COVID-19

COVID-19 Related Legal Advice and Services

In response to the ever-changing landscape stemming from the COVID-19 pandemic, our attorneys are closely monitoring new legal and regulatory developments.

We guide clients through the process of navigating resources offered under the Coronavirus Aid, Relief and Economic Security Act (CARES Act) including interpreting the Paycheck Protection Program (PPP), Economic Injury Loan Program (EIDL) and the Main Street New Loan Facility. We assist clients in preparing the necessary documents to support their claims, applying for loans and obtaining funding and other benefits available under these and other COVID-19-related government programs.

Our full-service practice groups coordinate on multiple issues impacting businesses and individuals as a result of COVID-19. Our attorneys collaborate in areas such as Labor & Employment, Tax, Bankruptcy & Corporate Restructuring, Immigration, Real Estate, Leasing, Construction, Corporate & Securities, Litigation, Intellectual Property, Retail, Co-op and Condominium Law, Not-for-Profit and Education to bring you the most up-to-date information possible.

Of particular note:

  • Our Labor and Employment Group is highly versed in the full slate of new legislation and regulations impacting employers. They are well prepared to provide legal advice on all of the pre-existing leave laws, and those recently enacted under federal and state law that apply granting COVID-related leave.
  • Our Tax Group consults on tax law changes and new employment tax credits available to employers.
  • Our Bankruptcy Bankruptcy and Corporate Restructuring Group consults on the various out-of-court and Bankruptcy Court options and remedies available to address financial distress and cash-flow issues. They are also well versed in the newly enacted provision under Chapter 11, Subchapter 5 - Small Business Debtor Reorganization.
  • Our Immigration Group is on top of the rapid-moving immigration developments, including border closures.
  • Our Real Estate and Leasing Group assists with a multitude of issues impacting property owners, landlords and tenants.
  • Our Construction Group counsels developers, property owners and contractors on the various issues that have arisen that impact projects in various stages and issues surrounding compliance with government orders.
  • Our Corporate and Securities Group advises clients with existing financing transactions and assists clients close new debt and equity investments. They are currently working with entrepreneurs to develop new ventures in response to needs resulting from the pandemic.

Tarter Krinsky and Drogin's COVID-19 Resource Center

Our COVID-19 Resource Center is updated on a regular basis and offers guidance on how new laws may impact businesses. For the COVID Resource Center, click here.

Please direct any inquiries to your Tarter Krinsky & Drogin relationship attorney or email one of our COVID-19 team attorneys at CV19team@tartekrinsky.com 

Name Title Direct Dial Vcard
Ben-Ami, Andrew R. Partner and Chair of Tax Practice Partner and Chair of Tax Practice 212.216.8025 VCard
Chu, Justin Y.K. General Counsel and Partner General Counsel and Partner 212.216.1160 VCard
Lydell, Sherri D. Partner Partner 212.216.1151 VCard
Malinowski, Simon I. Associate Associate 212.216.1133 VCard
Molinari, Guy Partner and Chair of Corporate and Securities Group Partner and Chair of Corporate and Securities Group 212.216.1188 VCard
Piazza, Gina M. Partner and Co-Chair of Italy Practice Partner and Co-Chair of Italy Practice 212.216.1129 VCard
Rudolph, Elishama A. Associate Associate 212.216.1145 VCard
Schoenstein, Richard C. Partner and Co-Chair of Securities and Financial Services Litigation Group Partner and Co-Chair of Securities and Financial Services Litigation Group 212.216.1120 VCard
Smith, James G. Partner Partner 212.216.8060 VCard
Toevs Carolan, Tara Partner Partner 212.216.8007 VCard
  • Paycheck Protection Program Extended Through August 8, 2020
    July 7, 2020

    Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow employers to continue to pay their employees and assist with certain other expenses resulting from the COVID-19 pandemic.

  • Federal Reserve Bank of Boston Announces Main Street Lending Program Is Fully Operational
    July 7, 2020

    The Federal Reserve Bank of Boston announced the Main Street Lending Program is “now fully operational, ready to purchase participations in eligible loans that are submitted to the program by registered lenders.”

  • New York State Reopening: Status and Updates on Work From Home Requirements
    July 7, 2020

    New York City entered Phase III of reopening on Monday, July 6, 2020. However, indoor dining was postponed in New York City due to concerns regarding the risk of spreading COVID-19.

