Tag Archives: small businesses
How a Small Business Can Build a Feasible Subchapter V Plan
Subchapter V bankruptcy is a streamlined form of Chapter 11, designed to give troubled small businesses a faster, more affordable path to reorganize their debts and emerge solvent. Unlike in a traditional Chapter 11, there is no requirement that creditors approve a Subchapter V plan. However, the bankruptcy court must confirm the plan, which it […]
Why Subchapter V Eligibility Has Become a Hot Bankruptcy Issue
Subchapter V, enacted in 2019, was designed to streamline the Chapter 11 process for small businesses with overwhelming debt loads. Offering a faster, less expensive reorganization, this remedy has surged in usage. But as filings have increased, so have disputes over which businesses can tap into Subchapter V’s benefits. Creditors are pushing back with eligibility […]
Using Chapter 7 to Wipe Out Personal Liability for Business Debt
Many small businesses struggle to stay afloat and eventually reach the point where debt becomes unmanageable. If you are an owner or part owner of a business in that situation, you may be wondering whether you are liable for your company’s debts and whether filing a Chapter 7 bankruptcy can protect you and your personal […]
