Monthly News For May, 2020

Complete Cessation of Business Required For Business Interruption Claims

Posted on in Insurance, News
Complete Cessation of Business Required For Business Interruption Claims

Ohio now defines “necessary suspension” to require complete shutdown of all business activities to trigger lost business income coverage. Hastings Mut. Ins. Co. v. Mengel Dairy Farms, LLC, U.S.D.C., N.D., Case No. 5:19CV1728. In a case of first impression in Ohio, with potentially wide application to COVID-19 business interruption claims, Weston Hurd’s Randy Taylor and Ron Rispo secured a favorable ruling regarding […]

PPP Loan Forgiveness Application

PPP Loan Forgiveness Application

On May 15, 2020, the U.S. Small Business Administration (SBA) announced its long-awaited forgiveness rules through the release of the PPP Loan Forgiveness Application. The application and accompanying instructions specify how loan recipients can apply for PPP loan forgiveness and allow companies to complete the detailed calculations to determine forgiveness amounts. The 11-page application package summarizes eligible and […]