The Small Business Administration (SBA) recently provided new guidance regarding the eligibility of certain debtors to apply for Paycheck Protection Program (PPP) loans, clarifying that, despite the general rule that debtors...more
In a prior post, we discussed the In re Fulton case — in which the Seventh Circuit Court of Appeals ruled that creditors that seize debtors’ property prior to the debtor filing bankruptcy are required to return the property...more
The Small Business Reorganization Act of 2019 (SBRA) was signed into law in August 2019 and will go into effect on February 19, 2020. The goal of the SBRA is to make small business bankruptcies faster and less expensive....more
2/11/2020
/ Bankruptcy Plans ,
Bankruptcy Reform ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
New Legislation ,
Reorganizations ,
Secured Debt ,
Small Business ,
Small Business Reorganization Act of 2019 (SBRA) ,
Unsecured Debt
Most experienced creditors know that once a debtor files bankruptcy the automatic stay imposed by Section 362 of the Bankruptcy Code generally precludes various actions to recover debt. ...more