The Small Business Reorganization Act of 2019 (SBRA) became effective on the eve of the economic free fall stemming from the COVID-19 pandemic. Longleaf Law Partner’s bankruptcy law expert, Cindy G. Oliver, explains the new law in our 13-part series, Bankruptcy Buzz. Part 7 of 13: Unsecured creditors generally do not receive a payment on their claims in a Chapter 11 bankruptcy case until a plan of reorganization is confirmed, and a secured creditor may only receive […]
Archives for June 2020
Required Status Conference
The Small Business Reorganization Act of 2019 (SBRA) became effective on the eve of the economic free fall stemming from the COVID-19 pandemic. Longleaf Law Partner’s bankruptcy law expert, Cindy G. Oliver, explains the new law in our 13-part series, Bankruptcy Buzz. Part 6 of 13: A small business debtor who elects to reorganize under the new Subchapter V of Chapter 11, is required to attend a status conference, as is the trustee appointed in the case, […]
Creditors’ Committees Generally Eliminated in Subchapter V
The Small Business Reorganization Act of 2019 (SBRA) became effective on the eve of the economic free fall stemming from the COVID-19 pandemic. Longleaf Law Partner’s bankruptcy law expert, Cindy G. Oliver, explains the new law in our 13-part series, Bankruptcy Buzz. Part 5 of 13: There are no creditors’ committees in a Subchapter V small business Chapter 11 case unless the bankruptcy court deems them warranted. In a traditional Chapter 11 bankruptcy case, an unsecured […]
The New Subchapter V Trustee
The Small Business Reorganization Act of 2019 (SBRA) became effective on the eve of the economic free fall stemming from the COVID-19 pandemic. Longleaf Law Partner’s bankruptcy law expert, Cindy G. Oliver, explains the new law in our 13-part series, Bankruptcy Buzz. Part 4 of 13: Contrary to a traditional Chapter 11, a trustee is appointed in every Subchapter V small business bankruptcy case. However, the Subchapter V trustee does not operate the debtor’s small business, […]
