|November 29-December 5, 2021|
|Percent Change From Same Week in 2020||Percent Change From Same Week in 2019|
**Ch. 9, 12,15
Weekly filing data compiled from PACER and is subject to slight revisions.
For exclusive analysis and insight by ABI's Ed Flynn on the weekly filings, please click here.
For past reports, please click here.
- A New Challenge for Debtors Who Received PPP Loans Under the CARES Act
Can lenders refuse to forgive PPP loans when small businesses have filed for bankruptcy?
- Update on the Proposed Extension of the PPP Loan Program - Gotta Read That Fine Print!
On October 1, 2020, Senators Rubio and Collins reintroduced a different version of the Initial Proposed PPP III Legislation, S. 4773 (the “Amended PPP III Legislation”).
- Proposed Extension of the PPP Loan Program: A Nice First Step….
Whether Congress extends the PPP Loan Program is up in the air, but questions remain about whether the proposed legislation is the right approach.
- This DIP Loan Brought to You by Someone Who CARES - Part Two 1/2
Let’s be candid: $659 billion just doesn’t go as far as it used to. In just two short weeks, the entire $349 billion allocation for small business loans under the landmark CARES Act Payroll Protection Program (PPP), part of the single-largest government stimulus package in history, was completely exhausted by the onslaught of distressed businesses (the “PPP I Loans”).
- $659 Billion Disbursed Without Underwriting, Collateral or Guarantees: What Could Possibly Go Wrong?
The already notorious Paycheck Protection Program (PPP)is part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). $349 billion of PPP funding became available on Friday, April 3, and less than two weeks later all $349 billion was disbursed or committed to being disbursed. Congress then passed legislation adding $310 billion of PPP funding.
- This DIP Loan Brought to You by Someone Who CARES - Part II.
As PPP "Part II" loans are anticipated to be exhausted in 72 hours by small businesses struggling during the financial distress of the COVID-19 pandemic, will there be a "Part III, IV and V" on the horizon for the program? Read Stinson LLP's Tom Salerno provides his take in "This DIP Loan Should Be Brought to You by Someone Who CARES," Part Two.
- Title: 8 Predictions of the Coronavirus' Impact on the Bankruptcy World
Thomas J. Salerno of Stinson, LLP (Phoenix) and G. Neil Elsey of Avion Holdings, LLC (Scottsdale, Ariz.). proffer eight predictions as to how COVID-19 will alter the restructuring landscape in both the near term (and possibly longer).
- COVID-19: Rethinking Chapter 11 Bankruptcy Valuation Issues in the Crisis
- This DIP Loan Brought To You By Someone Who CARES!
According to a special ABI commentary by Thomas J. Salerno, Gerald Weidner, Christopher Simpson and Susan Ebner of Stinson, there could be another substantial implication of the CARES Act for the brave new bankruptcy world: a new potential source of DIP financing.
Stay in the Know with ABI
Working from Home: Employee Work Issues and Claims in the Post-COVID-19 World
A panel of CEOs, COOs and managing partners at WLC will discuss what has worked and what hasn’t worked during the pandemic, along with current trends and future issues.View More
Understanding and Enhancing the Business Value of Post-COVID-19 Distressed Businesses
An expert panel at ABI's Winter Leadership Conference will explore how to evaluate post-COVID-19 business plans and tax strategies to enhance and preserve value.View More
Real Estate Restructurings in the Aftermath of COVID-19
Join this panel of experts as they offer their perspectives on the state of the real estate and real estate-based business economy as we reach the six-month point of the post-COVID-19 recovery period.View More
What’s Different About Restaurant Restructurings During COVID-19?
A feature in the August 2021 ABI Journal examines the evolution of restaurant restructurings during the COVID-19 pandemic.View More
Americans’ Pandemic-Era ‘Excess Savings’ Are Dwindling for Many
Infusions of government cash that warded off an economic calamity have left millions of households with bigger bank balances…
US Jobless Rate Sinks to 4.2% as Many More People Find Jobs
America’s unemployment rate tumbled last month to its lowest point since the pandemic struck, even as employers…
Canadian, U.S. Truckers Warn Vaccine Mandates Will Disrupt Supply Chains
The main trucking lobbies in Canada and the United States are warning that vaccine and testing requirements for workers will…
Other Covid Resource Pages
We recommend these resources for more information on how COVID-19 is affecting the bankruptcy industry.
DLA Piper's site provides a repository of the firm's insights, events and contacts for key practice areas related to COVID-19 distress.