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 11 of 13: The absolute priority rule, which requires Chapter 11 debtors (or its equity owners) who wish to retain their equity interest to pay unsecured creditors in full, can be a frustrating hurdle […]
No Solicitation of Votes Required in Subchapter V Small Business Bankruptcy
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 10 of 13: In a traditional Chapter 11 case, the debtor must solicit the acceptance of the plan by at least one impaired class of claims as a prerequisite to confirmation. Under the new […]
Disclosure Statements are Generally Eliminated
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 9 of 13: The elimination of the disclosure statement, an often lengthy document providing adequate information to a holder of a claim or interest entitled to vote to accept or reject a Chapter 11 […]
Only the Subchapter V Small Business Debtor May File a Plan of Reorganization
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 8 of 13: Unlike in a traditional Chapter 11 case, nobody can file a competing plan of reorganization in a Subchapter V small business case. The plan, which must be filed within 90 days, […]
The Subchapter V Small Business Plan of Reorganization
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 […]
