A popular program that expanded eligibility for small business bankruptcies in the US expired on June 21, 2024. This expiration limits the ability of small and mid-sized businesses to access a more streamlined and less-costly alternative to a traditional Chapter 11 filing. The program, known as Subchapter V, was part of the Small Business Reorganization Act. Congress's failure to renew this part of the Act closes the door to businesses with between $2.7 million and $7.5 million in debt.
After years of rising popularity, it just got harder to qualify for the recently created Subchapter V bankruptcy option. https://t.co/Py8OtTO3jE
I don't understand what "bankrupt" means anymore https://t.co/2whZVyZkAq
Subchapter V, a popular program that expanded eligibility for small business bankruptcies in the US expired on June 21, limiting small and mid-sized businesses' ability to access a less-costly alternative to a traditional Chapter 11 filing https://t.co/nm4YiMrDcT https://t.co/q0jOjmto6y
Subchapter V became a popular tool for small businesses, but Congress's failure to renew a part of the Small Business Reorganization Act closes the door to businesses with between $2.7 million and $7.5 million in debt. Subscribe to The Daily Docket: https://t.co/s1z0JFiNQe https://t.co/yfyOLuWy8K
A popular program that expanded eligibility for small business bankruptcies in the U.S. expired, limiting small and mid-sized businesses' ability to access a more streamlined and less-costly alternative to a traditional Chapter 11 filing @DietrichKnauth https://t.co/nm4YiMr5nl https://t.co/jwpeOwGZEj
Small business bankruptcy rules will get tighter after the expiration on June 21 of a popular program that expanded eligibility https://t.co/WP4aZlAAGf https://t.co/wl4laXGBDI
Small business bankruptcy rules get tighter after US law expiration https://t.co/u8v8RRVGvH https://t.co/KvlpMLwnxG
A popular program that expanded eligibility for small business bankruptcies in the US expired, limiting small and mid-sized businesses' ability to access a more streamlined and less-costly alternative to a traditional Chapter 11 filing https://t.co/nm4YiMrDcT @DietrichKnauth https://t.co/ju6SfL5pSM