Subchapter V of Chapter 11 of the Bankruptcy Code, which took effect four years ago, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors....more
Subchapter V of Chapter 11 of the Bankruptcy Code, which turned three earlier this year, created a more streamlined and less expensive Chapter 11 reorganization path for small business debtors. It also created a new position...more
In a welcome feat of bipartisanship, Congress passed a bill to restore the Subchapter V debt limit to $7.5 million, and President Biden signed it into law on June 21. ...more
Subchapter V of Chapter 11 of the Bankruptcy Code, which took effect in February 2020, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors. Under the law as originally...more
To be eligible for a Paycheck Protection Program ("PPP") loan, the applicant must certify on the borrower application that the applicant and any owner of 20% or more of the applicant are not “presently involved in any...more
We previously informed you that if you are a small business that needed to file bankruptcy to save your company, then you may be able to take advantage of Subchapter V of Chapter 11 of the Bankruptcy Code.
The new...more
We have previously informed you that if you are a small business that needed to file bankruptcy to save your company, then you may be able to take advantage of Subchapter V of Chapter 11 of the Bankruptcy Code.
The new...more
We previously informed you that if you are a small business that needed to file bankruptcy to save your company, you may be able to take advantage of Subchapter V of Chapter 11 of the Bankruptcy Code.
Subchapter V was part...more
We previously notified you that the CARES Act contained a key provision related to existing SBA loans. Section 1112 of the Act appropriated $17 billion to subsidize principal, interest, and fees for six months for some small...more
We previously informed you that if you are a small business that needed to file bankruptcy to save your company, you may be able to take advantage of Subchapter V of Chapter 11 of the Bankruptcy Code. Subchapter V was part of...more
With COVID-19 and the attempts to contain it causing cataclysmic business interruption, many small businesses may find themselves on the brink of insolvency.
While we hope that lenders, landlords, suppliers, and federal,...more
When an SBA loan goes into default, the SBA requires a lender to commence litigation when the lender concludes that (1) defensive action is necessary to protect the collateral or ability to collect from the obligor or (2)...more
10/17/2019
/ Affirmative Defenses ,
Best Practices ,
Borrowers ,
Corporate Counsel ,
Counterclaims ,
Defense Strategies ,
Foreclosure ,
Litigation Fees & Costs ,
Litigation Strategies ,
SBA ,
SBA Lending Programs ,
Small Business ,
Small Business Loans
For several years, the United States Small Business Administration (SBA) has experienced continuous growth with its flagship 7(a) and 504 business loan programs. For fiscal year 2018, the SBA made over $24 billion in loans...more
9/26/2019
/ Arms Length Transactions ,
Best Practices ,
Deed of Trust ,
Deed-in-Lieu of Foreclosure ,
Federal Contractors ,
Foreclosure ,
Government Shutdown ,
Liquidation ,
Non-Judicial Foreclosures ,
Property Owners ,
SBA ,
Small Business ,
Small Business Loans ,
Standard Operating Procedures