The situation surrounding the COVID-19 (Coronavirus) pandemic is rapidly changing, with government guidelines, emergency legislation, stay at home orders, and other directives being released on a daily, if not hourly, basis. In order to stay on top of all of the new developments regarding the pandemic, SATC|Law remains committed to be a resource for you by providing you with our analysis of the ever developing changes. Below is a summary of our Special Reports issued to date pertaining to the pandemic.
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SPECIAL REPORT: PPP Loan Guidance
January 18, 2021
SPECIAL REPORT: PPP Loans - Round Two
December 30, 2020
SPECIAL REPORT: An Update on the COVID-19 Business-Interruption Legal Fight
October 23, 2020
SPECIAL REPORT: Important PPP Changes
June 10, 2020
SPECIAL REPORT: Chicago’s Phase 3 Guidelines for Reopening
May 28, 2020
On Wednesday, June 3, Chicago will begin a partial reopening of many businesses. A closer look on what the guidelines are for Chicago's phase 3 plan in reopening the city by each industry:
Education and Childcare
Office and Real Estate (including Commercial and Residential Buildings)
Accommodation and Tourism (Hotel & Accommodations and Parks & Outdoor Attractions)
Food Service
Retail (including Personal Services and Health & Fitness Clubs)
B2B (Manufacturing, Construction, Transportation & Warehousing)
Healthcare
Parks and Outdoor Attractions
SPECIAL REPORT: Illinois’ Phase 3 Guidelines for Reopening
May 28, 2020
The Illinois Department of Commerce & Economic Opportunity (DCEO) has released industry specific guidelines and toolkits for businesses and workplaces that plan to reopen after the executive stay-at-home order expires on May 29th.
Phase 3 safety guidelines and toolkits include guidance for the following 10 different industry categories:
Manufacturing
Health and Fitness Centers
Offices
Personal Care Services
Retail
Outdoor Recreation
Service Counters
Day Camps
Youth Sports
Restaurants and Bars (outdoor dining and drinking)
SPECIAL REPORT: Exploring the Paycheck Protection Program Loan Forgiveness Application
May 21, 2020
The Small Business Administration (SBA) has released its form application for borrowers to use when applying for forgiveness of their Paycheck Protection Program (PPP) loans. A brief assessment for what is required in order for the PPP loan to be forgiven. The loan forgiveness application consists of these four parts:
The PPP Loan Forgiveness Calculation Form;
PPP Schedule A;
A PPP Schedule A Worksheet; and,
An optional PPP Borrower Demographic Information Form.
SPECIAL REPORT: PPP Eligibility for Bankruptcy Debtors
May 14, 2020
Courts are currently split as to whether the Small Business Administration (SBA) can bar bankruptcy debtors from obtaining PPP loans. A look on what actions are being taken by debtors in efforts to secure a PPP loan.
SPECIAL REPORT: What You Need to Know About the Use of No-Contact Temperature Devices
May 13, 2020
With workplaces and businesses planning on reopening, companies may possibly consider implementing temperature taking policies. Information on the use of no contact temperature devices and how they may raise different privacy issues under the Illinois Biometric Information Privacy Act (“BIPA”).
Information on the following types of temperature taking devices:
· No-Contact Infrared Scanners
· Facial Recognition and Thermal Scanners
· Wearables
SPECIAL REPORT: Mayor Lightfoot’s Five-Phase Plan to “Protecting Chicago”
May 12, 2020
Mayor Lori Lightfoot’s Plan to Reopen Chicago
• Phase 1: Strict Stay at Home
• Phase 2: Stay at Home
• Phase 3: Cautiously Reopen
• Phase 4: Gradually Resume
• Phase 5: Protect
• How we Transition
• Criteria for Transitioning to Phase 3
• Employee Safety Guidelines
SPECIAL REPORT: Restore Illinois - A Five-Phase Plan to Reopen the State of Illinois
May 6, 2020
Governor Pritzker’s five-phase plan to begin to reopen the state of Illinois.
o Phase 1: Rapid Spread
o Phase 2: Flattening
o Phase 3: Recovery
o Phase 4: Revitalization
o Phase 5: Illinois restored
SPECIAL REPORT: Modified Stay at Home Order (Illinois)
May 1, 2020
Governor Pritzker’s modification of the Stay at Home order extending it until the end of May
Recap on recent litigation challenging the Governor’s authority to extend the Stay at Home order.
