo’s March 20, 2020 “New York State on PAUSE” Executive Order (EO 202.8), which requires that all non-essential businesses keep 100 percent of their workforce at home.
Client Alert | March 27, 2020
On Friday, March 27, 2020, Congress passed and President Donald Trump signed into law the third major piece of legislation intended to address the economic impact of the coronavirus (COVID-19) outbreak.
Client Alert | March 27, 2020
Governments of many EU Member States – as well as the European Commission - have announced special measures to support businesses affected by the COVID-19 pandemic. Gibson Dunn identifies some of the key fiscal measures being put in place by the governments of the UK, France and Germany to help companies manage their cash flows during these times.
Client Alert | March 27, 2020
Gibson Dunn provides a comprehensive look at the CARES Act passed by the Senate on March 25, 2020, the largest emergency stimulus package in United States history.
Client Alert | March 26, 2020
Gibson Dunn lawyers provide an update as of March 24, 2020 on actions by the New York State government to enforce Governor Cuomo's March 20 executive order restricting business activity.
Client Alert | March 24, 2020
Gibson Dunn lawyers provide an update on a $1 trillion stimulus package introduced in the U.S. Senate on March 19, 2020, to address significant economic concerns surrounding the COVID019 pandemic.
Client Alert | March 20, 2020
In a press conference held on the morning of March 20, 2020, New York Governor Andrew Cuomo announced that he would be signing an executive order requiring businesses—with the exception of those providing “essential” services—to keep 100 percent of their workforce at home, effectively shuttering any non-essential business whose workforce cannot work from home.
Client Alert | March 20, 2020
Gibson Dunn lawyers review the U.S. federal government's response to the COVID-19 outbreak as of March 18, 2020.
Client Alert | March 18, 2020
The Round-Up summarizes recent key developments from the New York State Department of Financial Services (DFS) as of February 2020.
Client Alert | February 24, 2020
Mylan Denerstein, Akiva Shapiro and Lee Crain discuss developments surrounding the New York State legislature taking up the issue of mobile sports betting during its 2020 session.
Client Alert | February 4, 2020
On the day that the United Kingdom officially leaves the European Union, January 31, 2020, Gibson Dunn lawyers provide an overview of the key issues and Brexit's future implications.
Client Alert | January 31, 2020
Gibson, Dunn & Crutcher LLP is pleased to announce that Roscoe Jones, Jr. has joined the firm as counsel in its Washington, D.C. office. Jones focuses his practice on advising clients on various public policy matters.
Press Releases | December 17, 2019
In November 2019, the New York State Department of Financial Services (DFS) proposed a new regulation allowing regulated entities to share “confidential supervisory information” with their legal counsel and independent auditors without first obtaining approval from DFS.
Client Alert | November 22, 2019
Gibson Dunn lawyers provide a series of questions and answers regarding impeachment, in light of the 2019 House impeachment inquiry into President Donald Trump.
Client Alert | November 13, 2019
In early November 2019, New York Governor Andrew Cuomo signed a new measure lengthening the statute of limitations period for public water suppliers to sue for water contamination.
Client Alert | November 13, 2019
Last week, the New York State Legislature passed the Climate Leadership and Community Protection Act, Senate Bill S6599 (“CLCPA”). It is considered to impose “the most aggressive legal mandate in the country” for emissions reduction.
Publications | June 25, 2019
Late last year, the U.S. House of Representatives passed H.R. 4010, the Congressional Subpoena Compliance and Enforcement Act of 2017 (the "Bill"). The Bill seeks to strengthen Congressional subpoena enforcement power by: (1) codifying the subpoena enforcement power and process in statute; (2) expediting litigation arising from non-compliance with the subpoena; (3) codifying a court's power to levy financial penalties against the head of a U.S.
Client Alert | July 9, 2018
The past year has seen an explosion in virtual currency offerings, as well as significant legal and regulatory developments as U.S. regulators have tried to keep pace with the industry.
Webcasts | June 27, 2018
On May 8, 2018, President Donald Trump announced his decision to abandon the 2015 Iran nuclear deal—the Joint Comprehensive Plan of Action (the "JCPOA")—and re-impose U.S.
Client Alert | May 9, 2018
On September 5, 2017, the Trump Administration announced the termination of the Deferred Action for Childhood Arrivals program ("DACA"). Attorney General Jeff Sessions announced the Administration's decision in remarks delivered on Tuesday morning. Acting Secretary of Homeland Security Elaine Duke subsequently issued a memorandum formally rescinding the program, after which the White House issued a separate statement explaining President Trump's decision.
Client Alert | September 5, 2017
Gibson Dunn previously issued several client alerts regarding President Trump's January 27, 2017 and March 6, 2017 Executive Orders restricting entry into the United States for individuals from certain nations and making other immigration-related policy changes.
Client Alert | June 29, 2017
For the fourth successive Congress, we are releasing a table of authorities that summarizes the investigative authorities and powers of each House and Senate committee. We believe that understanding a committee's investigative powers is crucial to successfully navigating a congressional investigation. Congressional committees have the power to issue subpoenas to compel witnesses to produce documents, testify at committee hearings, and, in some cases, appear for depositions. Moreover, standing committees may appeal to the full House or Senate to hold in contempt any witness who refuses to appear, answer questions, or produce documents, though note, of course, that Constitutional protections apply to witnesses in congressional investigations.
Client Alert | June 1, 2017
Gibson Dunn previously issued several client alerts regarding President Trump's January 27, 2017 and March 6, 2017 Executive Orders restricting entry into the United States for individuals from certain nations and making other immigration-related policy changes.
Client Alert | March 16, 2017
Gibson Dunn previously issued several client alerts regarding President Trump's January 27, 2017, Executive Order restricting entry into the United States for individuals from certain nations and making other immigration-related policy changes.
Client Alert | March 7, 2017
On Monday, January 30, 2017, Gibson Dunn issued a client alert regarding President Trump's January 27 Executive Order restricting entry into the United States for individuals from certain nations, and making other immigration-related policy changes.
Client Alert | February 10, 2017
Last Friday, February 3, 2017, President Trump took two executive actions relating to U.S. financial markets and institutions. First, the President issued an executive order titled "Core Principles for Regulating the United States Financial System." The Executive Order articulates "core principles" with respect to financial regulation and directs the Secretary of the Treasury to advise the President within 120 days of actions being taken to promote those principles and to identify legal requirements that are inconsistent with the principles.
Client Alert | February 6, 2017
On Monday, January 30, 2017, Gibson Dunn issued a client alert regarding President Trump's January 27 Executive Order restricting entry into the United States for individuals from certain nations and making other immigration-related policy changes.
Client Alert | February 1, 2017
On January 30, 2017, President Trump signed an executive order entitled "Reducing Regulation and Controlling Regulatory Costs." As the title suggests, the order is intended to reduce the burden imposed by federal regulations and establish a cap on the costs that such regulations impose on the United States economy.
Client Alert | January 31, 2017
On January 27, 2017, President Trump issued an Executive Order entitled "Protecting the Nation from Foreign Terrorist Entry into the United States."
Client Alert | January 30, 2017
In the wake of the 2016 U.S. presidential election, this alert discusses tools available to President-elect Trump to implement his campaign positions, as well as their likely efficacy and limits.
Client Alert | November 30, 2016
On September 28, 2016, the U.S. Congress voted to approve the Justice Against Sponsors of Terrorism Act ("JASTA"). President Obama had vetoed JASTA on September 23, 2016 but both the U.S.
Client Alert | September 30, 2016