Breaking (Down) the Debt Ceiling
Will The Debt Ceiling Standoff End Up In Court?
Lat: Law Firms Must Get Big, Profitable or Lost
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In a welcome feat of bipartisanship, Congress passed a bill to restore the Subchapter V debt limit to $7.5 million, and President Biden signed it into law on June 21. ...more
The House has passed a bill that will now go to the President to sign into law that raises the eligible debt ceiling for Subchapter V of Chapter 11 to $7,500,000. Small businesses with up to $7,500,000 in noncontingent,...more
Subchapter V of Chapter 11 of the Bankruptcy Code, which took effect in February 2020, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors. Under the law as originally...more
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
In February 2020, Congress established a new subchapter of Chapter 11 of the Bankruptcy Code aimed at easing the burden and costs of reorganization for small businesses. This new Subchapter V, enacted under the Small Business...more
Congress introduces legislation to extend the $7.5 million debt ceiling for Subchapter V eligibility for an additional year to March 27, 2022. Subchapter V was designed to be a cost-effective distress tool for small...more