WBEMZ&S Attorneys at Law

Westerman Ball Ederer Miller Zucker & Sharfstein, LLP is a full service commercial law firm with offices headquartered in Nassau County.  We offer a wide range of legal services in the areas of corporate and partnership law; litigation and alternative dispute resolution; real estate leasing, acquisition, sale, development and finance; bankruptcy, restructuring and workouts, and all related practice areas.

 

Recent News

  • CARES Act - Emergency Stimulus Legislation

    On Friday, March 27, 2020, President Trump signed and enacted phase 3 of federal stimulus legislation, called the CARES Act, to provide relief to businesses and individuals affected by the COVID-19 pandemic.

    One feature of the CARES Act- the Paycheck Protection Loan Program - is designed to provide relief to businesses with under 500 employees by providing 100% federally-backed loans equal to 2.5 times a borrower’s average monthly payroll costs, capped at a maximum amount of $10 million. All businesses of 500 employees or less which were operating and had paid employees on February 15, 2020 are eligible. The applicant is required to provide a certification attesting, generally, that the loan is needed to support ongoing operations during the COVID-19 pandemic, the funds will be used to retain workers, make payroll and meet operating expenses, and that duplicative amounts have not been received by the applicant under this program.

    The loans are non-recourse and do not require any guarantees or collateral.  The loan program is intended to assist eligible businesses in retaining employees by providing funds to pay operational costs and overhead such as payroll, rent, mortgage interest, health benefits, insurance premiums, and utilities.  Importantly, if the loaned funds are used to pay these permitted uses (subject to certain employee compensation phase outs) incurred within the 8 week covered period after the loan originates, the loan may be up to 100% forgivable. The amount to be forgiven is subject to certain reductions based on employee and payroll retention.  Any loan amounts not subject to forgiveness will be subject to be re-paid to the lender after a minimum 6 month deferral period at an interest rate which may not exceed 4%, without fees to a borrower.

    Although there are still many nuances that need to be clarified by additional guidance to be provided by the Treasury Department and the SBA, almost all businesses should consider whether they are eligible for the loan. 

    We have attached a summary providing further detail of this loan program.  Our Firm has and continues to advise and assist our clients and businesses of all types in navigating this new legislation and providing guidance on short-term funding and other needs during these trying times.

    For the CARES Act Emergency Stimulus Summary Click the Read More below

  • COVID-19 NOTICE

    Westerman Ball Ederer Miller Zucker & Sharfstein, LLP continues to operate during this challenging time. Our people are working remotely and can be contacted by telephone and email. Where possible please communicate with us by email rather than postal service, as this will enable us to deal with your correspondence promptly. 

    Best wishes and be well.

     

  • LEGAL ASSISTANCE FOR COVID-19

    IF YOU NEED COVID-19 LEGAL GUIDANCE OR ASSISTANCE IN LABOR LAW AND PROCEDURES DURING THIS TIME, PLEASE CONTACT US. 

    ALL OF OUR ATTORNEYS, WITH THE GUIDANCE OF OUR LABOR AND EMPLOYMENT LAW ATTORNEYS, ARE AVAILABLE TO ASSIST YOU.