Wednesday, December 01, 2021
14,363 Law Firms Got PPP Loans, Many Forgiven, and Perhaps Unneeded?
Some 14,363 law firms received Small Business Administration Paycheck Protection Program (PPP) loans, including the former law firm of soon-to-be Florida Speaker of the House PAUL RENNER, (R-FL-24), which firm, MILAM HOWARD NICANDRI GILLAM & RENNER, P.A., got $301,000.
Hundreds of millions of dollars was distributed to lawyers, including well-heeled lawyers for plaintiffs and defendants, former lawyers for DONALD JOHN TRUMP and chauvinistic defenders of the ruling classes, environmental and civil rights violations, union-busters and developers.
Government loans flowed to the ROSE LAW FIRM, HARRELL & HARRELL, GRAY ROBINSON, MORGAN & MORGAN, KRAMER RAYSON, MARKS GRAY, ROGERS TOWERS, BOIES, SCHILLER & FLEXNER, SNIFFEN & SPELLMAN, SHUTTS & BOWEN, GUNSTER, YOKLEY & STEWART, BECKER & POLIAKOFF, FARAH AND FARAH, LEVIN PAPANTONIO THOMAS MITCHELL RAFFERTY & PROCTORUPCHURCH, BAILEY AND UPCHURCH, and St. JOHNS LAW GROUP.
Traditionally, law firms were ineligible for Small Business Administration assistance.
TRUMP and Congress enacted PPP and changed the rules, preventing numerous layoffs amidst a global pandemic.
Above The Law reports tht many of the loans have been forgiven, even those to firms that did not need the money: "Am Law 200 firms received roughly $330 million in PPP loans, and 27 of them have had their loans fully or partially forgiven. The following firms have had their loans, totaling roughly $210 million, forgiven: Thompson & Knight; Armstrong Teasdale; Robins Kaplan; Bond, Schoeneck & King; Hodgson Russ; Lewis Roca Rothgerber Christie; Allen Matkins Leck Gamble Mallory & Natsis; Day Pitney; Robinson & Cole; Morris, Manning, & Martin; Phelps Dunbar; Miles & Stockbridge; Miller, Canfield, Paddock and Stone; McElroy Deutsch Mulvaney & Carpenter; Shumaker, Loop & Kendrick; Schiff Hardin; Cole, Scott & Kissane; Ice Miller; Rutan & Tucker; Smith, Gambrell & Russell; Benesch, Friedlander, Coplan & Aronoff; Buchalter; Hinckley, Allen & Snyder; Curtis, Mallet-Prevost, Colt & Mosle; Arnall Golden Gregory; Williams Mullen; and Shutts & Bowen. Fifteen other firms have not yet disclosed whether their loans, totaling $125 million, have been forgiven."
As in George Orwell's Animal Farm, "some animals are more equal than others."
The next time you speak to lawyers for one of these firms, you might wish to remind them of their duty to do pro bono legal work; Rose Kennedy's favorite Bible versus is, "To whom much is given, much is expected."
It's our money.
Some of the firms receiving PPP loans allegedly just socked the money away in a bank account.
From Gerben law firm blog, https://www.gerbenlaw.com/blog/law-firms-that-received-ppp-loans/ :