Introduction to and explanation of amendments to the Bankruptcy Code, the CARES Act, and the Paycheck Protection Program by the Consolidated Appropriations Act, 2021

Presenters: 

Henry Sommer, Esq. (Past-President of NACBA and co-editor of Colliers on Bankruptcy).

Edward Boltz (Past-President of NACBA, current Vice-President of NACBA, co-chair of NACBA’s legislative committee).

Date:  December 30, 2020

Time: 4:00-5:30 p.m. Eastern

Cost:  $0.00 for NACBA members/ $99 non-members

Description:

On Sunday, December 27, 2020 President Trump signed the Consolidated Appropriations Act, 2021, into law. This Act makes many changes to the Bankruptcy Code, the PPP program and other amendments that will benefit many of our clients.

Our panelists will introduce and explain the numerous amendments to the Bankruptcy Code including changes to Sections 364, 365, 366, 501, 502, 503, 507, 525, 541, 547, 1191, 1225, 1325, 1328, 1329.  Among many changes, these amendments affect property of the estate, discharge in chapter 13 cases when a debtor is delinquent on mortgage payments, protection of eligibility for CARES act relief, modification of chapter 13 plans, eligibility for chapter 13 business debtors regarding Paycheck Protection Program (PPP) loans and certain protections for rental property and rental property.

Our panelists will also discuss changes to the PPP loans including tax issues, additional eligible expenses, loan forgiveness, clarification of and additional limitations of eligibility, second PPP draw loans and expansion of the debt relief program for certain SBA loans.

The panel will also address the economic impact payments and unemployment assistance our clients may receive.

Why you need to attend:

The changes made to the Bankruptcy Code and PPP will affect both your clients and your firms.  To best represent and advise your clients, it is necessary to be aware of these provisions, when they go into effect and their duration. 

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