H.R. 1319 Title V, Sec. 5003 Through the Restaurant Revitalization Fund, the federal government has finally tried to target specific economic relief to the struggling hospitality sector, specifically restaurants, bars, and entertainment venues. Prior to the Restaurant Revitalization Fund, the second draw of the Paycheck Protection Program (PPP),… Read More
On December 27, 2020, the second CARES Act was signed into law, providing an additional $900 billion in pandemic relief. Less publicized are several changes the Act made to the United States Bankruptcy Code that are applicable to commercial landlords, tenants, and suppliers. A summary of these changes follows: Altered… Read More
Robert Stetson, a partner at the law firm Bernkopf Goodman LLP, has been named to the firm’s executive committee. In the role, he will work with the committee to establish and execute the firm’s overall goals, finances, priorities, and culture. Stetson, a member of Bernkopf Goodman’s litigation group, combines hard… Read More
In recently signing legislation providing for $626.5 million to be spread around the Massachusetts economy over the next five years, Governor Baker exercised his pocket veto to strike certain provisions within House Bill 5250 (https://malegislature.gov/Bills/191/H5250). Bill H.5250 included a controversial provision that would have granted tenants a right of… Read More
The CARES Act provided that PPP loan funds that are forgiven will not be included in gross income for tax purposes (contrary to the general tax rule that forgiveness of indebtedness is included in a taxpayer’s gross income). The $900 Billion COVID-19 Relief Bill that became law in late December… Read More
Governor Baker has targeted small businesses in Massachusetts since October 2020 with the Massachusetts Growth Capital Corporation’s initial funding, but previous stimulus money and budget allocations were insufficient to keep up with the need. Effective immediately, Governor Baker is now allocating more funds to help restaurants, bars, and other small… Read More
In a case of first impression in Massachusetts, Suffolk Superior Court Judge Michael D. Ricciuti has ordered a real estate developer to pay its general contractor $4,600,109.24 within 45 days as a consequence of the developer’s failure to comply with the Massachusetts Prompt Payment Act, G.L. c. 149, § 29E… Read More
Mayor Marty Walsh has announced three new funds to distribute $6 million of federal aid to small Boston businesses, but the deadline to apply is one week away. This welcomed aid from the Mayor’s Office of Economic Development is designed to provide rent relief to small businesses, grants to minority-,… Read More
If you’re a small business that must physically engage closely with the public through a direct service and have 25 or fewer employees with a brick and mortar space in the City of Boston (excluding chain or corporate franchises), you may be eligible for a grant. The Reopen Boston… Read More
Today, Governor Charlie Baker extended the pause on evictions and foreclosures for 60 days, until October 17, 2020, through the authority granted to him by Chapter 65 of the Acts of 2020, An Act providing for a moratorium on evictions and foreclosures during the COVID-19 Emergency, which was signed… Read More