August 10, 2020

Volume X, Number 223

August 10, 2020

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Department of Commerce Announces State Allocations of CARES Act Assistance for Coastal and Marine Fishery Participants

On May 7, 2020, Secretary of Commerce Wilbur Ross announced the allocation of $300 million in federal assistance to coastal states, tribes and territories for distribution to participants in the fishery industry who have been impacted by the COVID-19 pandemic. 

The relief is provided under Section 12005 of the Coronavirus Aid, Relief and Economic Security (CARES) Act.  Funding may be available to persons, fishing communities or businesses (including charter or for-hire fishing businesses, qualified aquaculture operations, processors or other fishery-related businesses) who have been negatively affected.  For purposes of this relief, businesses such as seafood restaurants, retailers and vessel repair companies do not qualify as eligible fishery participants.  The CARES Act provides that businesses who have sustained revenue losses of at least 35% compared to their prior five-year average may obtain funding. 

 Among the states receiving funding allocations are North Carolina ($5,460,385), Georgia ($1,921,832) and South Carolina ($1,525,636).

States will now work with the National Oceanic and Atmospheric Administration (NOAA) to develop plans to use and distribute the allocated funds.  Persons or businesses interested in seeking relief should contact their state marine fisheries management agency.

The summary of allocations and additional details from the NOAA as to the funding process are available here.  

Copyright © 2020 Womble Bond Dickinson (US) LLP All Rights Reserved.National Law Review, Volume X, Number 129

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Stephanie Few  Womble Dickinson Law Firm  Charleston SC Tax Law for Corporate Re locations
Partner

Investigate South Carolina’s largest economic development deals of the past 20 years, and chances are Stephanie Few played a role in making them happen. One of the biggest assets she brings to clients is her familiarity with local and state decision-makers throughout the Southeast, and particularly in South Carolina, where Stephanie had previously served as the City of Charleston’s Director of Economic Development. When the New York Times profiled Charleston’s economic development boom in 2017, Stephanie was one of the local leaders the Times turned to for insight.

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Mark P. Henriques, Womble Carlyle Law Firm, Jury Trial Attorney, Non-Compete Agreements Lawyer
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Mark has successfully litigated cases involving fraud, unfair trade practices, class actions, non-compete and non-disclosure agreements, and breach of contract. He has experience in state and federal court in both North and South Carolina. Mark has prevailed in numerous trials, arbitrations and mediations. Mark has served as first chair in more than eight jury trials, five of which lasted a week or more. He has successfully argued cases before the Fourth Circuit Court of Appeals and the North Carolina Supreme Court.

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Sarah J. Wilk Corporate Attorney Womble Bond Dickinson Boston, MA
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Sarah focuses her practice on a broad range of general corporate matters, including, mergers and acquisitions, corporate finance transactions, corporate governance, early stage corporate formation and federal securities law compliance. She counsels both public and private companies and advises companies and their boards on fiduciary duty matters, commercial contracts and a broad array of day-to-day corporate matters. 

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  • Represented private company engaged in insurance technology business in asset sale to a strategic buyer.
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Howard King Corporate Lawyer Womble Bond Dickinson

Howard’s practice focuses primarily on the representation of multinational companies, private equity investors, family offices, and financial institutions in domestic and international mergers and acquisitions, joint ventures, recapitalizations, corporate financings, project financings, and other sophisticated transactions. Howard has advised public and private companies in a variety of industries, including manufacturing, technology, energy, real estate, logistics and transportation, finance, and environmental.

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Keith J. Mendelson Corporate Transactions Attorney Womble Bond Dickinson Tysons, VA
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Keith Mendelson is a veteran corporate transactions lawyer bringing to his clients his distinctive combination of experiences as a longtime law firm partner and as general counsel of two technology companies. Until recently, Keith served as a member of the firm’s US management and executive committees and as head of the firm’s (US) Corporate & Securities Practice Group, which is made up of more than 130 professionals.

Keith has more than 30 years of experience working with public and private companies, founders and owners, and private equity firms, both domestically and...

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