I blogged late yesterday evening about what appeared, at first glance, to have been a slow debut for the Small Business Reorganization Act of 2019 (SBRA). Although the Turney case still gets the trophy for the first ever Subchapter V small business Chapter 11 case, there were still a few other Sub V filings on Wednesday. At 11 p.m. EST, the Turney case was the only Sub V case being reported. As of 8:30 a.m. EST this morning, PACER caught-up, with some rough, updated filing statistics as follows:
- There were 68 Chapter 11 cases filed nationwide on February 19.
- Of those 68 cases, 33 of them were included in a big Delaware joint filing for a healthcare group; at least 6 of them were SARE debtors; and a few of the others were individual debtors who were not small business debtors, small business debtors who didn’t elect Sub V treatment, or corporate debtors who did not identify as small business debtors;
- Of the remaining Chapter 11 filings, it appears that at least 16 of them were Sub V cases, with 7 of them being for corporate debtors and 9 of them being for individual debtors;
- In terms of venue for the Sub V cases, Alaska had 1, Arizona had 1, California had 2, Florida had 2, North Carolina had 1, New York had 2, Tennessee had 4, Texas had 1, and Virginia had 2 (with one of those being an individual who also filed 3 other related cases, which 3 other debtors did not identify as being small business debtors, Sub V or otherwise).
Anyway, lesson learned on PACER. In full candor, I now realize that the Case Locator feature warns that it can take 24 hours for updates. Thus, I’ll keep an eye on PACER throughout the day.