Last night we blogged about the $2 trillion COVID-19 stimulus bill that proposes to increase the SBRA small business debt limit in Subchapter V Chapter 11 bankruptcy cases from approximately $2.7 million to $7.5 million, at least for the next year. The Senate approved the legislation late last night, 96-0, and it’s now headed to
We spent the last part of February blogging about the first series of substantive opinions under the Small Business Reorganization Act of 2019 (SBRA), which became effective on February 19, 2020. That news seems rather quaint a month later, as the world, and now the U.S., is in the throes of the COVID-19 pandemic. Yesterday, those worlds collided for me when my client in the Northern District of Georgia, a Subchapter V debtor, let me know that he had to shut down both of his business locations in response to Gov. Kemp’s COVID-19 order. And this morning, we all woke-up to news that Congress was close to passing a $2 trillion coronavirus stimulus bill, potentially the largest emergency aid package in U.S. history.