Rochelle's Daily Wire

In a rapid-fire appeal, the Fifth Circuit ruled that the Small Business Act bars bankruptcy courts from enjoining the SBA.

Courts still have no consensus about debtors’ right to receive PPP ‘loans’ under the Cares Act.

Courts are divided on whether PPP litigation is ‘core’ or not.

A PPP ‘loan’ under the Cares Act isn’t a ‘grant,’ thus the government isn’t barred from discriminating against a bankrupt under Section 525(a).

Judge Thuma of Albuquerque threatens the SBA with punitive damages if the debtor is not granted a $900,000 PPP loan.

Judge David Jones found no basis in the Cares Act for precluding chapter 11 debtors from receiving PPP “loans” that the company isn’t required to repay.

Even if the two-year statute of limitations for avoidance actions has run, the trustee can still strip away the lender’s secured status in a claim objection.

The UCC and Barnhill are in accord when it comes to ownership of funds underlying an unpaid check.

The First Circuit shows no inclination to allow creditors to bust out of the PROMESA restructuring of Puerto Rico’s debt.

As long as the rate is legal under state law, considerations of equity will not allow a court to disallow default interest to an oversecured creditor under Section 506(b).