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Publications
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06.05.2023Use of Generative AI in Litigation Requires Care and OversightUpdates
Use of generative AI in the legal profession offers the potential for significant advancement but also poses risks. Court orders issued last week by the U.S. District Court for the Northern District of Texas and the U.S. District Court for the Northern District of Illinois, along with a recent show cause order issued by the U.S. District Court for the Southern District of New York, each highlights some of the risks that in-house counsel and litigators should consider when using these new technologies in litigation matters.
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03.16.2023Distressed Bank Update as of March 16, 2023UpdatesIn the three days since federal authorities announced sweeping measures to protect depositors of Silicon Valley Bank (SVB) and Signature Bank and help prevent additional bank failures (as discussed in our update of March 12, 2023), the U.S. banking system appears to have stabilized, at least temporarily.
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04.21.2021SBA Serves Up Guidance for Restaurant Revitalization Fund GrantsUpdatesRecent SBA guidance and a sample application form suggest that the SBA will soon open its system for Restaurant Revitalization Fund grants. This would provide welcome relief for restaurants and other businesses that have been hard-hit by the COVID-19 pandemic and provide sources of funding for amounts they owe to landlords, suppliers, and others. The SBA guidance and sample application form clarify certain aspects of the grant application process but leaves other questions unanswered, including the question of when funding will actually be available.
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02.16.2021What DOJ's 1st PPP Fraud Settlement Can Teach BorrowersArticles
Law360
As the government revives its Paycheck Protection Program with hundreds of billions of dollars in additional loans available to small businesses, there are fresh signs that government fraud investigations and whistleblower litigation related to the loan program are ramping up. -
02.08.2021DOJ’s First False Claims Act Settlement Against PPP Borrower Signals Robust Fraud Enforcement AheadUpdates
As the government revives its Paycheck Protection Program (PPP) with hundreds of billions of dollars in additional loans available to small businesses, there are fresh signs that government fraud investigations and whistleblower litigation related to the loan program are ramping up.
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01.12.2021Portal Opens for New PPP Loans With New SBA Guidance and Application FormsUpdatesThe Small Business Administration (SBA) has announced that they will reopen their portal for Paycheck Protection Program (PPP) loans for eligible borrowers beginning the week of January 11, 2021, after being shut down since August 8, 2020, when the prior congressional authorization for PPP loans expired.
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11.2020 – 12.2020SBA Announces New Guidance on Consent Requirements for PPP Borrower Changes of OwnershipArticlesThe Small Business Administration (SBA) released a procedural notice (the Notice) on October 2, 2020, that describes the process and requirements that Paycheck Protection Program (PPP) borrowers and lenders must follow when ownership of the PPP borrower is changing.
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12.24.2020Another Round of PPP Loans Approved by Congress, With Yet Additional Changes to the ProgramUpdatesThe U.S. Senate and House of Representatives, on December 21, 2020, approved H.R. 133, referred to as the “Consolidated Appropriations Act, 2021.”
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11.04.2020SBA Questions Borrowers About the Necessity of Their PPP LoansUpdatesOver the course of the last week, the Small Business Administration (SBA) has reportedly begun quietly questioning borrowers who had received Paycheck Protection Program (PPP) loans about the “necessity” of their loans.
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10.06.2020SBA Announces New Guidance on Consent Requirements for Changes of Ownership of PPP Loan BorrowersUpdatesThe U.S. Small Business Administration (SBA) released a procedural notice (the Notice) on October 2, 2020, that describes the process and requirements that Paycheck Protection Program (PPP) borrowers and lenders must follow when ownership of the PPP borrower is changing.
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08.10.2020New PPP Loan Forgiveness Guidance Issued in Advance of Opening of SBA’s Loan Forgiveness PortalUpdatesWhile debates in Congress continue regarding extending or providing additional COVID-19 relief legislation, the Small Business Administration (SBA), U.S. Department of Treasury (Treasury), and lenders under the Paycheck Protection Program (PPP) are preparing for the next wave of activity for PPP loans.
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06.18.2020SBA Releases New PPP Loan Forgiveness Application Forms Paycheck Protection Program Flexibility Act GuidanceUpdatesThe Small Business Administration (SBA), on June 16, 2020, released new loan forgiveness application forms and corresponding instructions for borrowers seeking forgiveness of their Paycheck Protection Program (PPP) loans.
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06.09.2020The Federal Reserve’s Main Street Lending Program: What Borrowers Need to Know (Updated June 9, 2020)Updates
This update amends our prior publication on June 5, 2020, and contains new information based on additional guidance provided by the Federal Reserve on June 8, 2020.
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06.05.2020The Federal Reserve’s Main Street Lending Program: What Borrowers Need to KnowUpdates
This update amends our prior publication on May 4, 2020, titled Federal Reserve Announces Changes to Main Street Lending Program and contains new information based on additional guidance provided by the Federal Reserve on May 27, 2020.
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05.29.2020Proposed Legislation May Extend Period for PPP Loan Forgiveness—Meanwhile, SBA Releases Yet More GuidanceUpdatesThe U.S. House of Representatives, on May 28, 2020, passed with bipartisan support H.R. 6886, referred to as the Paycheck Protection Program Flexibility Act of 2020.
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05.18.2020SBA Releases PPP Loan Forgiveness Application and Implicit Guidance on Requirements for Loan ForgivenessUpdatesOn May 15, 2020, the Small Business Administration (SBA) released an application for loan forgiveness under the Paycheck Protection Program (PPP).
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05.15.2020SBA’s Expanded “Safe Harbor” May Reduce, But Does Not Eliminate, Enforcement Risks for Businesses Seeking PPP LoansUpdatesBorrowers who, together with their affiliates, received Paycheck Protection Program (PPP) loans in an aggregate amount less than $2 million will be deemed to have made their certification that the loan was “necessary” in good faith, according to new guidance issued by the U.S. Small Business Administration (SBA).
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05.04.2020Federal Reserve Announces Changes to Main Street Lending ProgramUpdatesThe Federal Reserve Board released updated guidance on its Main Street Lending Program (Main Street Program) on April 30, 2020. Authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and previously announced on April 9, 2020, the Main Street Program will indirectly offer loans to small- and medium-sized businesses to alleviate economic distress caused by the spread of COVID-19.
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04.23.2020Congress Approves New Funding for PPP Loans and EIDLs; SBA Issues Updated FAQ Regarding “Necessity”UpdatesThe Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, established the Paycheck Protection Program (PPP), a loan program that made $349 billion available to small businesses using the Small Business Administration’s (SBA) existing 7(a) loan program.
Presentations
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05.25.2023Key Trends in Private Company Mergers and AcquisitionsSpeaking Engagements36th Annual Technology Law Conference
UT Law CLE / Austin, TXA discussion of trends in private M&A deals including key negotiating points, developments in representation and warranty insurance, the role of an investment bank and related engagement letter terms and recent Delaware caselaw. -
02.24.2022Selling Ahead of Availability: Lessons Learned on Funding, Transparency, and Corporate Governance From the Theranos Saga and Elizabeth Holmes Criminal ConvictionSpeaking EngagementsPanelist
Texas Life Science Forum / Houston, TXBuilding and funding a life science company in a “move fast and break things” culture brings inherent challenges as the pressure to grow competes with the “do no harm” ethic and legal obligations to investors and customers. -
04.2020The CARES Act Webinar SeriesWebinarsJoin us for a timely webinar that will address key considerations for businesses exploring the financing opportunities made available under the CARES Act.
