May 15th, 2020 - Posted in BA Blog by Scott Brown
We’ve all read about the recent bankruptcy filings of large national retailers such as JCrew and Neiman Marcus, with predictions of many more to come, but there’s been far less press about restaurants and restaurant chains that have filed bankruptcy or are likely to file bankruptcy. (more…)
May 14th, 2020 - Posted in BA Blog by Jeffrey Bast
Many small to mid-sized business owners are simply unaware of the tools currently available for preserving their business. A recent article in The Washington Post suggests that making it easier to file bankruptcy could avert economic catastrophe. (more…)
May 5th, 2020 - Posted in BA Blog by Scott Brown
While we do not yet know the full financial impact of Coronavirus on America’s four major professional sports leagues (NFL, NBA, NHL and MLB), the pandemic has claimed its first US sports league casualty – namely, WWE chairman, Vince McMahon’s, reincarnated XFL. (more…)
May 4th, 2020 - Posted in BA Blog by Jeffrey Bast
The current crisis has left many retailers, both large and small, trying to figure out how to best configure themselves in what has now become the new retail environment. Surviving means cutting expenses to the bare minimum, negotiation concessions on debt re-payment obligations from lenders, and pursuing all available government stimulus programs. (more…)
April 27th, 2020 - Posted in BA Blog by Jaime Leggett
Many companies have questioned how their insolvency would impact their PPP applications, which require them to affirm that they have been adversely impacted by COVID-19. The SBA has issued a new rule stating that a PPP borrower or its owner cannot be in bankruptcy prior to disbursement of the loan. Per the Rule: (more…)
April 3rd, 2020 - Posted in BA Blog by Jamie Leggett
In November, we discussed the Small Business Reorganization Act (SBRA) passed by Congress to speed up the process and reduce the cost of bankruptcy for small businesses (under $2.7 million in debt). (more…)
April 1st, 2020 - Posted in BA Blog, Client Alert by Jeffrey Bast
The Coronavirus Aid, Relief, and Economic Security (CARES) Act has allocated $350 billion to help small businesses and nonprofits keep workers employed during the global pandemic and economic downturn. (more…)
March 27th, 2020 - Posted in BA Blog by Dana Quick
While struggling student loan borrowers continue to wait for more permanent solutions to their student loan debt as outlined in my previous blog post Student Loans in Bankruptcy, the U.S. Department of Education (“DOE”) has provided some temporary relief available to federal student loan borrowers. (more…)
March 18th, 2020 - Posted in BA Blog, Client Alert by Jamie Leggett
The novel coronavirus (COVID-19) has begun its disruption of the United States and the world. Scientific knowledge and public responses are changing day by day. Still, the fallout is already beginning to appear: a recent NPR/PBS NewsHour/Marist poll says that 18% of Americans report being let go or having their hours reduced. (more…)
