Jerrold Bregman Just in Time: New Bankruptcy Relief for Small Businesses
A unique opportunity for Chapter 11 restructuring of small businesses with up to $7.5 million of third-party debt is set to expire early 2021.
September 23, 2020 at 11:45 AM
8 minute read
The clock is ticking for small businesses (with debt of less than $7.5 million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. New sub-chapter V ("five") – part of the Coronavirus Aid, Relief and Economic Security Act of 2020 (the "CARES Act")—is set to expire in about six months.
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