Quick, Cheap, Consensual
When the Small Business Reorganization Act of 2019 (SBRA) was enacted in February 2020, it provided a timely lifeline for small businesses struggling to survive the economic realities of the pandemic, including the resulting supply chain disruptions and inflation, writes Devan de los Reyes in her March Illinois Bar Journal article, “Quick, Cheap, Consensual.”
de los Reyes explains that the SBRA created new subchapter V within Chapter 11 of the Bankruptcy Code to allow small businesses the opportunity to reorganize more quickly, efficiently, and inexpensively than in a traditional Chapter 11. While navigating a subchapter V case can be tricky, even for veteran bankruptcy practitioners, de los Reyes’ article shows the way forward.
Read "Quick, Cheap, Consensual" in the March IBJ.