From Lawyers Weekly: Federal judge declines to rule on PPP loan eligibility

August 2021

A nonprofit organization operating under a non-liquidating state receivership could not seek a declaratory judgment that it was eligible for a loan it received under the Paycheck Protection, Program, a U.S. District Court judge has ruled.

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"Although the court found that we did not have standing, the action was filed from our perspective to establish that participation in the COVID-19 Business Recovery Plan does not equate to being involved in a bankruptcy proceeding, which would prevent an entity from seeking or utilizing PPP funding," said Russo, a Providence attorney.

See full article here.