Subchapter V of the Bankruptcy Code was created under the Small Business Reorganization Act of 2019 (SBRA), which became effective on February 19, 2020. Most corporate restructuring attorneys will tell you that Subchapter V has been tremendously successful. Upon enactment, small business debtors with less than...
Clients often confuse the separation between (i) a company (such as an LLC), and (ii) the owner of the company. I tell my clients to think of the company as a living and breathing creature that exists under the Florida statutes. It has certain rights,...
Bankruptcy Code section 1189(b) permits bankruptcy courts to extend the deadline to file a Subchapter V plan “if the need for the extension is attributable to circumstances for which the debtor should not justly be held accountable.” Courts agree this is a higher standard than...
Judge Jacobvitz of New Mexico follows Judge Harner of Maryland in developing a standard for deciding whether a Subchapter V debtor may extend the time for filing a plan. In the form of an opinion, Bankruptcy Judge Robert H. Jacobvitz of Albuquerque, N.M., wrote a treatise...