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Treasury Issues Guidance on the Coronavirus State and Local Fiscal Recovery Funds under the American Rescue Plan Act

Client Alert | 1 min read | 05.17.21

On May 17, 2021, the U.S. Department of the Treasury officially published an Interim Final Rule to provide long-awaited guidance on the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund (“the Fiscal Recovery Funds”) established under the American Rescue Plan Act (“ARPA”).  To facilitate the disbursement of these funds, this Interim Final Rule establishes a framework for determining the types of programs and services that are eligible under the ARPA along with a list of eligible uses that State, local, and Tribal governments may consider.  While State, local, and Tribal governments have the flexibility to determine how best to use the Fiscal Recovery Funds to meet the needs of their communities and populations, this funding, along with its recipients and subrecipients, will be subject to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards in 2 C.F.R. Part 200.

To learn more about this Interim Final Rule and better understand the opportunities and risks for companies, please read our blog post here.

Insights

Client Alert | 8 min read | 06.06.25

Litigation Funding Reforms: Clarity for UK Funders and Litigants Post-PACCAR

On 2 June 2025 the Civil Justice Council (a UK public body that advises on civil justice and civil procedure) (“CJC”) issued its Review of Litigation Funding Final Report (the “Report”). The CJC has provided comprehensive recommendations on the regulation and reform of litigation funding in England and Wales. The highlight recommendation of the Report is for the UK Government to remove third party litigation funding from the regulations and requirements of the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), reversing the judgment of the Supreme Court in PACCAR.[1] Meanwhile, the UK Court of Appeal has recently endorsed a position that the Competition Appeal Tribunal (“CAT”) may order that third party funders of collective proceedings be paid first from litigation proceeds before claimants according to waterfall provisions in their funding agreements....