News & Analysis as of

Chapter 12 New Legislation

Rumberger | Kirk

Narrow Bankruptcy Reforms Make Big Changes for Small Business, Vets, Farmers

Rumberger | Kirk on

Three important pieces of bankruptcy legislation were signed into law this summer. The legislation did not make substantial structural changes to the bankruptcy system, but the laws do meaningfully impact three important...more

Jones Day

Legislative Update

Jones Day on

On August 23, 2019, President Trump signed into law four pieces of bankruptcy legislation designed to help financially distressed small businesses, disabled veterans, National Guard and reservists, and family farmers. Those...more

Womble Bond Dickinson

Family Farmer Relief Act Expands Chapter 12 Bankruptcy Protections for Small and Mid-Sized Farms

Womble Bond Dickinson on

Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song...more

BCLP

Bankruptcy Code Amended: Congress Makes Chapter 12 More Accessible to Family Farmers and Creates New Chapter 11 Subchapter for...

BCLP on

On August 23, 2019, President Donald J. Trump signed into law two bills amending the Bankruptcy Code: (i) the Family Farmer Relief Act of 2019 (“FFRA”); and (ii) the Small Business Reorganization Act of 2019 (“SBRA,” and with...more

Husch Blackwell LLP

New Legislation Likely To Spur Increase In Bankruptcy Filings

Husch Blackwell LLP on

On August 23, President Trump signed into law two new pieces of legislation—the Family Farmer Relief Act of 2019 and the Small Business Reorganization Act of 2019—that will likely lead to an increase in bankruptcy filings...more

Ward and Smith, P.A.

New Law More than Doubles Chapter 12 "Family Farmer" Debt Limit

Ward and Smith, P.A. on

On Friday, August 23, 2019, the President signed into law the Family Farmer Relief Act of 2019. The Act increases the debt limit used to determine whether a family farmer is eligible for relief under Chapter 12 of the...more

K&L Gates LLP

Dust Off Your Chapter 12 Knowledge: Increase to Debt Limits May Revive Family Farmer Bankruptcies

K&L Gates LLP on

On August 1, 2019 the U.S. Senate passed the Family Farmer Relief Act of 2019, which more than doubled the debt limit for “family farmers” qualifying for relief under Chapter 12 of the U.S. Bankruptcy Code to $10,000,000. ...more

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