The COVID-19 pandemic has caused significant worldwide disruptions of business operations and has negatively impacted stock prices globally. As a result, many corporations find themselves potentially vulnerable to abusive takeover tactics, such as inadequate or coercive takeover proposals and market accumulations by investors seeking to profit from depressed stock prices that may not accurately reflect a…
On April 23, 2020, the U.S. Equal Employment Opportunity Commission (EEOC) announced that employers will be allowed to test employees for COVID-19 before they enter a work site without violating the Americans with Disabilities Act (ADA). While the ADA requires that any mandatory medical test of employees be “job related and consistent with business necessity,” employers…
The Department of Treasury and the Internal Revenue Service have recently extended relief to certain taxpayers in light of the COVID-19 pandemic. On April 9, 2020, Treasury and the IRS issued Notice 2020-23, which, in part, extends the deadlines for certain filings and other actions, including those relating to like-kind exchanges of real estate for certain…
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) recently issued a memo addressing OSHA’s recordkeeping requirements for employers regarding recording cases of COVID-19. Effective immediately, OSHA’s recordkeeping requirements mandate that COVID-19 is a recordable illness, and employers with more than 10 employees must record cases of COVID-19 if the case: Is confirmed as…
On April 6, 2020, John C. Carney, the Governor of the State of Delaware, issued the Tenth Modification of the Declaration of a State of Emergency for the State of Delaware Due to a Public Health Threat (the “Order”), stemming from the COVID-19 pandemic. Among other things, the Order promotes the safety of participants of public…
We are proud to announce that former Delaware U.S. Bankruptcy Court Judge Kevin Gross is joining Richards, Layton & Finger as a director in the firm’s Bankruptcy & Corporate Restructuring department. Please click here to view a video of Kevin Gross discussing how he will assist our clients. In addition, please click here to learn more…
On April 1, 2020, the U.S. Department of Labor (DOL) released a temporary rule to promulgate temporary regulations for the implementation of the Emergency Paid Sick Leave Act (EPSLA) and Emergency Family and Medical Leave Expansion Act (EFMLEA), both part of the Families First Coronavirus Response Act (FFCRA) which took effect April 1. The rule provides…
Lawyers are often asked to provide Uniform Commercial Code (U.C.C.) perfection opinions in commercial real estate finance transactions. These opinions have been addressed in detail in the recent report, “Uniform Commercial Code Opinions in Real Estate Finance Transactions,” prepared by a Joint Drafting Committee of the ABA Section of Real Property, Trust and Estate Law Committee…
On Jan. 14, 2020, a unanimous U.S. Supreme Court held in Ritzen Group Inc. v. Jackson Masonry LLC that “when the bankruptcy court unreservedly grants or denies relief” from the automatic stay, its order is final and therefore immediately appealable. Thus, a creditor’s appeal of a denial of stay relief was untimely because it was filed…
As contemplated by the Families First Coronavirus Response Act (FFCRA), the United States Department of Labor continues to issue compliance assistance to employers and employees. The DOL, in its most recent updated guidance, adds more questions and answers to include topics such as the extent to which certain small businesses (less than 50 employees) can be…