Companies in bankruptcy do not have access to the Paycheck Protection Program, at least according to the letter of the law. However, the issue has become less clear as illustrated by the decisions in In re Hidalgo and In re Cosi Inc. Howard M. Berkower and Franklin Barbosa Jr. of McCarter & English take a closer look at those decisions and how their inconsistencies muddy the waters.
Jesse S. Vogtle, Jr., Randolph H. Lanier, Eric T. Ray and Paul H. Greenwood have joined Waller’s Birmingham office as partners. They previously practiced at Balch & Bingham.
Stanford A. Stanford, Sr., a long-time bank regulatory and compliance expert, has joined WSFS Bank as senior vice president and chief compliance officer.
BB&T Chairman and CEO Kelly S. King and SunTrust chairman and CEO William H. Rogers, Jr., spoke at a joint public meeting of the Federal Reserve Board and the Federal Deposit Insurance Corporation on the proposed merger of equals between BB&T and SunTrust Banks.
Wells Fargo continued its board refreshment process, as John S. Chen, Lloyd H. Dean, Enrique Hernandez, Jr. and Federico F. Pena have decided to retire from the board at its upcoming annual meeting of shareholders.
Seacoast Commerce Bank hired former Wells Fargo executive Ernesto M. Arredondo, Jr. as executive vice president and chief banking officer.