On Aug. 23, 2019, Congress enacted the Small Business Reorganization Act of 2019 (SBRA), which became effective on Feb. 19, 2020, creating Subchapter V of Chapter 11 of the Bankruptcy Code (11 U.S.C. §§1181-1195 Subchapter V).
The Benefits of Subchapter V — But Are You Guaranteed to Stay?
Although Subchapter V may create a clearer path to confirmation, debtors must be aware of, and (absent an extension by the court) comply with, the more stringent timing requirements, such as the requirement of filing a plan within 90 days after filing bankruptcy.
By
Sean C. Kulka
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