Church Successfully Challenges SBA’s Legislation of PPP by Regulation; More to Follow?

The Small Business Administration (SBA) violated federal law by imposing conditions for loans under the Paycheck Protection Program (PPP) that were not enacted in the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748, P.L. 115-136 (CARES Act), Judge David Thuma has held.

Filed under:
USA, Insolvency & Restructuring, Litigation, Jackson Lewis PC, Private equity, Coronavirus, Paycheck Protection Program, US House of Representatives, Small Business Administration (USA), Title 11 of the US Code, CARES Act 2020 (USA)
Authors:
Melissa Ostrower , Robert R. Perry
Location:
USA
Firm:
Jackson Lewis PC