Bankruptcy - PPP Loan Eligibility
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Case Details
Judge Fagone held that the Small Business Administration's prohibition of bankruptcy debtors participating in the Payroll Protection Program loan program did not violate Section 525 of the Bankruptcy Code or the Administrative Procedures Act.
Additional Notes
Case reference: In re Calais Regional Hospital, (Bankr. D. Me. 6/3/20) Case No. 19-10486 and Penobscot Valley Hospital, (Bankr. D Me. 6/3/20), Case No. 19-10034. Judge Fagone ruled in favor of SBA regarding PPP loan eligibility for debtors.