  • SBA Issues New Interim Final Rule for Paycheck Protection Program– Guidance Your Business Should be Aware Of
    July 1, 2020

    Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow employers to continue to pay their employees and assist with certain other expenses resulting from the COVID-19 pandemic.

  • Internal Revenue Service Announces Relief for Qualified Opportunity Zone Investors
    June 11, 2020

    On June 4, 2020, the Internal Revenue Service issued Notice 2020-39, which provides temporary relief to qualified opportunity funds (QOFs) and their investors as a result of the COVID-19 pandemic.

  • Federal Reserve Bank of Boston Modifies Main Street Lending Program
    June 10, 2020

    The Federal Reserve Bank of Boston announced changes to the Main Street Lending Program (Program) to allow more small and medium-sized businesses to be able to participate in the Program. 

  • Federal Reserve Advances Towards Launching Main Street Lending Program
    June 9, 2020

    The Federal Reserve recently announced that the Federal Reserve Bank of Boston has set up the special purpose vehicle (SPV) to purchase participations in loans originated by eligible lenders under the Main Street Lending Program (Program). In addition, Program loan participation agreement, form borrower and lender certifications, and other required form agreements are now available on the Federal Reserve Bank of Boston’s Main Street Lending Program Forms and Agreements website. The Federal Reserve also updated its Frequently Asked Questions (FAQs), dated May 27, 2020.

  • Amendment to CARES Act and PPP Loan Forgiveness
    June 5, 2020

    On June 5, 2020, President Trump signed H.R. 7010 (the Bill), which the Senate had unanimously passed. The Bill amends several provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Paycheck Protection Program (PPP).

  • Project Restart: Strategy For Remobilizing Construction
    May 28, 2020

    New York State Governor Andrew Cuomo recently announced phased reopening of businesses, with the construction industry included in Phase 1. The Governor’s announcement means project owners in New York should prepare for construction to restart. Given the long pause of most projects in New York, contractors and subcontractors will first report to their most profitable projects where payments are made timely.  We recommend that owners consider taking the following steps before the construction ban is lifted to successfully restart their projects.

  • Alternative Loan Options For Certain Small Businesses, Non-Profits and Landlords in New York State
    May 28, 2020

    For certain small businesses, non-profits and landlords who did not receive a Paycheck Protection Program loan or an Economic Injury Disaster Loan from the Small Business Administration, New York State is making available loans under the New York Forward Loan Fund (NYFLF). The NYFLF is a new economic recovery loan program aimed at supporting New York State’s small businesses, non-profits and landlords as they reopen after the COVID-19 outbreak and New York State on PAUSE.

  • Main Street Loans: How Much May a Company Borrow?
    May 27, 2020

    Federal Reserve Chairman Jerome Powell announced on May 19, 2020, before a Senate Committee that the Main Street Lending Program (Program) is anticipated to be launched around the end of May. Prospective borrowers should be preparing for making loan applications with participating lenders when the Program commences.

  • New York City Council Passes Suspension of Personal Guarantees for Certain Commercial Tenants
    May 27, 2020

    On May 26, 2020, New York City Mayor Bill de Blasio signed the City Council’s bill No.1932-A (the Personal Liability Bill). The Personal Liability Bill adds a new section 22-1005 to the administrative code of the City of New York, suspending the enforcement of personal liability provisions for certain commercial tenants affected by the COVID-19 crisis.

  • SBA Releases Additional PPP Loan Review Guidance
    May 27, 2020

    On May 22, 2020, the Small Business Administration (SBA), in consultation with the U.S. Department of Treasury, published an interim final rule (the Review Guidance) to supplement previous Paycheck Protection Program (PPP) loan forgiveness guidance. The Review Guidance is intended to establish the standards by which the SBA will investigate whether a loan met program requirements and the circumstances under which it will be released from liability on a guarantee for such a loan.

  • SBA Releases Additional PPP Loan Forgiveness Guidance
    May 26, 2020

    On May 22, 2020, the Small Business Administration, in consultation with the U.S. Department of Treasury, published an interim final rule to supplement previous Paycheck Protection Program loan forgiveness guidance.

