As if the global pandemic was not enough to cause franchisors and their attorneys heartburn, the North American Securities Administrators Association released a commentary titled “Disclosing Financial Performance Representations in the Time of COVID-19” to add another spice to the stomach turning situation. While it provides franchisors with recommendations on evaluating existing FPRs,
Are COVID Immunity Laws Good for Franchising?
(This post solely reflects the views of the author, and not that of Fox Rothschild or any of its other attorneys.)
While I am not opposed to immunity laws generally, I am not fan of immunity that is too broad. Given that stance, I have grave concerns about the liability protections and COVID immunities being
HEROES + HEALS = ?????: COVID Relief 3.0 is a Mystery
This is like watching sausage being made – it isn’t pretty. The House passed its $3 Trillion COVID rescue package (the HEROES Act) about a month ago. But the Senate’s HEALS Act is still a work in progress with an unpredictable future. And of course the internally split Senate must negotiate final legislation with
The Green Phase Rules Have Changed in Pennsylvania
I blogged a while ago about the Green Phase of reopening in Pennsylvania, and how it did not mean “go” but something more nuanced. Something like “proceed with caution”. Today, Governor Wolf called for even more vigilance, out of concerns based on modeling done by Children’s Hospital of Philadelphia showing that the coronavirus is
Pennsylvania: “Green” Reopening Phase Does Not Mean “GO!”
Memorial Day 2020
Longtime readers of this blog know that Memorial Day is special around here. Memorial Day, of course, is the day established by General John A. Logan, Commander in Chief of the Grand Army of the Republic, when we pause to remember, and honor, those who gave, as Abraham Lincoln so eloquently expressed it,
What the Heck Does Yellow Phase Re-Opening Mean (Pennsylvania)? (Updated 5/31/20)
Let’s posit you have operations in Pennsylvania, where I live, and those operations are in located in one of the Northcentral or Northwestern Counties (including Erie) that went to Yellow Phase on May 8th, one of the Southwestern Counties
ACT NOW!!! New PPP and EIDL funds will disappear FAST
Yesterday, legislation adding an additional $310 Billion to the Payroll Protection Program (PPP) and $50 Billion to the Economic Injury Disaster Loan (EIDL) funds passed the Senate, and passage in the House is imminent. But the new funds will disappear quickly!
The original massive PPP and EIDL appropriations evaporated in less than two weeks. Although
FDD Item 19 Financial Performance Representations in the Age of COVID-19
With most non-essential businesses closed across the country, it is easy to forget we are two weeks away from the April 30th Franchise Disclosure Document (FDD) update deadline for franchisors with a calendar fiscal year end. Some franchise systems are delaying the preparation and issuance of an updated 2020 FDD and corresponding state renewal registrations.
A Rough Roll-Out for Payroll Protection Loans
Need and speed can be a dangerous combination. Just ask Peter “Maverick” Mitchell. That’s a lesson that lenders and borrowers are discovering with CARES Act Payroll Protection Program (PPP) loans. The CARES Act’s PPP provisions promise accessible liquidity support for franchises and small businesses. Indeed, Treasury Secretary Mnuchin said PPP or Emergency Income