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Supreme Court Ends Third-Party Releases in Bankruptcy

Harrington v. Purdue Pharma L.P., 144 S. Ct. 2017 (June 27, 2024)

USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Chapter 11, US Bankruptcy Code, Supreme Court of the United States, Pharmaceuticals, Pharmaceuticals & chemicals
Silicon Valley Bank Parent Company Files for Bankruptcy

SVB Financial Group, the corporate parent of Silicon Valley Bank, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York on March 17. According to a press release issued by SVB Financial Group, its related entities SVB Securities and SVB Capital are not included in the Chapter 11 filing. This bankruptcy filing comes a week after regulators took control of the failed Silicon Valley Bank.

USA, Company & Commercial, Insolvency & Restructuring, Frost Brown Todd LLP, Silicon Valley Bank
PPP Funds Expanded and SBA Provides Continued Guidance on PPP Loans

On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act was signed into law and provided an additional $310 billion for the Paycheck Protection Program (PPP). The Small Business Administration (SBA) resumed accepting PPP loan applications on April 27, 2020. In light of the quick exhaustion of initial PPP loan funds, eligible businesses should apply for PPP loans soon to increase the likelihood of receiving available funds.

The SBA has also provided additional guidance for entities applying for loans.

USA, Banking, Company & Commercial, Insolvency & Restructuring, Bradley Arant Boult Cummings LLP, Private equity, Hedge funds, Paycheck Protection Program, Small Business Administration (USA)