ABI

JANUARY 13, 2021

In response to the economic fallout of the global COVID-19 pandemic, Congress passed the CARES Act, a part of which made government-guaranteed loans available to qualified small businesses through the Paycheck Protection Program (“PPP”). [i] shall be issued against the Administrator.” [ix] 706(2)(A) and (C). injunction.

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff In In re Raza, a bankruptcy court in Virginia overruled a trustee’s objection to certain of the debtor’s claimed exemptions and held that a small business owner who received an Economic Injury Disaster Loan (“EIDL Loan”) with the U.S.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . The Small Business Reorganization Act of 2019 (“SBRA”) created a new subchapter V of chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). [1] 2] Under Subchapter V, an individual may be a debtor if they are a “person” with less than $7.5

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ABI

JANUARY 13, 2021

i] Section 1102 of the CARES Act allows parties to apply for loans under the Paycheck Protection Program (“PPP”), which may be forgiven under certain circumstances. [ii] iv] The hospitals had already filed for bankruptcy when the onset of the Covid-19 pandemic detrimentally affected their business operations. [v]

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Troutman Sanders

FEBRUARY 26, 2024

On February 21, the Biden-Harris administration announced that it will automatically discharge $1.2 billion in loans for nearly 153,000 borrowers who are eligible for the shortened time to forgiveness benefit under President Biden’s Saving on a Valuable Education (SAVE) Plan. For more information, click here.

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