A closer look on what the modified Executive Order means to:
o Golfing
o Essential Businesses and Operations
o Essential and Non-Essential retail
o Requirements for Manufacturers
o All Businesses
o The Wearing of Face Coverings
SPECIAL REPORT: [Updated] What is Happening to my Case During the Pandemic?
April 29, 2020
We revisit our April 13, 2020 report to provide some additional information on the amended administrative orders affecting pending cases in Federal and Illinois county courts.
April 28, 2020
Coronavirus Aid, Relief, and Economic Security Act summary (Cares Act)
Net Operating Loss Carrybacks (NOL’s)
Adjustable Tax Income Amendment (ATI)
Reinstatement of Quality Improvement Property (QIP)
Deadlines for 1031 Exchanges
SPECIAL REPORT: What the FAQ? Finally Some More Guidance on the Paycheck Protection Program.
April 27, 2020
A brief examination of the expansion of the funds available under the PPP loan program and the additional guidance issued to borrowers under the FAQ and Paycheck Protection Program Interim Final Rule.
SPECIAL REPORT: Additional Funding Relief Under the CARES Act
April 22, 2020
Paycheck Protection Program (“PPP”)
Economic Injury Disaster Loan (“EIDL”)
Healthcare Funding
SPECIAL REPORT: Covid-19 Losses and Claims Insurance Coverage
April 17, 2020
Business Interruption Insurance
Civil Authority Coverage
Contingent Business Interruption
Ingress/Egress Coverage
Event Cancellation Coverage
Proposed Legislation and Pending Lawsuits
SPECIAL REPORT: Examining the Plan on “Opening America Up Again”
April 17, 2020
Proposed State and Regional Gating Criteria
Core State Preparedness Responsibilities
Guidelines for All Phases: Individuals
Guidelines for All Phases: Employers
Phase One – For States and Regions that Satisfy the Gating Criteria
Phase Two – For States and Regions with No Evidence of a Rebound and that Satisfy the Gating Criteria a Second Time
Phase Three – For States and Regions with No Evidence of a Rebound and that Satisfy the Gating Criteria a Third Time
SPECIAL REPORT: [UPDATED] The “Coronavirus Effect” on Cook County Property Values
April 15, 2020
We revisit our April 7, 2020 Special Report to provide some new and additional information on the reassessments by the Cook County Assessor’s Office.
SPECIAL REPORT: Status of Federal Unemployment Benefits
April 14, 2020
Federal Pandemic Unemployment Compensation (FPUC)
Pandemic Unemployment Assistance (PUA)
Pandemic Emergency Unemployment Compensation (PEUC)
SPECIAL REPORT: Deferral of Social Security Payroll Tax
April 13, 2020
A brief summary setting additional information regarding the deferral of Social Security Tax under the CARES Act, as well as what employers partaking in Paycheck Protection Program (“PPP”) need to know
SPECIAL REPORT: What is Happening to my Case During the Pandemic?
April 13, 2020
United States District Court Northern District of Illinois
Circuit Court of Cook County
First Municipal District
Law Division
Chancery Division
Probate Division
SPECIAL REPORT: What Do the New Federal Reserve Programs Mean for You?
April 10, 2020
Main Street Lending Program
Paycheck Protection Program Liquidity Facility (PPPLF)
Term Asset-Backed Securities Loan Facility (TALF)
Municipal Liquidity Facility
Primary Market Corporate Credit Facility (PMCCF)
Secondary Market Corporate Credit Facility (SMCCF)
Conclusion
SPECIAL REPORT: The ‘Coronavirus Effect’ on Cook County Property Values
April 7, 2020
A brief summary regarding the reassessments on property values being done by the Cook County Assessor’s office
SPECIAL REPORT: Unemployment Filing Guidance
April 6, 2020
Qualifying for Unemployment Benefits
Filing for Unemployment Benefits
Information Needed to File Application
Federal Stimulus Package Unemployment Benefits
Individuals with Exhausted Benefits
Self-Employed Workers, Freelancers and Independent Contractors
SPECIAL REPORT: Interim Authority to Execute Certain Legal Documents During the COVID-19 Pandemic
April 3, 2020
Remotely Executing Legal Documents
Remote Notaries
Requirements
April 3, 2020
Renters and Homeowners
State Banks and Credit Unions
Loan Guidance
Student Loans
Office Closures
Debt Collection
Credit History
Vehicle Repossessions
Professional Licenses
SPECIAL REPORT: What Is Forgiven Under the Paycheck Protection Program Loans
April 2, 2020
(Defining) Payroll Costs
Calculating Payroll Taxes
How is Forgiveness Reduced
Reduction based on Reduction of Number of Employees
Reduction based on Reduction in Salaries
Payroll Tax Deferral
SPECIAL REPORT: What's Next for Insureds and Insurers?
