Reducing Employer Litigation Risk Post Stay-At-Home Orders With Governor Abbott’s most recent press conference (April 27, 2020), the stay-at-home order has generally been lifted (and overrides local stay at home orders) and it appears businesses are closer to being allowed to fully reopen. While this may mean that employers can begin requiring employees to be …
by Scott A. Meyer If your business has been impacted by COVID-19 measures, should you make a Business Interruption insurance claim? Most common insurance policies’ business interruption coverage is only triggered if the business interruption results from “direct physical loss or damage” such as from a tornado or fire. Unfortunately, most insurance carriers tend to …
Paycheck Protection Program (PPP) vs Full Economic Injury Disaster Loan (EIDL) We previously sent out a notice that, under the CARES Act that was just passed, borrowers can receive $10,000 in an emergency grant cash advance (an “Advance”) as part of the Economic Injury Disaster Loan (EIDL). While the Advance will still be forgiven if …
Will COVID-19 Excuse Contractual Nonperformance? The first step in answering this question is to look at your contract and determine if it contains a force majeure provision. A force majeure provision will excuse a party from nonperformance of a contractual obligation when the nonperformance is caused by unforeseen circumstances. Whether a party will be excused …
The CARES Act The US government has just passed the CARES Act to help small businesses (under 500 employees) stay afloat. You should consider applying for a $10,000 SBA Economic Injury Disaster Loan (EIDL). SBA Economic Injury Disaster Loan (EIDL) The CPAs we work with recommend it for all small businesses – but please consult …