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Congress created Subchapter V of Chapter 11 (Sub V) of the Bankruptcy Code to help small business debtors (companies and individuals) complete traditional reorganizations in Chapter 11. It is no secret that Chapter 11, over the years, evolved to be an expensive and uncertain remedy for those seeking its relief, especially smaller debtors. Moreover, the sale of substantially all of a debtor’s assets outside the context of a Chapter 11 plan went from being the exception, in the early 1980s, to the rule today.
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By Alison D. Bauer
At present, there remains no avenue for Chapter 11 debtors to receive PPP Loans during the course of the bankruptcy case. The limitation on PPP availability notwithstanding, other legislative changes have greatly enhanced the eligibility for and efficacy of bankruptcy relief for many small businesses.
By Wendy Johnson Lario, Alan Brody and Scott Humphreys
This article addresses some of the relevant employment laws and litigation vulnerabilities that companies, including their owners, officers and directors, should consider before ceasing operations or filing for bankruptcy.
By Melissa Davis and Grace E. Robson
This article focuses on the basics of fraudulent transfer claims and solvency analysis in the context of lawsuits where a plaintiff is seeking to recover payments made prior to the bankruptcy case being commenced, sometimes referred to as “claw back” litigation.
By Daniel Coyle
Chapter 15 specifically allows foreign representatives to conduct discovery in the U.S., but be wary of other entities that seek to distract and/or delay the Foreign Representative from the asset search.