  • Eligibility Requirements for Federal Reserve’s Main Street Lending Program
    May 21, 2020

    Federal Reserve Chairman Jerome Powell announced on May 19, 2020, before a Senate Committee that the Main Street Lending Program (Program) is anticipated to be launched around the end of May. Prospective borrowers should be preparing for making loan applications with participating lenders when the Program commences.

  • COVID-19 Pandemic: An Increase in Business Divorce?
    May 19, 2020

    One need not have a specialized “barometer” to anticipate an onslaught of partnership storms for closely held businesses. Similar to the way in which sociologists and family counselors have predicted unfortunate spikes in marital divorce rates across the nation, all largely the result of our global pandemic and our ongoing attempts to adjust to this so-called “new normal,” we too have seen increased rancor among business partners. Interestingly, the unrest is not limited to businesses that are failing or otherwise suffering. Regrettably, we are also seeing increased partner discord in healthy thriving enterprises.

  • SBA Releases PPP Loan Forgiveness Application and Instructions
    May 18, 2020

    On May 15, 2020, the Small Business Administration, in consultation with the U.S. Department of Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application (the Forgiveness Application) and detailed instructions for the Forgiveness Application. To apply for PPP loan forgiveness, the borrower must complete the Forgiveness Application and submit the completed application and required documentation to its lender.

  • SBA Extends Good Faith Certification Safe Harbor Until May 18, 2020 and Loan Increases for Certain Partnerships
    May 15, 2020

    Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow employers to continue to pay their employees and assist with certain other expenses resulting from the COVID-19 pandemic.As the PPP went into immediate effect without the standard comment period, the SBA continues to issue additional guidance in the form of Frequently Asked Questions (FAQs) and responses as well as Interim Final Rules (IFRs). The most recently updated FAQs, current as of May 13, 2020, are available here and the most recently issued IFRs are available here. Importantly, the U.S. government will not challenge lender PPP actions that conform to the FAQs, and to IFRs and any subsequent rulemaking in effect at the time.

  • SBA Issues Additional Guidance on Good Faith Certification
    May 13, 2020

    Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow employers to continue to pay their employees and assist with certain other expenses resulting from the COVID-19 pandemic.

  • New York Extends Moratorium on Evictions and Tolling of Statute of Limitations
    May 11, 2020

    On May 7, 2020, New York State Governor Andrew Cuomo signed Executive Order No. 202.28 (the Executive Order), extending the existing moratorium on evictions and foreclosures for an additional 60 days. The Executive Order also extended time periods set forth in certain prior executive orders, including tolling all statutes of limitations until June 6, 2020.

  • SBA Issued Additional FAQ on Paycheck Protection Program on May 6, 2020 – Guidance Your Business Should Know
    May 7, 2020

    Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow employers to continue to pay their employees and assist with certain other expenses resulting from the COVID-19 pandemic. As the PPP went into immediate effect without the standard comment period, the SBA continues to issue additional guidance in the form of Frequently Asked Questions (FAQs) and responses. The most recently updated FAQs, current as of May 6, 2020, are available here. Importantly, the government will not challenge actions that borrowers and lenders take consistent with the guidance in effect at the time.

  • SBA Issues Additional FAQ on Paycheck Protection Program
    May 5, 2020

    Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow employers to continue to pay their employees and assist with certain other expenses resulting from the COVID-19 pandemic.

COVID-19 Resource Center

In response to the ever-changing landscape associated with the COVID-19 pandemic, our attorneys are closely monitoring new legal and regulatory developments. The Resource Center offers our insight and analysis of how these new laws may impact your business and provides insight to the resources that are available.

This Resource Center is updated on a regular basis, and all COVID-19 communications from the firm are located here.

Please direct any inquiries to your Tarter Krinsky & Drogin relationship attorney or email us at CV19team@tarterkrinsky.com.


COVID-19 Resource Center

In response to the ever-changing landscape associated with the COVID-19 pandemic, our attorneys are closely monitoring new legal and regulatory developments. The Resource Center offers our insight and analysis of how these new laws may impact your business and provides insight to the resources that are available.

This Resource Center is updated on a regular basis, and all COVID-19 communications from the firm are located here.

Please direct any inquiries to your Tarter Krinsky & Drogin relationship attorney or email us at CV19team@tarterkrinsky.com.

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