Rimon

USCIS Issues Clarifying Guidance for Redeployment of EB-5 Capital

Insight Debbie A. Klis Debbie A. Klis · July 30, 2020
USCIS issued a policy alert (PA-2020-11) (the “Policy Alert”) on July 24, 2020, to disclose recent amendments to its internal policy manual governing the “redeployment” of EB-5 capital. The Policy Alert applies expressly to all Form I-526 and Form I-829 petitions pending on or after the date of publication. The Policy

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Client Alert: Main Street Lending Program

Insight Juan Zuniga Juan Zuniga · Isabella Dominguez Isabella Dominguez · July 13, 2020
Updated July 10, 2020 The Main Street Lending Program (“MSLP”), created by the CARES Act and incorporated into Section 13(3) of the Federal Reserve Act, will provide a total of $600 billion in financing for small and medium-sized businesses affected by the coronavirus pandemic. Using funds allocated by the CARES Act, the Federal

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Rimon Partner Joe Rosenbaum featured in the Cyberspace Lawyer with article, “Managing Contract Risks & Remedies in a Time of Coronavirus”

Insight Joseph I. (“Joe”) Rosenbaum Joseph I. (“Joe”) Rosenbaum · July 02, 2020
Joe Rosenbaum's article "Managing Contract Risks & Remedies in a Time of Coronavirus", featured in the Thomson Reuters publication Cyberspace Lawyer, Volume 25, Issue 5. Read the publication below. Joe Rosenbaum is a New York‐based partner at Rimon, P.C. and Chair of Rimon’s Global Alliance.  Rimon is an innovative and

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United States Supreme Court Opinions in Seila Law v. Consumer Financial Protection Bureau and Bostock v. Clayton County

Insight John R. Mussman John R. Mussman · July 01, 2020
June 30, 2020 In the last two weeks, the United States Supreme Court has issued two opinions that may have an impact on banks, financial institutions and other financial service companies: Seila Law, issued June 29, 2020, will have an impact on the leadership structure of the CFPB, and perhaps ultimately the Federal Home Finance Agency (FHFA).

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Enterprise Playbook: Legal Challenges & Customer Relations During COVID-19

Insight Dror Futter Dror Futter · June 22, 2020
Rimon Partner Dror Futter was recently featured in venture fund Work-Bench’s Enterprise Playbook Series. In his article, Dror covers topics such as: How to best handle customer and contract evaluation, contract renegotiation, contract renewal, contract termination, handling non-paying customers, and force majeure. Read more here. Dror

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Ninth Circuit Questions Whether Litigation Funding Advances Made Against a Portfolio of Cases Runs Afoul of New York Usury Laws

Insight John J. Hanley John J. Hanley · Douglas J. Schneller Douglas J. Schneller · June 18, 2020
No Sure Thing! Ninth Circuit questions whether litigation funding advances made against a portfolio of cases runs afoul of New York usury laws. On June 11, 2020, the U.S. Court of Appeals for the Ninth Circuit certified a question for the New York Court of Appeals: whether a litigation financing agreement qualified as a “loan” or

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“Real Estate Private Equity Investments: Types of Structures” featured in Lexis/Nexis by Debbie Klis

Insight Debbie A. Klis Debbie A. Klis · June 15, 2020
This practice note discusses the various private equity investment structures available to investors seeking to invest in real estate in the United States. Investors may select a direct or indirect ownership structure of their investment, which owns a single or multiple properties in a single asset class or multiple classes. There is a myriad of

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New Amendment to PPP Loan Forgiveness terms

Insight Juan Zuniga Juan Zuniga · June 09, 2020
On June 5, 2020, the new Paycheck Protection Flexibility Act (“PPPFA”) entered into law which materially changed certain terms of the Paycheck Protection Program previously created under the CARES Act. The emphasis of the PPPFA is to ease the criteria that small business borrowers must comply with to have their PPP loans forgiven.

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Two Special Trusts to “Stretch” IRAs

Insight Brent Nelson Brent Nelson · June 08, 2020
After the SECURE Act, most IRA beneficiaries are required to withdraw the balance of the account within 10 years after the owner’s death. The details of those rules can be found in Brent's prior post here. In that post, Brent also introduced the concept of using an Accumulation Trust (i.e. a trust as beneficiary of an IRA

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IRS Provides Several Items of Relief Benefiting Qualified Opportunity Funds and their Investors

Insight Debbie A. Klis Debbie A. Klis · June 05, 2020
On June 4, 2020, the Internal Revenue Service (IRS) released Notice 2020-39 that contains relief for several of the time-sensitive requirements for qualified opportunity funds (QOFs) and for taxpayers who invest capital gains in qualified opportunity zones (QOZs).  The QOZ program designates economically-distressed communities (more than

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