April 1, 2020
A brief summary of the current state of business interruption coverage and civil authority insurance coverage resulting from the COVID-19 pandemic.
SPECIAL REPORT: COVID-19 and Guidance on Small Business Loans
March 31, 2020
Is my business eligible
What will Lenders be looking for
How much can my business borrow
Is there any loan forgiveness and, if so, how much
What are triggers for reducing the loan forgiveness
How do I apply for loan forgiveness
What’s next
SPECIAL REPORT: City of Chicago Resources
March 31, 2020
Chicago Small Business Resiliency Fund
Construction – Essential Service
Unemployment Issues – Emergency Rules
Chicago Community COVID-19 Response Fund
March 30, 2020
Keeping America Workers Paid and Employed Act
Changes to the Bankruptcy Code
Assistance for American Workers, Families, and Businesses
Unemployment Insurance Provisions
Recovery Rebates & Other Individual Provisions
Special Rules for Use of Retirement Funds
Charitable Contribution Provisions
Business Provisions
SPECIAL REPORT- [UPDATED] Coronavirus Considerations for those Engaged in Commercial Real Estate
March 27, 2020
Health Guidelines
Force Majeure
Doctrine of Impossibility
Doctrine of Commercial Frustration
Default Considerations under Loan Documents (UPDATED)
Crises Coverage Limitations of Business Interruption Insurance (UPDATED)
Rent Loss Insurance Policy Coverage
Guidance for Employers and Employees
Families First Coronavirus Response Act
SPECIAL REPORT: Economic Relief In Light of The COVID-19 Pandemic
March 26, 2020
Economic Injury Disaster Loans
H.R. 6074. Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020
H.R. 6201. Families First Coronavirus Response Act
The Emergency Family Medical Leave Expansion Act
Emergency Paid Sick Leave Act
Tax Credits for Paid Sick and Paid Family and Medical Leave
Emergency Unemployment Insurance and Stabilization and Access Act of 2020
Federal Worker Adjustment and Retraining Notification Act (WARN)
H.R. 748. Coronavirus Aid, Relief and Economic Security (CARES) Act
Income Tax Filing & Payment Extension
SPECIAL REPORT: Coronavirus Considerations for those Engaged in Commercial Real Estate
March 17, 2020
Health Guidelines
Force Majeure
Doctrine of Impossibility
Doctrine of Commercial Frustration
Default Considerations under Loan Documents
Limitations of Business Interruption Insurance
Rent Loss Insurance Policy Coverage
Guidance for Employers and Employees
Families First Coronavirus Response Act
SPECIAL REPORT: COVID-19 (CORONAVIRUS)
March 3, 2020
Interim guidelines on prevention and notice
Please visit our regularly updated News Page for additional resources intended to help guide you and your business through these difficult and ever changing times.
We would like to say thank you to all of our team members that have been working diligently on researching, writing, editing and publishing the Special Reports. They have been working hard to keep you as informed as possible in this ever changing landscape. Special thanks to Tomasz Sobieraj, Audrey Gamble, Tara Coffman, Leona Kuhar, Nathan Ciulla, Kiran Sulaiman, Alex Norlander, Robert Tepper, Andrew Annes and John Campbell. We also say thank you to all of the essential workers who are making sure that we are safe and protected as we stay home to stay safe.
Other Resources:
Worldwide:
World Health Organization
Federal:
White House
Center for Disease Control (CDC)
U.S. Small Business Administration (SBA)
U.S. Chamber of Commerce
U.S. Department of Labor
U.S. Department of the Treasury
State Resources:
Illinois
State of Illinois
Illinois Department of Employment Security (IDES)
Illinois Department of Financial and Professional Regulation (IDFPR)
Cook County
DuPage County
Lake County
City of Chicago
Chicago Small Business Resiliency Fund
Illinois Downstate Small Business Stabilization Programs
Illinois Small Business Emergency Loan Fund
Illinois Department of Commerce - Phase 3 Business Guidelines