[Update April 14: The SBA has notified Applicants that Despite prior promises of $10,000 per applicant, they are only advancing $1,000 per employee as of the January 31, 2020 Payroll.] The first $10,000 of funds advanced under Economic Injury Disaster…
Chapter 11 Bankruptcy Reorganizations – DIP Challenges
As of Friday (04/03/20), the Coronavirus Aid, Relief and Economic Security (CARES) Act that is providing funding for businesses, did not address debtor-in-possession (“DIP”) lending to businesses operating in Chapter 11 of the United States Bankruptcy Code. We are hoping…
Bankruptcy Law Changes – Coronavirus Aid, Relief and Economic Security (CARES) Act.
March 27, 2020. The Coronavirus Aid Relief and Economic Security (“CARES”) Act became law Friday March 27, 2020. The CARES Act makes temporary changes to the United States Bankruptcy Code. Here are some highlights: Amends Small Business Reorganization Act of…