Client Update

On December 11, 2021, the Cybersecurity & Infrastructure Security Agency (“CISA”) released a statement regarding a cyber security vulnerability found in Java software libraries. The CISA categorized this “Log4j” or ‘Log4shell” vulnerability as a “severe risk” that could be “widely exploited” by actors with ill-intent.[1] While this vulnerability is a risk to business software generally,…

According to industry leaders, COVID-19 related staffing shortages at medical facilities have turned into a full-blown crisis as hundreds of positions at medical facilities have remained vacant. As a result, medical facilities are denying admissions because they can’t staff enough to take on new patients. Increased government aid to keep medical facilities open and operational…

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”), which retroactively eliminated and repealed the employee retention credit (“ERC”) as of September 30, 2021. The credit was previously set to expire on January 1, 2022. This law effectively eliminates an employer’s ability to claim the ERC for eligible wages…

Utility-scale solar developments have proliferated across the United States over the past decade, growing at a rate that few could have predicted just a short while ago. Even as the actual capacity of solar projects installed continues to beat the most optimistic forecasts, States across the country have set ambitious renewable energy targets that will…

In 2017, the Tax Cuts and Job Act imposed a ten thousand dollar ($10,000) cap on the amount of itemized deductions that a taxpayer can deduct on the taxpayer’s tax return (the “Cap”). Prior to the Cap, a taxpayer could deduct the full amount of all state and local taxes paid to the applicable state and…

Condominium associations play a vital role in the success of condo projects. Generally, condo associations are formed as not-for-profit corporations and their officers and directors are tasked with establishing a budget to address their operating expenses, set aside funds for future repairs and projects, and to enforce the rules and procedures of the complex. The…

Illinois joins a growing list of jurisdictions, including California, District of Columbia, Maryland, Massachusetts, Oregon, Rhode Island, Virginia and the State of Washington, that have recently passed legislation limiting or outlawing restrictive employee non-competition and non-solicitation covenants. There is also a new push at the federal level to all but bar non-competition agreements, except under…

On August 26, 2021, the U.S. Supreme Court, in a per curiam opinion, vacated the stay of a judgment by the U.S. District Court for the District of Columbia, which had held that the Centers for Disease Control and Prevention (“CDC”) had lacked statutory authority to impose a nationwide moratorium on evictions of tenants in…

With the rising emergence of environmental, social and governance (ESG) initiatives globally in recent years, lenders and borrowers have collaborated to create new financial instruments that incentivize borrowers to achieve the ESG-related goals of their business. The sustainability-linked loan (SLL) product is one of these financial instruments, and takes the form of bonding lines of credit,…