Equity Compensation Alternatives
For both established companies and new companies, it is often essential to allow key employees to participate in the company’s future growth and profitability through equity ownership. This helps align the interests of ownership and key employees.
Timing is Everything: A Creditor’s Errant Conclusion as to an Executory Contract Leads to Claim Denial
Although the Bankruptcy Code does not define “executory contract,” the widely adopted definition explains it as a “contract under which the obligation of both the bankrupt and the other party to the contract are so far underperformed that the failure of either to complete performance would constitute a material breach excusing the performance of the other.” Bankruptcy Judge Martin Isgur of the Southern District of Texas, In re Cornerstone Valve, LLC, et al, Case No. 19-30869, recently held that a creditor’s failure to properly analyze its contract with the debtor resulted in its otherwise valid unsecured claim being untimely filed.
New Executive Directives by President Biden Strengthen Existing Buy American Act
On January 25, 2021, President Biden signed an executive order titled, Ensuring the Future is Made in All of America by All of America’s Workers. This executive order is designed to discourage federal agencies from obtaining waivers to existing Buy American Act (“BAA”)1 requirements and to encourage federal procurement of goods fabricated with American labor.
OSHA Issues a Draft of the COVID-19 Emergency Temporary Standard
On April 26, 2021, the Occupational Safety and Health Administration (OSHA) officially sent to the White House a long awaited draft of their COVID-19 Emergency Temporary Standard (“ETS”). Once issued, OSHA’s ETS will be the most concrete guidance regarding COVID-19 received from OSHA to date. It will also provide OSHA the ability to issue citations to employers who fail to comply with the ETS’s requirements.
Cybersecurity: Department of Labor Guidance for Retirement Plan Sponsors
As sponsors of 401(k) and other retirement plans, employers typically rely on plan service providers (i.e. recordkeepers, trustees, etc.) to maintain plan accounts, keep participant accounts secure and participant data confidential. As fiduciaries, employers must act with the care and diligence under the circumstances as would a “prudent” person.
Kentucky Legislature Enacts Covid-19 Liability Protection for Businesses
As the country slowly recovers from the economic devastation caused by the COVID-19 pandemic, Kentucky’s lawmakers have stepped in to provide protections to the businesses and workers that will help get the Commonwealth back on its feet. On the last day of the most recent legislative session, Senate Bill 5 became law when the Governor declined to sign or veto it. This legislation, similar to laws in 30 other states, offers immunity from COVID-19-related negligence actions to business owners and essential service providers working to prevent the spread of the virus.
New Markets Tax Credits - How to Go About Getting Your Project "Shovel Ready”
What do New Markets Tax Credits (“NMTC”) mean to a qualifying project? Attorneys Jim Seiffert and Jack Seiffert take a look in this client alert.
Refreshing Relief or Return of the Robocalls?
In a long-awaited decision, the United State Supreme Court issued a ruling in Facebook, Inc. v. Duguid, No. 19-511, on April 1, 2021, concluding that, to qualify as an autodialer under the Telephone Consumer Protection Act (“TCPA”), a device must have the capacity to use a random or sequential number generator to store or to produce phone numbers.