News & Analysis as of

Small Business Relief Measures Commercial Bankruptcy

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

Miller Canfield

Sunset of Certain Bankruptcy Code Changes

Miller Canfield on

As we previously reported, the Bankruptcy Code saw many changes in 2020 and 2021. Some of the changes that were enacted under the Consolidated Appropriations Act, 2021 ("CAA") will soon end....more

Womble Bond Dickinson

Congress Temporarily Raises Subchapter V Debt Limit. Again.

Womble Bond Dickinson on

A key temporary bankruptcy related response to the pandemic has been re-implemented and extended with the passage of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”) which extends the increase in...more

Womble Bond Dickinson

Sun Sets on Increased Subchapter V Debt Limit for Now

Womble Bond Dickinson on

A key bankruptcy-related response to the pandemic has ended as the increased debt limits under subchapter V of chapter 11, passed by Congress in the CARES Act, have expired. In an effort to provide bankruptcy relief and...more

Ward and Smith, P.A.

Congratulations Bankruptcy Graduates! You Are Now Eligible for PPP Loans.

Ward and Smith, P.A. on

To be eligible for a Paycheck Protection Program ("PPP") loan, the applicant must certify on the borrower application that the applicant and any owner of 20% or more of the applicant are not “presently involved in any...more

Goodwin

A New Bankruptcy Lifeline for Startup, Early Stage and Emerging Growth Companies?

Goodwin on

Top 10 Questions About Subchapter V Reorganization - Reorganization under Chapter 11 of the Bankruptcy Code offers powers and benefits that are simply not available in out-of-court restructurings. Chapter 11...more

Dunlap Bennett & Ludwig PLLC

Bankruptcy Update: The COVID-19 Bankruptcy Relief Act of 2021

On March 27, 2021, President Biden signed the COVID-19 Bankruptcy Relief Extension Act (the “Extension Act”) into law as Pub.L. 117-5. In relevant part, it extends by a year increased debt limits for small businesses and...more

Miller Canfield

The Impact of the Bankruptcy Relief Act and Other Recent Bankruptcy Code Changes

Miller Canfield on

Bankruptcy law has seen many changes in 2020 and 2021. Some of these were enacted in response to COVID, but many other changes were included in the Bankruptcy Code before the pandemic. This article highlights some of these...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

Jones Day

Legislative Update: New Australian Insolvency Law Reforms Enacted for Small Businesses

Jones Day on

In response to the emergence of the COVID-19 pandemic in Australia in 2020, the federal government injected an unprecedented level of stimulus into the Australian economy and introduced temporary law reforms aimed at...more

Bradley Arant Boult Cummings LLP

A Business Bankruptcy Overview: How Subchapter V, the CARES Act and the Consolidated Appropriations Act Have Expanded Relief for...

In February 2020, just prior to the COVID-19 outbreak, the Small Business Reorganization Act of 2019 (Subchapter V) took effect. Subchapter V amends Chapter 11 of the Bankruptcy Code to allow certain individuals and...more

Holland & Knight LLP

Congress Enacts Temporary Bankruptcy Relief Related to COVID-19

Holland & Knight LLP on

Congress passed new, temporary bankruptcy relief measures late last year that impact certain commercial landlords and tenants. Among other things, the new legislation, which was signed into law on Dec. 27, 2020: 1) extends...more

Farrell Fritz, P.C.

Governor Cuomo Signs the COVID-19 Emergency Protect Our Small Businesses Act of 2021 Establishing Eviction and Foreclosure...

Farrell Fritz, P.C. on

Governor Andrew M. Cuomo this week signed the COVID-19 Emergency Protect Our Small Business Act of 2021 (S471A/A3207) (the “Act”), which will impact commercial landlords, tenants, mortgagors, and mortgagees.  ...more

Patterson Belknap Webb & Tyler LLP

Court Dismisses Bankruptcy Case to Enable Debtor to Seek a Paycheck Protection Loan

It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? Will a court dismiss the case so you can seek a loan?...more

Cozen O'Connor

Congress Enacts Modification to Bankruptcy Procedures Governing Assumption and Rejection of Leases

Cozen O'Connor on

The Consolidated Appropriations Act of 2021 (the Appropriations Act) is a $2.3 trillion spending bill that combines stimulus relief for the COVID-19 pandemic and an omnibus spending bill for the federal fiscal year. ...more

Bowditch & Dewey

Rent Abatement, PPP Loans (Maybe), and Other Bankruptcy Relief in the Appropriations Act

Bowditch & Dewey on

On December 27, 2020, the Consolidated Appropriations Act, 2021 became law. In addition to funding the government and providing coronavirus relief, the Act contains several intriguing amendments to the Bankruptcy Code. The...more

Miller Canfield

Congress Permits SBA to Make PPP Loans to Debtors in Bankruptcy, SBA Says "No"

Miller Canfield on

In June and December of 2020, Miller Canfield reported that the Fifth and Eleventh Circuits had held that the Small Business Administration ("SBA") may exclude debtors in bankruptcy from consideration for Paycheck Protection...more

Pullman & Comley, LLC

New Bankruptcy Relief Provisions Brought to You by the 2021 Federal Appropriations Act

Pullman & Comley, LLC on

The new Consolidated Appropriations Act, 2021 (the “Act”), which was signed into law on December 27, 2020 (H.R. 133), includes within its 5,593 pages a number of new bankruptcy relief provisions for businesses as part of what...more

Epiq

Predictions for Bankruptcies in 2021

Epiq on

The U.S. economy has experienced a tumultuous year. COVID-19 has caused businesses and individuals alike to turn to bankruptcy in order to keep their creditors at bay. Others have delayed filing because they have been able to...more

Jones Day

New Insolvency Processes for Small Australian Businesses

Jones Day on

During the better part of 2020, the federal government has injected an unprecedented level of stimulus into the Australian economy in an attempt to mitigate the economic impact of COVID-19. As a result, despite a significant...more

White & Case LLP

Letter from America: navigating Australia’s new debtor-in-possession insolvency reforms

White & Case LLP on

The Federal Government has announced its largest insolvency reform package in over 30 years, which includes a simplified formal debt restructuring process for eligible small businesses... ...more

Nelson Mullins Riley & Scarborough LLP

The Small Business Reorganization Act: An Unintended Lifeline For Small Businesses Considering Restructuring Due to COVID-19

For years, small business debtors have struggled with the intricacies of Chapter 11, the debt limitations of Chapter 13 and Chapter 7 bankruptcy liquidations. Stringent requirements and procedural hurdles often made...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – August 2020 #1

Hogan Lovells on

In Washington - The divide between Democrats and Republicans continues as talks today have still resulted in no deal on a new coronavirus stimulus package. House Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck...more

Miller Canfield

Bankruptcy Rulings: Debtors Do Not Have to Be Currently Engaged in Business and Commercial Activities to Qualify for SBRA Relief

Miller Canfield on

The recently enacted Small Business Reorganization Act ("SBRA") is available to help "small business debtors" with debts of no more than $2,725,625 (temporarily increased to $7,500,000 for one year by the CARES Act). Although...more

38 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide