Bradley Partner Chris Glenos Quoted in Bloomberg Law on Texas Court Ruling Extending PPP Loan Benefits to Debtors in Bankruptcy

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.

The case appears to be the first in which a court has barred the SBA from systematically denying PPP loans just because the borrower is or was in bankruptcy, said Glenos.

The original article, “Bankrupt Businesses Can’t Be Blocked From Virus Aid Loans,” first appeared in Bloomberg Law on April 27, 2020.