News & Analysis as of

Small Business Chapter 13 Bankruptcy Code

Miller Canfield

Debt Limit to Qualify for Subchapter V and Chapter 13 Set to Revert This Summer

Miller Canfield on

In 2022, Congress passed the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”), raising the debt limits for bankruptcy cases under the Small Business Reorganization Act (“SBRA,” a.k.a. “Subchapter V”)...more

Nelson Mullins Riley & Scarborough LLP

The Unfair Contradiction of the Conflict of State and Federal Laws on the Bankruptcy Proceedings of Dispensary Employees

There is seemingly, in the opinion of a great number of bankruptcy courts, a conflict between the United States Bankruptcy Code requirements that a debtor reorganize or liquidate “in good faith,”  the federal Controlled...more

White and Williams LLP

Federal Rules Of Bankruptcy Procedure Amended In Response To Small Business Reorganization Act Of 2019

White and Williams LLP on

On February 19, 2020, the Small Business Reorganization Act of 2019 (SBRA) took effect after being signed into law in mid-2019. Among other things, the SBRA created a new subchapter (Subchapter V) to chapter 11 of title 11 of...more

Miller Canfield

Passage of Bankruptcy Threshold Adjustment and Technical Corrections Act

Miller Canfield on

Congress has made some small but important changes to the Bankruptcy Code through its enactment of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the "Act") on June 21, 2022. The most important of these...more

Haynsworth Sinkler Boyd, P.A.

COVID-19 Bankruptcy Relief Extension Act: Bankruptcy Provisions Of The 2020 Cares Act Extended

On March 27, 2020, the federal government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, providing relief to a wide array of individuals and industries. Included in the CARES Act were certain...more

Kerr Russell

Increased Bankruptcy Debt Ceiling Extended An Additional Year

Kerr Russell on

As we recently reported, the temporary increase of the “debt ceiling” for small business debtors under Subchapter V of the Bankruptcy Code from $2,725,625 to $7,500,000 was set to “sunset” or expire on March 31, 2021. That...more

Genova Burns LLC

President Biden Signs the “COVID-19 Bankruptcy Relief Extension Act”

Genova Burns LLC on

On March 27, 2021, President Biden signed the “COVID-19 Bankruptcy Relief Extension Act”. The Legislation will extend personal and small business bankruptcy relief provisions that were part of last year’s CARES Act through...more

Levenfeld Pearlstein, LLC

Legislation Introduced To Extend CARES And CAA Bankruptcy Provisions

On February 25, 2021, Senators Durbin and Grassley introduced bipartisan legislation to extend the expiration dates of certain bankruptcy provisions of the CARES Act and the Consolidated Appropriations Act to March 27, 2022. ...more

Fox Rothschild LLP

The 90 day Franchise Bankruptcy Solution

Fox Rothschild LLP on

The CARES Act has amended the Bankruptcy Code to provide an expedited and easier version of a business bankruptcy proceeding. We now have “Subchapter 5” for small business and individual debtors. This process fulfills a sweet...more

Miller Canfield

Recent and Upcoming Changes to Bankruptcy Law That Affect Your Rights as a Creditor

Miller Canfield on

The Small Business Reorganization Act of 2019 ("SBRA"), the Honoring American Veterans in Extreme Need ("HAVEN") Act, and the Family Farmer Relief Act were enacted into law on August 23, 2019. This alert summarizes these...more

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