Omni Logo
Monday, January 4, 2021

Welcome to the Bankruptcy
Today Newsletter.

Your daily access to recent significant Chapter 11 case filings, relevant restructuring news and samples of some of our current distressed company profiles.

Featured Recent Filings

CourtFiledDebtorCase NoAttorneyAssetsLiabilities
S.D. Fla.1/4/2021ASG Operations, LLC21-10015Bart Houston$500k - $1M$100k - $500k
C.D. Cal.1/3/2021Parmelee Investments LLC21-10002Matthew Abbasi$100k - $500k$100k - $500k
N.D. Ill.1/1/2021OPS Accounting, Inc.21-00001David Freydin$0 - $50k$100k - $500k
D. Del.12/31/2020Punch Bowl Austin Congress, LLC20-13204Eric J. Monzo$10M - $50M$10M - $50M
D. Del.12/31/2020Punch Bowl Ranchocucamonga, LLC20-13206Eric J. Monzo$10M - $50M$10M - $50M
S.D. Cal.12/31/2020Villagio Carlsbad Cottages LLC20-06247Vik Chaudhry$0 - $50k$0 - $50k
N.D. Ill.12/31/2020UNIQUE CASEWORK INSTALLATIONS, INC. (Second Filing)20-22262William E. Jamison$100k - $500k$1M - $10M
M.D. Fla.12/31/2020Balloon Boy, Inc.20-09491Richard J. Cole, III$100k - $500k$500k - $1M
M.D. Fla.12/31/2020Evergreen Mortgage Notes, LLC20-07071Andrew S. Ballentine$100k - $500k$1M - $10M
S.D. Fla.12/31/2020ImmunSYS, Inc.20-24196Jeffrey P. Bast$100k - $500k$10M - $50M
S.D. Fla.12/31/2020JB Holdings of Hobe Sound, LLC20-24182Dana Kaplan$1M - $10M$500k - $1M
W.D. Mich.12/31/2020Marco Realty, Inc.20-90214Rudolph F. Perhalla$100k - $500k$100k - $500k
D. Idaho12/31/2020The Leed Corporation20-40984Aaron Tolson$1M - $10M$1M - $10M
W.D. Wash.12/31/2020Zier Properties Reverse LLC (Second Filing)20-42868David C. Smith$1M - $10M$1M - $10M
E.D.N.Y.12/30/2020Home Comberation LLC20-44441Btzalel Hirschhorn$100k - $500k$500k - $1M
M.D. Fla.12/30/2020The Demetrios Estiatorio LLC20-03677Jason A. Burgess$0 - $50k$100k - $500k
D.S.C.12/30/2020Bullet Transport, LLC20-04647Robert H. Cooper$100k - $500k$100k - $500k
D. Utah12/30/2020Offer Space, LLC20-27480Deborah Chandler$0 - $50k$1M - $10M
N.D. Tex.12/29/2020L&M Retail Ventures, LLC20-33189Robert Lane$500k - $1M$1M - $10M
S.D. Fla.12/29/2020Richard W. Trachuk, Inc.20-24060Chad Van Horn$0 - $50k$50 - $100k

View All Filings
Featured Article

Eleventh Circuit Finds SBA Can Deny Payment Protection Program Loans To Debtors In Bankruptcy

The Eleventh Circuit recently affirmed the U.S. Small Business Association’s (“SBA”) rule that makes bankruptcy debtors ineligible for a Payment Protection Program (“PPP”) loan under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). In its comprehensive opinion, the Eleventh Circuit determined that the SBA’s rule is not an unreasonable interpretation of the CARES Act and is not arbitrary and capricious. The Eleventh Circuit joins the Fifth Circuit, which similarly held in June 2020 that a bankruptcy court exceeded its authority when it required the SBA to make a PPP loan available to a debtor in bankruptcy.

The Eleventh Circuit reversed a bankruptcy court’s finding that the SBA exceeded its authority and acted arbitrarily and capriciously when it adopted the rule. The bankruptcy court determined that the rule was unenforceable to the extent it disqualified the debtor from participating in the PPP. The bankruptcy court also issued an injunction requiring the SBA to guarantee the loan if the applicant met all other requirements (other than not being in bankruptcy) and restricting the SBA from conditioning loan forgiveness on the applicant not being in bankruptcy. The Eleventh Circuit’s analysis focused on the SBA’s authority to adopt the rule and the fact that PPP loans are subject to existing eligibility requirements for SBA loans.

Read the full article

The National Law Review by Ann Marie Uetz and Andrew T. McClain. Published December 30, 2020.

Latest News

What To Do When Commercial Leases End Up In Bankruptcy

Bankruptcy Code Temporarily Tilts In Favor of Supplier and Landlord Preference Defendants

Eleventh Circuit Finds SBA Can Deny Payment Protection Program Loans To Debtors In Bankruptcy

JCPenney, Pier 1 Imports, Chuck E. Cheese’s, Friendly’s, Other Chains Filed For Bankruptcy In 2020

Amendments To the Bankruptcy Code

AMC, Fighting Bankruptcy, To Offer 50 Million More Shares

After Burning Through $2 Billion, KATERRA Gets A $200 Million SoftBank Lifeline To Escape Bankruptcy

Landlord of UWS Buildings Files For Bankruptcy

Quick Links

Today Newsletter
Subcribe Now
Our daily newsletter provides access to recent significant chapter case filings, relevant restructuring news and samples of our current distressed company profiles.
brian-nl.jpg paul-nl.jpg alison-nl.jpg
Brian Osborne Paul Deutch Alison Miller
818.906.8300 212.302.3580 917.364.0508
© 2019 Omni Agent Solutions. All Rights Reserved