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The Benefit of Achieving Tier III Classification for Marijuana and Cannabis Related Businesses
Category: Anti-Money Laundering , Banking, Business
In 2020 the legal segment of the marijuana industry exceeded $10 billion dollars in the United States with California alone generating $3.1 billion in sales in 2019, and Colorado in a close second at $1.6 billion. With the solidified foothold the industry has gained in the marketplace and the sheer…
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Agent Fees and the Payment Protection Program
Category: Banking, Business, Class Action, Coronavirus (COVID-19), Legislative Updates
Last week, Arkansas saw its first class action where “agents” claimed entitlement to payment of fees under the Payment Protection Program (PPP).[1] This class action illustrates another area of confusion surrounding the administration of the CARES Acts (the “Act”). Congress created the PPP as part…
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Bankruptcy Courts are Easing Traditionally Rigid Lease Payment Requirements for Commercial Tenants In COVID-Related Filings
Category: Banking, Bankruptcy, Restructuring & Creditor-Debtor Rights, Business, Coronavirus (COVID-19), Litigation
Bankruptcy courts in multiple jurisdictions have granted tenant-friendly relief to companies that have filed for Chapter 11 bankruptcy in recent months. While the Bankruptcy Code typically requires timely performance of lease obligations under 11 U.S.C. § 365, bankruptcy courts have employed…
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Are You Immune? Your Business May Be: Executive Order Protects Businesses from Civil Liability Due to COVID-19 Exposure
Category: Business, Coronavirus (COVID-19), Litigation
In a bit of much needed good news for Arkansas businesses during the current COVID-19 crisis, on June 15, 2020, Governor Asa Hutchinson signed Executive Order 20-33 (the “Order”) which provides businesses immunity from civil liability as a result of exposure to COVID-19. The threat of litigation…
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PPP Flexibility Act Makes Several Business-Friendly Changes to PPP Loan Program
Category: Business, Coronavirus (COVID-19), Tax
On Friday, June 5, 2020, President Trump signed the “Paycheck Protection Program Flexibility Act of 2020,” which makes the several welcome changes to the PPP loan provisions of the CARES Act, enacted on March 27, 2020. The Flexibility Act’s changes to the PPP Loan program include the following: …
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The Between the Lines blog is made available by Mitchell Williams Law Firm and the law firm publisher. The blog site is for educational purposes only, as well as to give general information and a general understanding of the law. This blog is not intended to provide specific legal advice. Use of this blog site does not create an attorney client relationship between you and Mitchell Williams or the blog site publisher. The Between the Lines blog site should not be used as a substitute for legal advice from a licensed professional attorney in your state.