2020-2021 NYS BUDGET SUMMARY & UPDATE
April 3, 2020 – This week, facing the April 1, 2020 deadline, the Governor and Legislature agreed upon the 2020-2021 State Budget. The budget authorizes a reduction in spending by $10 billion to account for the economic impact of the COVID-19 pandemic. Due to the ongoing pandemic, the budget also put its place the ability […]
Financial Assistance Programs
March 30, 2020 – Davidoff Hutcher & Citron (“DHC”) has formed a multi-disciplinary task force of attorneys and lobbyists to assist clients seeking government-sponsored loans and grants that have been made available in light of the COVID-19 pandemic (“Financial Assistance Programs”). DHC has extensive experience interacting with relevant government agencies and securing financial assistance packages […]
Update: Guidance on Executive Order 202.6
March 27, 2020 – New York State has updated guidance regarding essential businesses or entities which are exempt from the 100% Work From Home Rule. Most notably, there are changes to the Construction section of the guidance which establish new guidelines for essential vs. non-essential construction, safety measures which must be taken and exemptions for […]
BANKRUPTCY RELIEF FOR SMALL BUSINESS OWNERS
March 27, 2020 – The “Coronavirus Aid, Relief, and Economic Security Act” amends the Small Business Reorganizations Act of 2019 to help small business owners restructure their debts when they cannot “work it out” outside of a bankruptcy filing. Key takeaways of the SBRA, as amended, are: Debt Limit Increased to $7,500,000: The eligibility threshold has […]
Execution of New York Estate Planning Documents During COVID-19 Isolation
March 26, 2020 – If you are considering whether you can execute your estate planning documents during isolation in New York City, there are a few options available for a short time to do so. Until April 18, 2020, electronic notarizations are allowed in New York State. The Executive Order issued by Governor Andrew Cuomo […]
DC Update: Senate Announces Stimulus Deal
March 25, 2020 – The Trump administration struck a deal with Senate Democrats and Republicans on a historic rescue package that tees up more than $2 trillion in spending and tax breaks to bolster the hobbled U.S. economy and fund a nationwide effort to stem the coronavirus. The plan includes about $500 billion that can […]
DHC: Washington D.C. Update
March 24, 2020 – D.C. Update: Congressional leaders are optimistic they will soon reach an agreement on a stimulus bill that would inject nearly $2 trillion into the nation’s economy. Davidoff Hutcher and Citron’s government relations group in Washington, D.C. has been working around the clock with Members of Congress to ensure that our clients […]
DHC CAN HELP YOU WORK IT OUT
March 24, 2020 – Workouts, Restructuring, Bankruptcy and Creditor Rights Financial distress is one fallout from COVID-19 (coronavirus), with the worldwide supply chain disrupted, businesses shut down, oil prices plummeting, mass unemployment and financial hardship all around. Lenders and borrowers, landlords and tenants, business owners and employees: everyone has been affected to varying degrees. The […]
Governor’s Executive Order 202.6 Guidance
March 20, 2020 – Governor Cuomo and the New York State Economic State Development have provided a list and guidance on essential services exempt from the 75% work from home rule. Please note that the Governor has mandated that all barbershops and nail salons close until further notice. We will have additional information after the […]
Update: Governor’s Executive Order 100% Workforce
March 20, 2020 – Here are some important updates for businesses. We understand that many businesses are looking for clarifications on many of these directives. We are working on getting those answers for you. The situation remains extremely fluid and is changing on a day to day basis. Per Governor Cuomo’s announcement today, all businesses […]
