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David Mawhinney Writes “How the Consolidated Appropriations Act helps companies in bankruptcy” for the Worcester Business Journal

The Worcester Business Journal has published “How the Consolidated Appropriations Act helps companies in bankruptcy” written by David Mawhinney.  At the end of last year, the Consolidated Appropriations Act 2021 was passed, which helps small businesses going through bankruptcy.  David Mawhinney discusses how this act can help businesses with rent abatement and PPP loans.  Below is an excerpt from the article.

Filing bankruptcy does not stop rent obligations from accruing. Prior to the most recent amendments, businesses could delay paying rent for, at most, 60 days. Recognizing the havoc coronavirus has wreaked on small businesses, the new law now temporarily allows small business debtors in subchapter V to defray rent payments for up to 120 days, as long as the bankruptcy court approves.

Continue reading “How the Consolidated Appropriations Act helps companies in bankruptcy” on the Worcester Business Journal website

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