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Navigating Uncertainty

Legal risks associated with PPP loan applications

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10:00 am PST / 1:00 pm EST, Tuesday, May 12, 2020

About this panel

About

In this follow up to our CARES Act session, we will hear from Annie Railton, Partner, Goodwin Law, who specializes in white-collar criminal defense, and government civil investigations and enforcement proceedings. Thejo Kote CEO, Airbase, will moderate the session which will consider the legal risks associated with companies applying for loans under the CARES Act.  

The Payroll Protection Program raises important legal questions for companies that have applied for funds, even those that may have returned funds or are planning to repay them. Our panelist will provide important insight into the False Claims Act and how it is used to bring cases against companies that accept government funds outside of full compliance.

For companies that have applied for PPP government funds or are considering doing so, there are ways to prepare for long term exposure to legal scrutiny. We will discuss how legal liability is created for individuals, company management, board members, and even investors when an application is made and what can be done to mitigate that risk. 

We will also cover the additional clarity being provided by the SBA around the interpretation of “necessity” and their decision to extend the safe harbor period for PPP applicants to return funds. Our expert will describe the incentives and landscape for oversight by various entities including the Department of Justice, CARES Act oversight bodies, and whistleblowers.

What you’ll learn

  • What the False Claims Act is and how it applies to PPP loans.
  • The current understanding of the standard for “necessity”.
  • How applying for PPP loans creates legal risk.
  • Who is at risk from legal action.
  • How, when, and by whom legal claims are brought against a company.
  • What companies can do to prepare for legal scrutiny.
  • What companies can do to mitigate legal risk associated with a PPP application.

Speakers

Anne Railton
Anne Railton

Anne Railton

Anne Railton

Partner at Goodwin Law
Annie Railton focuses her practice on white collar criminal defense, government civil investigations and enforcement proceedings, internal investigations, and complex commercial litigation. Her representations include criminal and civil matters related to healthcare fraud, bribery and kickbacks, False Claims Act violations, securities fraud, insider trading, and tax fraud. Ms. Railton also provides regulatory compliance counseling and advises companies on the development and implementation of appropriate risk management policies and procedures, including related to healthcare compliance, the False Claims Act, and insider trading.
Thejo Kote
Thejo Kote

Thejo Kote

Thejo Kote

A seasoned entrepreneur, Thejo is the founder and CEO of Airbase, the cloud-based spend management platform for growing companies. Prior to Airbase, Thejo co-founded Automatic which was acquired by SiriusXM in 2017.
A seasoned entrepreneur, Thejo is the founder and CEO of Airbase, the cloud-based spend management platform for growing companies. Prior to Airbase, Thejo co-founded Automatic which was acquired by SiriusXM in 2017.

What you’ll learn

  • What the False Claims Act is and how it applies to PPP loans.
  • The current understanding of the standard for “necessity”.
  • How applying for PPP loans creates legal risk.
  • Who is at risk from legal action.
  • How, when, and by whom legal claims are brought against a company.
  • What companies can do to prepare for legal scrutiny.

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