In response to the unprecedented impact from business shutdowns ordered to battle the Covid-19 virus during the spring of 2020, Congress passed a massive $2 trillion dollar stimulus package in late March. The new bill, which was debated for about a week on Capitol Hill, was quickly signed in to law by President Donald Trump […]
Tag Archives: COVID-19
Stimulus legislation increases access to small business bankruptcy procedures; up to $7.5M in debt can be restructured
In August of 2019, Congress did something that’s become a bit unusual — it passed bipartisan legislation, and saw it signed in to law by the President. The particular bill was a sweeping change to the federal bankruptcy code that was intended to open up Chapter 11 reorganizations to small businesses for the first time. […]
Posted in Bankruptcy News, Chapter 11, Small business bankruptcy
Also tagged CARES Act, Small business bankruptcy, Small Business Reorganization Act
Comments closed