In light of the COVID-19 virus a newly enacted section of the Bankruptcy Code, Subchapter V of Chapter 11 (“Small Business Reorganization”), may suddenly become a lifeline for many small businesses or a curse for creditors, depending on your perspective.

The Small Business Reorganization Act of 2019 took effect February 19, 2020.  It creates a less expensive, more streamlined, and more expedited way for “Small Businesses” to reorganize without many of the more legally challenging, and more expensive, obstacles of a traditional Chapter 11 reorganization.

Presenters:

• Randy Nussbaum, Sacks Tierney, P.A.
• Phil Rudd, Sacks Tierney, P.A.
• Wes Ray, Sacks Tierney, P.A.