Power in Collaboration®
Published in IFA Commercial Factor The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a comprehensive legislation in response to the COVID-19 pandemic signed into law on March 27, 2020 by President Trump, establishes programs and initiatives intended to provide immediate assistance to business owners through a massive $2.2 trillion economic stimulus package. However,… Read more »
By Edyta Kania ♦ Circuit Court / Cook County: All matters are rescheduled and continued for 30 days from the originally scheduled court date (except for emergencies). Electronic filings of motion and new cases continue. ♦ No later than April 16, 2020, all hearings shall be conducted by videoconferencing, so that the only persons physically… Read more »
By Robert E. Harig The U.S. Small Business Administration (SBA) is now offering low-interest federal disaster loans for working capital purposes to Illinois small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19) pandemic. SBA acted under authority provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act signed by President Trump… Read more »
By Anthony B. Ferraro On March 13, 2020, President Trump issued a national emergency declaration due to the COVID-19 pandemic. Technically speaking this declaration resulted in the issuance of what is called a 1135 Waiver, which allows Centers for Medicare and Medicaid Services (CMS) to waive many rules and regulations, including conditions of participation… Read more »
By Julia J. Smolka At this unprecedented time, many of you are experiencing significant work and income stoppages. As an attorney with extensive experience in debtor and creditor work, there are some dos and don’ts. ♦ Prioritize payments to creditors. Reach out to your landlord and ask for an extension on rent. If you have… Read more »
By Abraham E. Brustein and Derek D. Samz In this time of economic uncertainty, your business may face an increasing number of late customer payments, supply chain issues or increased debt pressure. Your small business is going to continue to incur fixed overhead costs while being unable to generate current revenue. We can help you… Read more »
By Patrick D. Owens and Rebecca M. Cerny On March 27, 2020, President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2 trillion economic stimulus, emergency assistance, and health care response for individuals, families and businesses affected by the 2020 coronavirus pandemic. The major highlights involve (i)… Read more »
By Karuna S. Brunk We previously reported on how employees can handle employment loss due to COVID-19 and the current health crisis. This article focuses on what Illinois employers need to know. 1. Executive Order in Response to COVID-19: Effective March 21, 2020, Illinois Governor J.B. Pritzker issued an Executive Order in Response to COVID-19… Read more »
By Karuna S. Brunk Separate from the requirements of the FFCRA, COVID-19 has created an economic and financial crisis for employers. The DOL has indicated that employers may layoff and furlough employees related to economic conditions without violating the FFCRA. Larger employers may be required to provide notice to employees in the event that they… Read more »
By Jonathan R. Ksiazek COVID-19, otherwise known as the Coronavirus, has impacted every American employee and will continue to do so for the upcoming weeks and months. In such an unprecedented time, it is important for employees to know what their rights are in the event that they are laid-off, furloughed, have to stay home… Read more »