Bloomberg Law
Dec. 21, 2020, 10:57 PM

Spending Bill’s Bankruptcy Provisions Target Some Covid-19 Woes

Daniel Gill
Daniel Gill

Bankruptcy judges would be able to approve Paycheck Protection Plan loans on an expedited basis under the government spending bill currently under consideration in Congress.

The Consolidated Appropriations Act (H.R. 133) revealed Monday would add a section allowing Chapter 11 debtors or trustees to seek final approval of a PPP loan, with a hearing only seven days from filing the request. It’s one of a handful of provisions aimed at helping bankrupt debtors during the Covid-19 pandemic.

But the change won’t be effective unless and until the administrator of the Small Business Administration advises the director of the Executive Office ...

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