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Small Business Rent

Jones Day

New York Legislature Targets Real Estate Lenders To Lower Rents

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In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this...more

Tarter Krinsky & Drogin LLP

New York City’s “Guaranty Law” is Held to be Unconstitutional and Unenforceable

In a highly-anticipated decision, Judge Ronnie Abrams of the United States District Court for the Southern District of New York ruled on March 31, 2023, in Melendez v. City of New York, that New York City's Guaranty Law is...more

Cadwalader, Wickersham & Taft LLP

Bring On Q4 - September 2021 - COVID-19 Update: New York Governor Signs New Moratorium Effective until January 15, 2022

On September 2, 2021, New York Governor Kathy Hochul signed into law a new moratorium on evictions and foreclosures for residential tenants and small businesses. Recently, in the case Chrysafis v. Marks, the U.S. Supreme...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: New York Governor Signs New Moratorium Effective until January 2022

On September 2, 2021, New York Governor Kathy Hochul signed into law a new moratorium on evictions and foreclosures for residential tenants and small businesses.  Recently, in the case Chrysafis v. Marks, the U.S. Supreme...more

Perkins Coie

Potential Rent Relief for San Francisco Small Businesses Forced to Shut Down

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On July 20, 2021, the San Francisco Board of Supervisors unanimously approved an amendment to the San Francisco Commercial Eviction Moratorium Ordinance (Moratorium Amendment) codifying a legal presumption to potentially...more

Bradley Arant Boult Cummings LLP

Guest Notebook: New Law Offers Rent Relief for Commercial Tenants

At the end of 2020, Congress enacted the Consolidated Appropriations Act, 2021, partially in response to the COVID-19 pandemic and resulting economic crisis. While funding the federal government and preventing a government...more

Cozen O'Connor

Congress Enacts Modification to Bankruptcy Procedures Governing Assumption and Rejection of Leases

Cozen O'Connor on

The Consolidated Appropriations Act of 2021 (the Appropriations Act) is a $2.3 trillion spending bill that combines stimulus relief for the COVID-19 pandemic and an omnibus spending bill for the federal fiscal year. ...more

Bowditch & Dewey

Rent Abatement, PPP Loans (Maybe), and Other Bankruptcy Relief in the Appropriations Act

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On December 27, 2020, the Consolidated Appropriations Act, 2021 became law. In addition to funding the government and providing coronavirus relief, the Act contains several intriguing amendments to the Bankruptcy Code. The...more

Partridge Snow & Hahn LLP

Congress Reaches a Deal on a $900 Billion Pandemic Relief Bill

United States Senate and House leaders have reached an agreement on an approximately $900 billion relief bill in response to the ongoing COVID-19 pandemic. If passed, this would be the largest relief package since Congress...more

Tarter Krinsky & Drogin LLP

Federal Court Upholds New York City’s Recently Enacted “Guaranty Law” And Related Legislation Concerning Non-Payment Of Rent...

In a highly anticipated decision, Judge Ronnie Abrams of the United States District Court for the Southern District of New York, in Melendez v. City of New York, dismissed a challenge to the “Guaranty Law” and related...more

Fox Rothschild LLP

IRS Confirms Non-Deductibility Of Expenses Related To PPP Loans

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Businesses that reasonably anticipate that loans under the Paycheck Protection Program will be forgiven should be aware that they cannot claim a deduction for the eligible expenses paid or incurred during the 2020 taxable...more

Hahn Loeser & Parks LLP

IRS Disallows Deductions Funded With PPP Loans That Are Expected To Be Forgiven

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The Internal Revenue Service (“IRS”) ruled on November 18 that taxpayers that received Paycheck Protection Program (“PPP”) loans and used the proceeds to pay otherwise-deductible expenses may not deduct the payments if the...more

Burr & Forman

Corporate E-Note - September 2020

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SBA Issues New PPP Rules for Owner-Employees and Related Party Rents - The Small Business Administration ("SBA") recently issued a new interim final rule clarifying whether paycheck protection program ("PPP") loan proceeds...more

Burr & Forman

SBA Issues New PPP Rules for Owner-Employees and Related Party Rents

Burr & Forman on

The Small Business Administration (“SBA”) recently issued a new interim final rule clarifying whether paycheck protection program (“PPP”) loan proceeds may be used for certain payroll and nonpayroll costs and remain eligible...more

Partridge Snow & Hahn LLP

Massachusetts Governor Extends Moratorium on Evictions and Foreclosures

Previously set to expire August 18, 2020, Governor Baker has extended Chapter 65 of the Acts of 2020, An Act Providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency (the “Act”), by 60 days...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated July 2020 #3)

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Recent Updates - July 21, 2020: Update reflects the changes to the Declaration of Emergency and the rolling out of Stage 3 in Ontario. ...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated July 2020 #2)

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Recent Updates - July 13, 2020: Updates to OCERCA are reflected as well as updates to the extension of emergency orders in Ontario, and the extension of the State of Emergency in British Columbia. ...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated July 2020)

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Recent Updates - July 7, 2020: Updates reflect the changes in Ontario, Alberta and British Columbia, as some regular court operations begin to re-open. This update also includes the extension of British Columbia's State of...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated June 2020 #6)

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Recent Updates - June 29, 2020: Reflects the updates in the extension of the State of Emergency and Emergency Orders in Ontario, the inclusion and restrictions imposed on Windsor-Essex joining Stage 2 in Ontario, and...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated June 2020 #5)

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Recent Updates - June 24, 2020: Reflects the updates in mandatory closures in Ontario. In particular, the addition of the Stage 2 roll out in Toronto and Peel Region. ...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated June 2020 #4)

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Recent Updates - June 19, 2020: Updates to reflect the passage of Bill 192 that restricts commercial evictions in Ontario and extension of the emergency order in Ontario to June 30, 2020. ...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated June 2020 #3)

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Recent Updates - June 16, 2020: Updates to reflect the roll out of Stage 2 in Ontario and Alberta, proposed Commercial Eviction legislation in Ontario and Alberta, and the extension of the Emergency Order in British...more

Bennett Jones LLP

Overview of Real Estate Emergency Pandemic Measures (Updated June 2020 #2)

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Recent Updates - June 8, 2020: Updates to the extensions to the emergency orders and easing of restrictions, in particular short-term rentals. ...more

White and Williams LLP

IRS Issues Guidance on Tax Impact of PPP Loan Forgiveness Under the CARES Act

The Internal Revenue Service (IRS) recently issued Notice 2020-32 (Notice), which discusses the deductibility of expenses that are funded by a Paycheck Protection Plan (PPP) loan and the subsequent loan forgiveness. Section...more

Bowditch & Dewey

Massachusetts Pauses Residential and Commercial Evictions and Residential Foreclosures During the COVID-19 State of Emergency

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As the Covid-19 global emergency continues, so does its economic impact.  The Massachusetts legislature and Governor Baker have enacted numerous initiatives aimed at, among other things, Massachusetts’ economic stability and...more

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