Stites & Harbison provides advice on corporate and commercial matters to a number of the region's leading businesses. The firm's lawyers understand the importance of knowing their client's business. The firm advises its clients on business structure, labor, employment and employee benefit matters. Stites & Harbison's lawyers have dealt with venture capital, private placements, initial public offerings, recapitalization and various forms of debt and equity issues. Working closely with accountants and other professional advisors, the firm offers its clients the benefits of its experience with business entities of varying sizes, market segments and stages of growth. The firm's lawyers have considerable experience with private entrepreneurs and growth-oriented companies during their transition from small, closely-held enterprises to large, publicly-held ones. As a result, Stites & Harbison understands how to assist clients in raising any additional capital required for growth and acquisition strategies.
Our corporate attorneys have experience handling sophisticated transactions for leading businesses in a variety of industries. This experience includes:
- Mergers and Acquisitions
- Trade Association Law
- Corporate Governance and Disclosure
The Consolidated Appropriations Act, 2021 (the “Appropriations Act”), one of the longest bills ever passed in the history of the U.S. Congress, was signed into law on December 27, 2020. This legislation provides approximately $900 billion in new stimulus funding, of which $284 billion has been allocated to the Paycheck Protection Program (“PPP”).
Time: 10:00 a.m.
Stites attorney Brian Cromer will be one of the speakers discussing what has changed for this new round of funding and how to make use of the Paycheck Protection Program.
The Associated General Contractors of America, Inc. (“AGC”), the U.S. construction industry’s largest trade association, has taken dead aim at the controversial Paycheck Protection Program (“PPP”) loan necessity questionnaire (the “Questionnaire”) that was recently introduced by the U.S. Small Business Administration (“SBA”) and the so-called PPP “necessity” certification (the “Necessity Certification”). The Necessity Certification is the SBA requirement that PPP loan applicants certify in good faith that economic uncertainty makes the loan request necessary to support ongoing operations.
LOUISVILLE, Ky.—Kentucky Governor Andy Beshear has appointed Stites & Harbison, PLLC attorney Tom Halbleib, Jr. as a member of the Kentucky Local Government Public-Private Partnership Board. He will serve a term expiring on August 1, 2024.
Time: 10:00 a.m.
Louisville office attorney Brian Cromer will be a panelist for this webinar discussing the Payroll Protection Program on September 11, 2020.
MEMPHIS, Tenn.—Stites & Harbison, PLLC attorney Herbert B. Wolf Jr. (Bert) has been named Office Executive Member for the Memphis, Tenn., office.
LOUISVILLE, Ky.—IFLR1000 has announced that Stites & Harbison, PLLC and attorney James C. Seiffert have been honored in IFLR1000 United States for 2020.
On August 12, 2020, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) delivered a harsh blow to lenders and consumers in the residential mortgage market when they announced they would impose a .5% fee (i.e., a 1/2 “point” in mortgage finance parlance) on refinance mortgages purchased by Fannie Mae and Freddie Mac after September 1, 2020.
Retirement plan sponsors and other fiduciaries are required by ERISA to discharge their duties with the “care, skill, prudence, and diligence” under the circumstances as would a prudent man. This means, among other things, fiduciaries should ensure that all fees paid by the plan for recordkeeping and investment management services are competitive and reasonable.
On July 27, 2020, Senator John Cornyn, for himself and Senate Majority Leader Mitch McConnell, introduced the SAFE TO WORK Act (the “Act”) as part of the Senate’s new $1 trillion stimulus proposal. This bill would provide significant liability protection for claims related to the coronavirus brought against businesses, educational institutions, health care providers, non-profits and government agencies.
LEXINGTON, Ky.—The Boyle County Industrial Foundation (BCIF) Board of Directors recently elected Stites & Harbison, PLLC attorney David Longenecker as a new director. He will serve a three-year term.
On Saturday, July 4, 2020, following a surprise vote by the U.S. Senate earlier in the week and quick passage in the House of Representatives, a bill extending the Paycheck Protection Program (“PPP”) loan application deadline from June 30, 2020 to August 8, 2020 was signed into law by the President. However, with a recently reported $130 billion out of the $669 billion in total funding allocated to this stimulus program still unspent, policymakers in Washington are considering whether these monies should be repurposed.
It is anticipated that the Community Development Financial Institutions Fund (“CDFI”) will announce $5 billion in New Markets Tax Credits (“NMTC”) allocation awards within the next several weeks.
On the evening of June 30, 2020, a few hours before the Paycheck Protection Program (“PPP”) loan application deadline was set to expire, the U.S. Senate unanimously passed a bill amending the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to extend the deadline from June 30 2020 to August 8, 2020.
Recently, the Federal Reserve initiated a new commercial lending facility that has been promised for months, the Main Street Lending Program (“MSLP”), consisting of three new loan facilities: the New Loan Facility, Expanded Loan Facility and Priority Loan Facility.
In connection with the application process for a Paycheck Protection Program (“PPP”) loan, borrowers are required to certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”
LOUISVILLE, Ky.—Chambers USA selected 19 Stites & Harbison, PLLC attorneys in Kentucky and Tennessee for inclusion in their 2020 guide.