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,
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 3 of 13: A debtor in bankruptcy is not eligible to apply for a Paycheck Protection Program (PPP) loan. And a PPP applicant that becomes a debtor in bankruptcy after submitting the PPP application,
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 2 of 13: A small business debtor under the new Subchapter V of Chapter 11 can be an individual or an eligible business entity that engages in commercial or business activities unless the
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 1 of 13: On August 23, 2019, the Small Business Reorganization Act of 2019 (SBRA) was signed into law and became effective on February 29, 2020. The SBRA created Subchapter V of Chapter
Longleaf Law Partners continues to monitor national, state and local health authorities’ updates on the status of COVID-19, as we are certain our clients and colleagues are doing as well. Based on all information available at this time, it is our intention to keep operating and maintain close contact with the needs of our clients and their individual projects so that necessary attention is provided to allow transactions to move forward. We intend to continue
