June 30, 2023

Gibney Expands Business Practice with New Partner Danila Duo

Gibney is pleased to announce the expansion of its domestic and international Business Practice with the addition of a new partner. Danila Duo joins the firm’s New York office to expand Gibney’s international practice.

Danila’s practice focuses on corporate law with an emphasis on commercial and corporate cross-border transactions, including mergers, acquisitions and joint ventures. She also provides general legal support to Italian and international companies seeking to enter or expand their presence in the US and to US clients investing in Italy and worldwide.

Corporate work has been a cornerstone of Gibney throughout its history. Having represented entrepreneurs and start-up businesses for decades, Gibney has formed the US subsidiaries of some of the world’s largest and most recognizable companies, guiding them from emerging businesses through their growth into international prominence and serving as their outside general counsel.

“We are excited to have Danila join Gibney” said Robert Okulski, Gibney’s managing partner. “With almost two decades of combined law firm and in-house experience between the United States and Italy, Danila has a unique business approach to the practice of law that perfectly aligns with our vision. As we expand our global reach, Danila will be a key asset in the expansion of our international practice, which will create a natural synergy with our Emerging Business Practice.

“I couldn’t think of a better platform for my international clients,” said Danila. “For most of them, the old legal model is outdated and I’m excited about Gibney’s business-friendly approach that allows effective partnership and integration with our clients and their in-house legal teams.”

Gibney, Anthony & Flaherty, LLP is a full-service commercial law firm with offices in New York and San Francisco. Our unique blend of resources, experience and talent enables us to resolve the complex issues facing our clients with a personal and measured touch. We approach each matter as an opportunity to foster genuine, long-term relationships. We strive fully to understand our clients’ concerns and objectives and collaborate with them through every step in the process. This synergistic approach empowers us to create tailored and innovative programs. Practice areas include business and emerging business, immigration, intellectual property, employment, litigation, real estate, tax and employee benefits.

October 14, 2021

Gibney Participates in InnovateNordics Summit 2021 for Emerging Businesses

Gibney is partnering with the Swedish American Chamber of Commerce for the InnovateNordics Summit 2021 & U.S. Acceleration Program on October 15, 2021.

InnovateNordics showcases top innovators focused on tackling today’s most pressing challenges while creating business and growth within the areas of clean- and foodtech from the collective Nordics including Sweden, Norway, Denmark, Finland and Iceland. The program is a deep dive into the tools and tricks for effective U.S. establishment and growth.

Gibney will discuss U.S. legal issues for emerging businesses. Attorney speakers include:

  • David Johnson – Immigration
  • Kristen Smith – Corporate
  • Maja Szumarska – Intellectual Property
  • Robert Tracy – Employment

Learn more.

April 3, 2020

The CARES Act: Loan Program Options for Small Businesses to Consider

On March 27, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to alleviate the economic impact of COVID-19 on both individuals and businesses. The legislation provides economic assistance to small businesses through several Small Business Administration (SBA) program options.

Paycheck Protection Program Loans

The Paycheck Protection Program prioritizes Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. The program provides qualified small businesses with loans of up to $10 million. The program is retroactive to February 15, 2020 to help bring workers who may have already been laid off back onto payrolls. Loans are available through June 30, 2020.

Who is Eligible?

Qualifying businesses in all U.S. states and territories:

  • Businesses, nwith 500 or fewer employees
  • Certain businesses with greater than 500 employees in certain industries, including the hotel and food industry
  • Sole proprietors and independent contractors
  • Approved franchises listed on the SBA’s registry
  • Businesses receiving funding through a Small Business Investment Company

Guidelines for Loans

  • Loans are up to two months of average monthly payroll costs from the last year plus an additional 25%
  • Maximum loan amount up to $10 million
  • Loans will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent and utilities however at least 75% of the forgiven amount must have been used for payroll
  • Payroll costs must not exceed $100,000 of annual compensation per employee
  • Initial loans have a maturity of 2 years and an interest rate of 1% (loans past the initial term have interest rates capped at 4%)
  • No collateral or personal guarantees are required
  • First payment deferred for six months
  • No borrower or lender fees payable to SBA as before

How to Apply

Small businesses and sole proprietors can apply starting April 3. Independent contractors and self-employed workers can apply starting on April 10.

Applications can be made through any existing SBA lender or federally insured depository institution or credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. Visit www.sba.gov for a list of SBA lenders.

For more information on the program including forms and the interim final rule, please visit the U.S. Department Treasury site. The rules and details remain in flux, so please check back often for additional changes and updates.

Economic Injury Disaster Loans and Loan Advances

The CARES Act expands the Small Business Administration’s long-standing Economic Injury Disaster Loan Program (EIDL) to offer financial support to more businesses experiencing reduced revenue due to the pandemic. Historically, the SBA has offered disaster relief assistance to businesses, homeowners and renters in specific areas where federally declared disasters occurred however, companies in all states and U.S. territories can now apply.

Who is Eligible?

  • Businesses with fewer than 500 employees
  • Cooperatives, ESOPs, and tribal small businesses with fewer than 500 employees
  • Sole proprietors, independent contractors and self-employed persons
  • Nonprofits and veterans organizations

Guidelines for Loan Advances

  • Loans are available up to $2 million to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact
  • The interest rate is 3.75% for small businesses and 2.75% for non-profits
  • Long-term repayments can be up to a maximum of 30 years and are determined on a case by case basis
  • Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay
  • Payments on COVID-19 EIDL loans are deferred for one year
  • Borrowers do not have to prove they could not get credit elsewhere

How to Apply

The SBA offers additional information and details on the SBA site. Unlike the PPP loans, the EIDL submissions are made to SBA, not the banks directly.

Determining the Best Option for Your Business

Every business should consider the various assistance programs available to determine which may work best for both short- and long-term business planning. Remember that many states are also offering loans, grants and incentive programs. Consider all qualification criteria, terms and repayment options.

For questions or more information, please reach out to your Gibney contact or email info@gibney.com.

June 4, 2019

David Johnson and Kristen Smith Present Starting a Business in the US for Emerging Businesses

Immigration Partner David Johnson and Corporate Partner Kristen Smith will present “Starting a Business in the US: Strategies for Foreign Entrepreneurs & Entities” to members of the Belgian-American Chamber of Commerce (BelCham) on June 5. As part of Netwerk Ondernemen’s “BOOST ME” program (4-month startup accelerator), a group of Belgian founders will join BelCham for three intense days in NYC to learn first-hand about the American mindset of winning and get the tools needed to fast-track international growth. This event will be hosted at Gibney. The presentation will cover corporate and immigration best practices for emerging businesses.

About Emerging Business
Having represented entrepreneurs and start-up businesses for decades, Gibney’s Emerging Business Group guides entrepreneurs though all stages of the start-up and business lifecycle. Uniquely structured to serve the full spectrum of our clients’ needs efficiently under one roof. Learn more.

Manufacturing Success

Challenge

As a growing manufacturing company, our client required ongoing commercial business advice and solutions to support its expansion. We served as outside general counsel to the company as it developed into an industry leader with over a dozen facilities in the U.S. and Mexico.

Solution

We represented the company through multiple rounds of bank financing, and drafted and negotiated the required documentation. We maintained the corporate books and records for the company and assisted in various day-to-day transactions.  Over the years, we developed a deep understanding of the company’s industry sector, business and objectives, and advised the management team on strategic decisions.  In 2018 we represented the company in its sale for over $250 million.