This browser is not actively supported anymore. For the best passle experience, we strongly recommend you upgrade your browser.

| less than a minute read

Mini Chapter 11 Bankruptcy

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]

Tags

turnaround management, business digest