Subchapter V’s Impact on Small Business Reorganization

Turnaround Management Association

"A little over one year ago, just as the country was heading into a period of unprecedented turbulence caused by the COVID-19 pandemic, the Small Business Reorganization Act (SBRA) went into effect on February 19, 2020. Before SBRA, struggling businesses considering bankruptcy had two options: Chapter 7 or Chapter 11. SBRA provides an additional option to businesses seeking to reorganize by adding Subchapter V to the Bankruptcy Code, which affords small business debtors the option of pursuing Chapter 11 restructuring under laws and rules of (a) “traditional” Chapter 11, or (b) Subchapter V."

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Related Contacts
Cullen Drescher Speckhart Partner, Washington, DC
Related Practices & Industries

Business Restructuring & Reorganization