New Bankruptcy Subchapter V Presents Opportunities for Struggling Businesses and Pitfalls for Creditors
By David M. S. Shaiken On August 23, 2019, the Small Business Reorganization Act (“SBRA”) was signed into law. It became effective on February 19, 2019. The SBRA created a new Subchapter V to Chapter 11 of the Federal Bankruptcy Code, which made it simpler and more cost-effective for small businesses to reorganize in Chapter…