Articles from Shenwick & Associates

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Misuse or Misapply SBA EIDL Loan Proceeds and Chapter 7 Bankruptcy Filings

Submitted by Anonymous (not verified) on Fri, 08/04/2023 - 23:45

 Misuse or Misapply SBA EIDL Loan Proceeds and Chapter 7 Bankruptcy FilingsAs many readers of our emails and blogs know, we have developed a practice representing individuals and businesses that have defaulted on SBA loans. We either want to do a workout with the SBA or file for bankruptcy.The first question we are asked is whether SBA loans are dischargeable in a Chapter 7 bankruptcy filing. The answer to that question is yes.

Epiq: July Commercial Chapter 11 Filings Increase 71 Percent Over Last Year

Submitted by Anonymous (not verified) on Fri, 08/04/2023 - 20:52

 Epiq is reporting that July Commercial Chapter 11 Filings Increase 71 Percent Over Last Year
The article can be found at https://finance.yahoo.com/news/epiq-july-commercial-chapter-11-172700880...
Jim Shenwick, Esq  917 363 3391  [email protected] 
Please click the link to schedule a telephone call with me.

New Biden plan cuts student loan payments for millions to $0?

Submitted by Anonymous (not verified) on Wed, 08/02/2023 - 17:44

 KCRA has New Biden plan cuts student loan payments for millions to $0. Will it be the next legal battle?https://www.kcra.com/article/biden-new-student-loan-payment-plan-explain...
Jim Shenwick, Esq  917 363 3391  [email protected] 
Please click the link to schedule a telephone call with me.

Teamsters says U.S. trucking firm Yellow shuts operations, to file for Bankruptcy

Submitted by Anonymous (not verified) on Tue, 08/01/2023 - 22:11

Teamsters says U.S. trucking firm Yellow shuts operations, to file for Bankruptcy.  The article can be found at https://www.cnbc.com/2023/07/31/teamsters-says-us-trucking-firm-yellow-s...

'I feel abandoned' — businesses warn of bankruptcy as deadline to pay back COVID loans looms

Submitted by Anonymous (not verified) on Fri, 07/28/2023 - 21:06

 'I feel abandoned' — businesses warn of bankruptcy as deadline to pay back COVID loans looms
Nearly 250,000 small businesses who received CEBA loans are in danger of shutting down, says CFIB
The article can be found at:
https://financialpost.com/news/economy/businesses-fear-bankruptcy-ceba-deadline-looms
Jim Shenwick, Esq  917 363 3391  [email protected] 

IRS will stop showing up at homes unannounced in effort to protect agents, combat scammers

Submitted by Anonymous (not verified) on Tue, 07/25/2023 - 20:16

 The New York Post is reporting that IRS will stop showing up at homes unannounced in
effort to protect agents, combat scammers.The article can be found at https://nypost.com/2023/07/24/irs-ending-policy-of-unannounced-home-visits-by-agents?utm_source=gmail&utm_campaign=android_nyp

A $500 Billion Corporate-Debt Storm Builds Over Global Economy Yahoo Finance

Submitted by Anonymous (not verified) on Thu, 07/20/2023 - 18:08

Yahoo Finance published an article discussing the potential default of $500 billion in corporate debt. The article indicates that large corporate bankruptcies are accumulating at the second-fastest rate since 2008, surpassed only by the initial phase of the pandemic. The article can be found at https://uk.finance.yahoo.com/news/500-billion-corporate-debt-storm-230005895.html?guccounter=1

5 Common Causes of Small Business Bankruptcy from RBC Royal Bank

Submitted by Anonymous (not verified) on Fri, 07/14/2023 - 18:04

RBC Royal Bank has an article about the "5 Common Causes of Small Business Bankruptcy " The article can be found at https://discover.rbcroyalbank.com/5-common-causes-of-small-business-bankruptcy/

Business Bankruptcies Pick Up Again

Submitted by Anonymous (not verified) on Wed, 07/12/2023 - 20:53

Business Bankruptcies Pick Up AgainCFO Drive is reporting that Business Bankruptcies have increased. The story can be found at https://www.cfodive.com/news/business-bankruptcies-pick-up-again/686049/

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