|October 11-17, 2021|
|Type of Case||Filings||Percent Change From Same Week in 2020||Percent Change From Same Week in 2019|
* Data on chapter 11 filings in prior years comes from the Integrated Data Base published by the Federal Judicial Center. This information is temporarily unavailable.
**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
Perspectives, Opportunities and Predictions for Consumer Bankruptcy
Don't miss an insightful panel at CPEX21 as they look at the current state of consumer bankruptcy practice and provide their thoughts on what the future may hold. Register here.View More
Charting the Course: Navigating Hospitality Insolvencies
A panel of experts at ABI's Mid-Level Professional Development Program will discuss the legal and business issues facing distressed hotel properties in the current climate, and demonstrate how hospitality companies can successfully navigate the chapter 11 process. Register here.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
Biden Says He Would Tap National Guard to Help with Supply Chain Issues
President Biden yesterday said that he would consider having the National Guard help deal with the current supply chain…
Denver Seafood Restaurant Files for Chapter 11
Manzo Lobster & Oyster Bar hasn’t had it easy since opening in Denver in September 2020. Like much of the food industry,…
American, Southwest Post Q3 Profits with Help from Taxpayers
American Airlines and Southwest Airlines posted third-quarter profits thanks to federal pandemic aid – smaller Alaska…
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.