Fifth Circuit Holds that the SBA Cannot Be Enjoined from Denying Bankrupt Entities Access to PPP Funds

In a earlier article, entitled “New Mexico Court Holds that Bankrupt Entities are Eligible for the Paycheck Protection Program,” we described how some bankruptcy courts  confronted with exigent circumstances (including several within the 1st, 5th and 10th Circuits) have granted injunctive relief to debtors in bankruptcy who have been denied  loans under Payment Protection Program […]

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New Mexico Court Holds that Bankrupt Entities are Eligible for the Paycheck Protection Program

Joining three other bankruptcy courts, Judge Thuma of the District of New Mexico recently held that the rules issued by the Small Business Administration (“SBA“) that restrict bankrupt entities from participating in the Paycheck Protection Program (“PPP“) violated the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748, P.L. 115-136 (the “CARES Act”), as well […]

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