On Wednesday, June 3, 2020, the Paycheck Protection Program Flexibility Act of 2020 was approved by both houses of Congress and submitted to the President for signature. The legislative intent of the Act being to offer new and existing borrowers greater flexibility with respect to forgiveness eligibility and, ultimately, repayment of their PPP loans.

Shareholder Natalie Wilson’s husband, Stuart “Chad” Wilson, GCPM, GCIH, GSEC and his squadron stepped up to help amid the COVID-19 pandemic with 3D printing of face shields for medical professionals on the front lines of the coronavirus battle.

For banks whose parent bank holding companies have outstanding bank stock loans, removing problem assets from the balance sheet may also enable the holding company to satisfy certain financial covenants contained in the loan documents where it otherwise might not have been able to do so.

Turning to technology to connect family and friends during a celebration of life amid COVID-19, Mission Park now uses electronic billboards outside to broadcast a loved one’s celebration of life inside so family and friends can remember and honor those they hold dear. Owners Dick and Kristin Tips are also producing a 30-minute weekly television…

Shareholders Joyce Moore, Chris Hodge and Tanya Feinleib will present their papers for the 2020 Intermediate Estate Planning and Probate conference held by the TexasBarCLE June 2nd via webinar.

Clay is a recent graduate of Baylor Law School and clerked at Langley, Banack & Pfeuffer in the summer of 2019.

“We made our first delivery of 344 pounds of food on Monday, April 20. My neighbors, friends, and colleagues responded multiple times a day with drop-offs of full grocery bags.”

So many of our clients are working hard to support clients, employees, friends and neighbors through this crisis, and we want to know how you are encouraging, advocating for, and lifting up those in need. If you have a story to share, big or small, please send it to us.

Shareholder Bill Sommers co-presented “COVID-19 (a/k/a) Coronavirus: The Project Plague – Legal Checklists for Risks, Problems and Concerns” at a webinar hosted by the Construction Law Foundation of Texas on April 8, 2020.

Almost every contract and lease contains a provision that says it terminates immediately if one of the parties files for bankruptcy. That provision is ubiquitous, but it is unenforceable under the Bankruptcy Code.

On Wednesday, April 1, the Department of Labor published its temporary rule offering additional guidance on the Emergency Paid Sick Leave Act (EPSLA) and Emergency Family and Medical Leave Expansion Act (EFMLEA) that were established under the Families First Coronavirus Response Act, passed into law on March 18, 2020.

Bankruptcy is a unique process with some strict deadlines and procedural requirements. If you are a creditor in bankruptcy, we recommend that you consult with an attorney who specializes in bankruptcy law to determine how you might maximize your recovery from the debtor.