|May 9-15, 2022|
|Percent Change From Same Week in 2021||Percent Change From Same Week in 2020|
*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
Senior Living Facilities Under Duress
Learn about the operational and financial ramifications that COVID-19 has wrought on senior living facilities during a key session at ABI's Annual Spring Meeting. Click here for more information and to register.Register here
The Impact of Easy Money on Valuations During the Pandemic
A panel at VALCON 2022 will examine the effects that this "easy money" has had on valuations throughout the pandemic, and compare these effects to companies' valuation outlooks for the remainder of calendar year 2022 and beyond.Register here
The Pandemic Era: Did Corporate Valuation Change?
Experts at VALCON 2022 will examine recent cases where the market and business uncertainty caused by the pandemic led to unpredictable or unexpected valuation outcomes. Learn more and register.Register here
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
A Former ‘Power Rangers’ Actor Is Charged with Helping Steal Millions in Covid Relief Funds
The actor who led a team of teenage superheroes on “Mighty Morphin Power Rangers” has been accused of helping steal…
A Third of Americans Report Financial Stress in Census Survey
More than a third of Americans reported difficulties to pay bills in the latest US Census Bureau household survey, showing…
Companies Cut Orders, Build Up Inventory as Supply Disruptions Continue
Ongoing supply-chain issues are forcing finance teams to rethink how they are managing customer demand, from increasing…
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.