Covid 19

As the United States slowly emerges from the Covid-19 Pandemic (“Pandemic”), many U.S. companies are re-evaluating their post-Pandemic employee and staffing needs. The results of such re-evaluations will directly impact how many square feet of commercial office space the respective companies will require to operate of their businesses. Specifically, due to the Pandemic’s impact and…

Yesterday, President Biden announced new vaccination requirements impacting both the federal and private sectors. In addition to Executive Orders covering federal employees and federal contractors, the President also announced that he was directing the Department of Labor’s Occupational Safety and Health Administration (OSHA) to draft a new emergency standard requiring businesses with over 100 employees…

A recent case in Delaware is instructive of the challenges a buyer may face should they refuse to close a pending acquisition following the entry into a stock purchase agreement, with a debt financing commitment letter in hand, based on alleged breaches of typical “material adverse effect” clauses and “ordinary course of business” operating covenants.…

On Wednesday, May 5, 2021, a federal judge struck down the nationwide moratorium on residential evictions put into place by the U.S. Centers for Disease Control and Prevention (the “CDC”) that had been in effect since September 4, 2020, and which was extended through June 30, 2021 by President Biden on his first day of…

As previously reported by DarrowEverett, the Small Business Reorganization Act of 2019, created Subchapter V of chapter 11 of the Bankruptcy Code, which became effective on February 19, 2020 (11 U.S.C. §§ 1181-1195 “Subchapter V”). Subchapter V focuses on small business debtors and aims to remove some of the complexity and costs associated with a traditional…

The Internal Revenue Service (“IRS” or the “Service”) announced yesterday that it was extending the filing and payment deadlines for individual 2020 tax returns and federal tax payments for 2020 due on April 15, 2021 to May 17, 2021. In its announcement, the IRS said it would be providing formal guidance in the days to come. The Service…

With the Biden Administration installed in the White House, and Democratic control established in both houses of Congress, it is much more likely that President Biden will propose significant Estate Tax reform. This article focuses on potential Biden Administration changes to laws governing: (a) the Estate Tax personal exemption and (b) the step-up in tax basis…

The December 27, 2020 CARES Act Amendment (“CAA”) to the original COVID-19 CARES Act relief package includes several temporary amendments to the Bankruptcy Code designed to provide additional relief to bankruptcy debtors and additional protections for commercial landlords and suppliers adversely impacted by the COVID-19 pandemic. Key provisions include: Bankruptcy Debtor Eligibility for CARES Act…