COVID-19: Important Resources

Evolving guidance on issues related to the coronavirus pandemic.

A new business reality

Choate’s COVID-19 Client Advisory Resource is a collection of alerts, advisories, and resources —all of which are intended to help our clients maintain key operational and business functions, despite pressing challenges related to the COVID-19 outbreak.

Choate partners and principals are available to help you digest and assess the impact of COVID-19 and navigate the potential effects of the outbreak on your businesses. We invite you to bookmark and return to this page as attorneys from across the Firm issue new advice and insights. Please contact the authors of each article below or your regular Choate contacts directly to answer your COVID-19-related questions.

Investment Guidance from ChoateIA

Our colleagues at ChoateIA have been communicating with clients on evolving market conditions and ways to mitigate loss during and after the COVID-19 pandemic.

March 10th Update - A Growing Pandemic

March 17th Update - Increasing Market Volatility

March 23rd Update - Weathering Volatile Markets

March 31st Update - The Unfolding Economic Impact

April 6th Update - Examining the Road to Recovery

April 14th Update - Stock Valuations Amid Uncertainty

April 21st Update - Turmoil in the Oil Market

April 27th Update - Investment Implications of China’s Reopening

May 4th Update - Searching for Balance in an Uneven Recovery

May 11th Update - China’s Ongoing Economic and Political Developments: a podcast with ChoateIA featuring Andy Rothman, Investment Strategist at Matthews Asia

May 19th Update - Navigating an Uneven Market

June 1st Update - Examining the Economics of a Complicated Recovery

June 26th Update - Long-Term Stock Investing in a Noisy Market

August 25th Update - Applying Investment Insights from the Keynes Era

September 10th Update - Where do we go from here?

Borrowers Beware: US Attorney Announces New Initiative to Combat CARES Act Fraud

Those who sought loans in connection with the Coronavirus Aid, Relief, and Economic Security Act of 2020 should take note that on July 28, 2020, the U.S. Attorney’s Office in Massachusetts announced a new law enforcement collaboration focused on combatting CARES Act fraud.

To read the alert, please click here.

Update on the Coronavirus Oversight and Recovery Ethics Act of 2020

On June 15, 2020, lawmakers in the United States Senate introduced the Coronavirus Oversight and Recovery Ethics Act of 2020 (CORE Act). This legislation contains provisions that would protect whistleblowers who are retaliated against for raising concerns related to the misuse of federal funds in COVID-19 relief programs and reports of danger to public health or safety.

To read the alert, please click here.

Director Fiduciary Duties: Additional Risks in Times of Financial Distress

Our Private Equity Group provides practical guidance for directors of companies incorporated under Delaware law, particularly in the context of a business that is or may become insolvent.

To read the alert, please click here.

Estate Planning During the COVID-19 Pandemic – Challenges and Opportunities

Our Wealth Management Group outlines a new Massachusetts law that allows Massachusetts-based clients to sign and notarize their estate planning documents remotely during the pandemic, and highlights three common planning techniques that are especially effective in the current market environment.

To read the alert, please click here.

Fed Expands and Releases New Details of Main Street Lending Program

On April 30, 2020, the U.S. Federal Reserve published an FAQ and revised term sheets with new details regarding the Main Street Lending Program, including expanded eligibility for program loans and a new loan category.

To read the alert, please click here.

Massachusetts Statewide Moratorium on Evictions and Foreclosures During COVID-19 Now Effective

On April 20, 2020, Governor Baker signed into law “An Act providing for a moratorium on evictions and foreclosures during the #COVID19 Emergency.” The new law puts a temporary moratorium on non-essential evictions of residential and small business tenants. For residential mortgages, the law places a temporary restriction on foreclosures and mandates temporary loan forbearance.

To read the alert, please click here.

How to Respond Effectively to Increasing COVID-19 Whistleblower Claims

In order to avoid potential liability to increasing whistleblower claims employers should ensure that frontline managers are trained both in how to receive a complaint and in how to avoid retaliation.

To read the alert, please click here.

Overview of Tax Credits Available to Employers Under the Families First Coronavirus Response Act and the Coronavirus Aid, Relief and Economic Security Act

Choate’s Tax Group provides guidance on refundable tax credits that are available to employers under the Families First Coronavirus Response Act and the CARES Act.

To read the alert, please click here.

Federal Reserve Releases Preliminary Details for Main Street Lending Program

On April 9th, the U.S. Federal Reserve announced preliminary terms for its Main Street Lending Program authorized by the $2.2 trillion economic relief bill passed by Congress last month. This program will provide additional avenues for relief for American businesses, including some of those excluded from the Paycheck Protection Program, as they deal with the COVID-19 pandemic.

To read the alert, please click here.

CARES Act Changes Relevant to High Net Worth Individuals

Several provisions of the new COVID-19 relief legislation signed on Friday, known as the CARES Act, will be useful for high net worth clients. Choate’s Wealth Management Group describes two of the most relevant CARES Act provisions, as well as three pre-existing planning techniques that are even more attractive in the current environment.

To read the alert, please click here.