Bradley attorney Chris Glenos was quoted in Bloomberg Law on a Texas bankruptcy case that ruled the Small Business Administration (SBA) can’t automatically deny a loan under the Paycheck Protection Program (PPP) because the borrower is in Chapter 11 bankruptcy.
Bradley attorney Jason Bushby was quoted in Bloomberg Law on loan transfer risks for borrowers that have been hit hard by the coronavirus pandemic. With millions of mortgage borrowers skipping payments, concerns about liquidity at small servicing companies have raised alarms at the CFPB. Experts fear that an already bumpy process could get even worse for borrowers due to the volume of transfers that could result from the economic distress caused by the pandemic.
Bradley attorney James Bailey was quoted in Bloomberg Law on temporary changes to the Small Business Reorganization Act (SBRA) that could save some companies that have been hit with uncertainties created by COVID-19. The SBRA was passed to speed up the process of reorganizing an insolvent company with less than $2.7 million in debt. However, the coronavirus relief package enacted in March raised the debt limit to $7.5 million to help small businesses survive the pandemic.