PPP Support Boosted At Least 215 Regulation Corporations In Delaware

PPP Aid Boosted At Least 215 Law Firms In Delaware

By Jeff Montgomery

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Law360 (July 8, 2020, 9:50 p.m. EDT) –
Five law firms in Delaware – led by Maron Marvel, Morris James, and Potter Anderson – reportedly received between $ 1 million and $ 5 million in state paycheck protection programs this week, including 215 state law firms that are seeking to maintain at least $ 150,000 Jobs qualify company maintenance.

The recipients ranged from executives in corporate and commercial law practice to legal counsel in the community, personal injury and real estate practices, and older lawyers. Top of the list were Maron Marvel Bradley Anderson & Tardy LLC, Morris James LLP and Potter Anderson & Corroon LLP with $ 2 to 5 million, and Ashby & Geddes PA and Bayard PA with $ 1 to 2 million. according to the Small Business Administration.

Maron Marvel, a litigation and litigation firm with 12 offices in 10 states, reported in the government database that its loan was partially tied to maintaining 192 jobs, most of which were in Delaware.

Just behind and in the same category were Morris James, who found a potential retention of 162 jobs, and Potter Anderson, Delaware & # 39; s oldest law firm and one of the 10 oldest in the country. Potter Anderson, who is heavily focused on corporate and commercial law, reported that the support could help save 105 jobs.

The SBA's nationwide dataset has been released with edits and restrictions, with no precise bonuses omitted and the recipient's identity withheld for withdrawals of $ 150,000 or less.

One of the lists of recipients in Delaware was missing some of the largest and most influential corporate and commercial law firms operating in Delaware, including Skadden Arps Slate Meagher & Flom LLP; Richards Layton & Finger PA; The young Conaway Stargatt & Taylor LLP; Morris Nichols Arsht & Tunnell LLP; Wilson Sonsini Goodrich & Rosati PC; and Wachtell Lipton Rosen & Katz.

None of the companies contacted responded to requests for information on Wednesday.

Although many Delaware companies have not been named for Delaware awards, some practices in Delaware have emerged outside of the state.

Pachulski Stang Ziehl & Jones LLP, a leading insolvency administrator at the Delaware District Bankruptcy Court, received between $ 2 million and $ 5 million at its Los Angeles headquarters, although no job retention numbers were reported.

The majority of the companies in Delaware that received the support were located in and around Wilmington and its suburbs, though most of the state was represented.

Some companies also received funding in categories reserved for contract or consultancy work for public sector agencies, including government agencies, defense activities, and legal services. In this category was the Delaware Community Legal Aid Society Inc., which received a loan of $ 1 to $ 2 million. Delaware's Legal Services Corporation also received between $ 150,000 and $ 350,000.

– Edited by Abbie Sarfo.

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