In many chapter 11 cases, a committee of unsecured creditors is formed early in the case to represent the overall interests of unsecured creditors. See 11 U.S.C. § 1102. Members of the committee hold a “fiduciary” obligation to the entire general unsecured creditors’ class. Notably, each member of an unsecured creditors committee is
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PPP Loan Availability in Bankruptcy Hinges on the SBA
By Michael R. Herz on
In a recent Fox Alert, Harriet Wallace examined the new potential for debtors and bankruptcy trustees to apply for Paycheck Protection Program (PPP) loans in connection with operating a debtor’s business in bankruptcy under the Consolidated Appropriations Act 2021 that was signed by President Trump on December 27, 2020.
While the availability of PPP…