Biglaw Firms Get $210 Million In PPP Loans Forgiven

Who knows how many people would have been subject to layoffs if not for these loans?

(Image via Getty)

I think the program served its purpose which was to allow companies to keep people on the payroll that they would otherwise lay off. Now as we sit here with a booming stock market, people tend to have short memories about what the world was like back then.

— Ronald Schutz, chair of Robins Kaplan, commenting on the lifeboat that Paycheck Protection Program loans offered for law firms amid the worst of the pandemic. 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.


Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

Sponsored