Legal Alerts/Details

New Small Business Reorganization Act May Provide Easier Bankruptcy Relief for Many Small Businesses Impacted by COVID-19

March 24, 2020
  1. “First Case of 2019 Novel Coronavirus in the United States,” The New England Journal of Medicine, March 5, 2020, (first case confirmed on January 20, 2020).
  2. See Legislative History “H.R. 3311, the “Small Business Reorganization Act of 2019.” SBRA requires at least fifty percent of a small business debtor’s debt to have arisen from commercial or business activities.  Current Section 101(51D) defines a “small business debtor” as one that has aggregate, noncontingent, liquidated, secured and unsecured debts of $2,725,625 or less.
  3. “Bankruptcy Pros Want Protections Broadened to Blunt Coronavirus Impact,” The Wall Street Journal, March 23, 2020,

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