Federal Reserve Takes Significant Steps to Expand the Main Street Lending Program

On June 8, 2020, the Federal Reserve made significant additional changes to the terms of the Main Street Lending Program, aimed at making the program more attractive to small- and mid-sized businesses and to lenders. Changes include decreased minimum loan amounts, increased maximum loan sizes, extended loan terms and deferred principal repayments, among others.

To read the full text of this Duane Morris Alert, please visit the firm website.

Maryland to Permit Indoor Dining, Reopen Casinos and Lift Additional Restrictions on Nonessential Businesses, Subject to Local Orders

On June 10, 2020, Maryland Governor Larry Hogan announced that the next round of phased reopenings would begin on June 12, 2020, with another round to follow on June 19, 2020, all subject to local orders. These reopenings continue the state’s implementation of stage two of its three-stage recovery plan.

To read the full text of this Duane Morris Alert, please visit the firm website.

Meals for Healthcare Heroes – Newark

On Tuesday, June 9, Duane Morris’ Newark office provided meals from SuzyQue’s BBQ & Bar to healthcare workers on the front lines at Saint Michael’s Medical CenterThis is part of our firmwide initiative Meals for Healthcare Heroes. This program is funded by donations from Duane Morris attorneys and staff and is meant to honor the healthcare workers and support local restaurants. Duane Morris’ COVID-19 Strategy Team will be hosting 15 Meals for Healthcare Heroes events nationwide.

FINRA Now Offering COVID-19 Reduced Fee Mediation Program

In response to the COVID-19 pandemic, FINRA’s mediation department has announced a reduced fee remote mediation program available through August 31, 2020. In this program, parties will choose from a randomly generated list of 10 national mediators. The mediator fee is $100 per hour split between the parties, and FINRA mediation filing fees and administrative fees are waived.

FINRA also offers virtual hearing services (via Zoom and teleconference) to parties in all cases by joint agreement of parties and mediator.

Read more about FINRA and the pandemic in our April 9 and May 26 Alerts.

Meals for Healthcare Heroes – Houston

On June 8, Duane Morris’ Houston office provided meals from Los Tios to healthcare workers on the front lines at Ben Taub Hospital. This is part of our firmwide initiative Meals for Healthcare Heroes. This program is funded by donations from Duane Morris attorneys and staff and is meant to honor the healthcare workers and support local restaurants. This is one of 15 Meals for Healthcare Heroes events Duane Morris’ COVID-19 Strategy Team will be hosting nationwide.

Duane Morris employees Umica Anderson-Howard and Esbeidi Diaz delivered the meals.

Meals for Healthcare Heroes – Boston

On June 5, Duane Morris’ Boston office provided meals from Saltie Girl to healthcare workers on the front lines at Beth Israel Deaconess Medical Center. This is part of our firmwide initiative Meals for Healthcare Heroes. This program is funded by donations from Duane Morris attorneys and staff and is meant to honor the healthcare workers and support local restaurants. This is one of 15 Meals for Healthcare Heroes events Duane Morris’ COVID-19 Strategy Team will be hosting nationwide.

Termination Clauses and Temporary COVID-19 Relief From UK Corporate Insolvency and Governance Bill

The new Corporate Insolvency and Governance Bill will introduce new provisions to protect a company from suppliers wishing to terminate supply contracts or invoking more draconian terms when the company is entering into certain insolvency procedures, a CVA, or a new restructuring plan or moratorium (as introduced by the Bill), (each an “Insolvency Procedure”).

The purpose behind the new provisions is to maximise the possibility of a company being rescued or being able to sell its business as a going concern by helping it to trade through an Insolvency Procedure.

To read the full post by Duane Morris partner Linda Crow, please visit the Duane Morris London Blog.Corpo

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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