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Chapter 11 Bankruptcy 101 Subchapter v – Small Business Debtor Reorganization
This is an introduction to the most often used provisions of the United States Bankruptcy Code (“Code”). I touch on simple concepts that a business lawyer should be generally familiar with in order to prepare his/her client for a Chapter 11 bankruptcy reorganization. Additionally, I discuss reporting requirements for small business debtors, general administration of a case, augmenting the bankruptcy estate through avoidance actions and confirming a plan of reorganization. This paper focuses on Chapter 11 from the viewpoint of the small business debtor who has elected to be treated under Subchapter V, Small Business Debtor Reorganization of 2019 (“SBRA”), the most recently enacted amendment to the Code.
Bankruptcy 101: Landmines to Avoid During the Pandemic and Beyond
Bankruptcy filings will inevitably be on the rise given the uncertain economic environment. If your client’s company is a creditor involved in a bankruptcy, there is no substitute for being prepared for and seeking outside bankruptcy counsel to advise on proper strategy. You may want to advise your client to proactively hiring counsel to strategically structure vendor contracts; analyze sale opportunities, particularly of distressed assets; restructure your own client’s corporate debt; if involved in a large Chapter 11, hire counsel to advise upon the benefits of having representation upon the creditors’ committee; and, advise your client’s company, if applicable, on the bankruptcy impacts of oil and gas and intellectual property issues.