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    Website Launch:
    Health Care M+A

    EEOC Updates Guidance to Prohibit Antibody Testing

    In light of CDC Interim Guidelines stating antibody test results “should not be used to make decisions about returning persons to the workplace,” the EEOC released guidance on June 17, 2020 indicating that employers should not require antibody tests before permitting employees to return to the workplace.

    To read more, click here.


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    Blog Launch: COVID-19: What your Business Needs To Know
     

    The Real Estate and Financial Services Department has created a new practice page focused on Delaware Statutory Trusts 

    This practice, led by Frank Eichenlaub and Ed Hannon, will assist clients in structuring DST transactions and offerings, forming entities, preparing private placement memoranda, obtaining financing, acquiring properties and selling and closing out successful deals. This practice also can work with both DST sponsors or new equity providers in connection with distressed property restructurings involving a DST.


    Click here to check out the new DST practice page!

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    SEC Issues Additional Disclosure Guidance in Response to COVID-19
     

    Federal Reserve Proposes to Expand Main Street Lending Program for Nonprofit Organizations and Sets June 22 Deadline for Public Comments

    On June 15, the Federal Reserve announced that it is seeking public feedback until June 22 on a proposal to expand its Main Street Lending Program to provide credit access for small and medium-sized nonprofit organizations that were in sound financial condition before the coronavirus pandemic.  If one or more of the parameters of the proposal would prevent or hinder otherwise eligible nonprofit organizations from benefiting from the program, there is only a short window to submit comments so potential borrowers and lenders are encouraged to act now to have their voice heard to change the rules.  The Federal Reserve is actively seeking input from borrowers and lenders in this space, and in implementing prior changes to the Main Street Lending Program, the Federal Reserve has shown its willingness to adapt its terms to meet market needs.  

    The proposed expansion provides two loan options for nonprofits—the Nonprofit Organization New Loan Facility and the Nonprofit Organization Expanded Loan Facility.  These facilities would be separate from the previously-announced Main Street Lending Program facilities for businesses.  Loan terms under the proposed Main Street Lending Program nonprofit facilities are generally identical to the loan terms under the facilities for loans to businesses, including the interest rate, deferral of principal and interest payments, five-year term, and prepayment without penalty—though the nonprofit facilities differ in eligibility criteria and other terms.  For an overview of the substantive features of the Main Street Lending Program facilities for businesses, please see our previously released Whitepaper and our recently updated Lender’s Guide and Borrower’s Guide.

    To read more, click here.

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    SBA Updated Interim Final Rule

    President Trump Bans Entry of Certain Temporary Foreign Workers, Extends “Green Card” Ban Through 2020

    President Trump has issued a new Executive Order extending the current ban on immigrant visas for those outside the United States, as well as barring entry of new classes of nonimmigrant visas, namely H-1B, H-2B, L, and J visas (and their family members). The stated reason for the order is the unemployment of U.S. workers in the United States due to the COVID-19 outbreak. 

    To read more, click here.