At the end of 2020, Congress enacted the Consolidated Appropriations Act, 2021, partially in response to the COVID-19 pandemic and resulting economic crisis. While funding the federal government and preventing a government...more
4/1/2021
/ Amended Regulation ,
Bankruptcy Code ,
Bankruptcy Court ,
Commercial Property Owners ,
Commercial Tenants ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Debtors ,
Landlords ,
Relief Measures ,
Rent ,
Rental Property ,
Small Business ,
State and Local Government ,
Tenants ,
Time Extensions
IN BRIEF -
• The current economic decline caused by the COVID-19 pandemic will result in a surge of debtors in need of bankruptcy protection.
• Subchapter V to the rescue! Despite some burdens on debtors, the advantages...more
Effective February 19, 2020, Congress enacted new bankruptcy legislation granting debtors the option to elect a new subchapter V of chapter 11 of the bankruptcy code (Subchapter V). This was made possible by the bipartisan...more