Small Business Reorganization Act of 2019

Thursday, May 14, 2020

Small Business Reorganization Act of 2019 “A Guide to the Small Business Reorganization Act of 2019” and “Key Events in the Timeline of Subchapter V Cases”

In February, Judge Paul W. Bonapfel of the Georgia Northern Bankruptcy Court published “A Guide to the Small Business Reorganization Act of 2019.” We published that document on February 5, 2020. Since then, Judge Bonapfel has updated the document and it is provided here for your review. The material revisions are in the following sections:

Sections III(A) and (B)  – discussion of changes in the debt limit for a subchapter V debtor under the CARES Act
Part VI – additional discussion of how bankruptcy courts are implementing procedures for subchapter V cases
Section VII(B) – expanded discussion of exception in §1190(3) to general prohibition of modification of residential mortgage
Part XIII – discussion of case law on retroactive application of subchapter V and its availability in pre-enactment case

Additionally, we are publishing “Key Events in the Timeline of Subchapter V Cases” written by Judge Benjamin A. Kahn of the US Bankruptcy Court for the Middle District of North Carolina and Samantha M. Ruben, Law Clerk to Judge Kahn. We hope that you find both of these documents useful. Click here to read the summary.