COVID-19

Podcast: Bankruptcy During COVID-19 Pandemic

07/13/20

2020 is on pace to set a record as the busiest year for bankruptcy filings since the Great Recession.  In this episode on Kelley Drye Legal Download podcast, Bankruptcy and Restructuring Partner Bob LeHane and Special Counsel Jennifer Raviele discuss the current state of retail and restaurant bankruptcy cases, the impact of the global pandemic, and what to expect in the future.

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Interplay of Main Street Lending Program Documents (the Rights and Role of the Main Street SPV)

07/08/20

The $600 billion Main Street Loan program has been highly anticipated to provide financial support in the form of loans to small and medium-sized U.S. businesses affected by the COVID-19 pandemic. The Federal Reserve Bank of Boston that is administering the Main Street Loan program has released term sheets and various other program documents for the three types of loans, “New,” “Priority” and “Expanded,” as well as over 70 pages of Frequently Asked Questions (FAQs).

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Updates to the PPP Loan Forgiveness Application Form

06/19/20

On June 16, 2020, the U.S. Department of Treasury (Treasury) and U.S.

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[UPDATED] Paycheck Protection Program Flexibility Act: Major Changes to the PPP

06/12/20

[Update: This is an updated version of an article published on June 5, 2020]

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AB 2501 – COVID-19 Homeowner, Tenant, and Consumer Relief Law of 2020

06/09/20

A proposed piece of COVID-19 relief legislation could have major implications for California lenders and servicers, particularly in the mortgage lending industry, if passed into law. The assembly bill, entitled “COVID-19 Homeowner, Tenant, and Consumer Relief Law of 2020,” (“AB 2501”) is intended to provide relief to residential and multifamily mortgage borrowers, as well as borrowers under loans secured by a mobile home or motor vehicle, by requiring the loan servicers to provide forbearance to borrowers experiencing a financial hardship during the Covid-19 emergency.

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Chapter 11 Filings in May Are Not Up as Much as Everybody Will Say There Are

06/03/20

Prediction: you will begin to see stories about an explosion of chapter 11 filings in May 2020. Well, that is not much of a prediction because I already have seen two. Chapter 11 filings did not explode in May.

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Paycheck Protection Program: Loan Forgiveness Estimator Workbook

05/28/20

Below please find a link to the Sheppard, Mullin, Richter & Hampton LLP (Sheppard Mullin) Paycheck Protection Program (PPP) Loan Forgiveness Estimator Workbook (the Workbook), which was created by and is the property of Sheppard Mullin.

COVID-19, Workbook

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Total Bankruptcy Filings Remain Low, Chapter 11s Not So Much

05/21/20

An earlier post noted that bankruptcy filings were down substantially over 50% the first two weeks of April. As the American Bankruptcy Institute reported, bankruptcy filings declined by 46% over the entire month and on a year-over-year basis.

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