In the wake of the global COVID-19 pandemic, Congress hurriedly passed a host of economic relief bills to provide "American workers, families, and small businesses fast and direct economic assistance and to preserve jobs."
Unforeseen Consequences for Bankruptcy Practice In CARES Act
This article highlights several of these outcomes and discrepancies of the CARES Act stimulus package, including how accepting crisis funding could lead to a company becoming more distressed, how bankruptcy courts are inconsistently ruling on the ability for Chapter 11 debtors to receive PPP loans and how changes to the Bankruptcy Code altered the rights of equity holders and debtholders.
By
Sourav Chaudhuri and Gregory Plotko
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