3 Points to Know on Subchapter V of Chapter 11 Bankruptcy

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Subchapter V of Chapter 11 Bankruptcy is a relatively new addition to the United States Bankruptcy Code, introduced as part of the Small Business Reorganization Act of 2019. It is designed to make the Chapter 11 bankruptcy process more accessible and less expensive for small businesses. Here are three important points to know about or […]

Going Bankrupt: Why Businesses Experience Bankruptcy

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Bankruptcy is an unfortunate reality that many businesses face. In its simplest terms, business bankruptcy is a process initiated by a company when it is unable to pay off its debts. The process is designed to help businesses restructure their financial obligations or liquidate their assets to repay creditors. Although bankruptcy is a complex process, […]

Small Business Reorganization ACT (Subchapter 5 under Chapter 11)

On August 23, 2019, the Small Business Reorganization Act was passed (SBRA) which was effective on February 19, 2020. The goal of this law was to streamline the reorganization process and make Chapter 11 more affordable for qualified businesses. Qualified Businesses ½ total debt from business $2.7M debt limit which increased for 1 year only […]