Tip of the Week

Small-Business Restructuring Revisited in Light of the Small Business Reorganization Act of 2019

The philosophy and policy behind small-business bankruptcy provisions in the Bankruptcy Code is to make bankruptcy for smaller businesses more palatable, efficient, and economical while achieving the fairness and equitable outcomes sought throughout the bankruptcy process. While bankruptcy should not be a struggling business’s first choice to remedy financial problems, the changes enacted under the SBRA has created new opportunities for small businesses hoping to successfully reorganize and rehabilitee their financial affairs.

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