July 17, 2020
In an article published on Law360, Shane Ramsey and John Baxter discuss the U.S. Court of Appeals for the Fifth Circuit's ruling that appeared to be a blow to debtors seeking loans under the Paycheck Protection Program.
"Despite the dire consequences that could have arisen as a result of this order for debtors across the country, the cases that have addressed this decision since its passage have not all fallen in line with the U.S. Court of Appeals for the Fifth Circuit's approach," they write. "As such, while debtors in the Fifth Circuit are unlikely to enjoin the U.S. Small Business Administration from denying them PPP loans, debtors in other circuits could still be eligible."
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