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Your Daily Three: May 28


May 28, 2020

Read Time

1 minute


  1. Client Question: “I am a board member on a board of directors and am concerned that the COVID-19 pandemic has created new obligations for our board about which we might not be aware. What should we be thinking about?” Follow our list of best practices and ask yourself these questions. Answered by David Solomon
  1. Businesses – stay up to date on the latest rules & regulations from the Windy City. While warm weather has finally hit Chicago, Mayor Lightfoot, the City Council and the  Department of Business Affairs and Consumer Protection have not taken a spring break. In addition to creating reopening guidelines, the City has instituted new anti-retaliation provisions for employers, issued rules for implementing the upcoming Fair Workweek ordinance, and put forward new disclosure requirements for third-party food delivery companies. Read our recap of what your business needs to know. Authored by Becky Canary-King 
  1. Client Question:  “Does the rent paid to a landlord have to be from the period that the PPP was funded, or can it be for prior (past due rent) periods?  Said another way, I have no problem paying my past due rent – that landlord is demanding – but I want it to be from the PPP funds that are forgivable.  How do I do that?”  Know when nonpayroll costs must be incurred and/or paid to be eligible for forgiveness. Answered by Bill Schwartz

For more resources and LP’s response to COVID-19, visit this webpage.

Filed under: Corporate, Employment & Executive Compensation, Financial Services & Restructuring

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