Florida News

Court: Firms in bankruptcy blocked from PPP loans

| News Service of Florida

In a Florida case that could have broader implications, a federal appeals court Tuesday upheld a U.S. Small Business Administration decision that prevents businesses from receiving Paycheck Protection Program loans if they are in bankruptcy proceedings.

A three-judge panel of the 11th U.S. Circuit Court of Appeals overturned a decision by U.S. Bankruptcy Judge Michael Williamson, who sided with Gateway Radiology Consultants, a Pinellas County medical practice that filed for Chapter 11 bankruptcy in 2019 and sought a $527,710 loan under the Paycheck Protection Program.

 

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