Small business debtors, those with total debt less than $2,725,000, now have a cost effective alternative to Chapter 11 bankruptcy.
{
Legal commentators have long lamented that chapter 11's high costs and complexities make it too difficult for small businesses to successfully reorganize.[i] In response to these concerns, Congress recently passed amendments to the Bankruptcy Code known as the Small Business Reorganization Act (SBRA). On August 23, 2019, SBRA was signed into law.[ii]
https://businesslawtoday.org/2020/02/small-business-reorganization-act-big-changes-small-businesses/
unknownx500
More posts by Fred Gawronski
Recent posts from Colligan Law Insights
