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FactorLaw's Summary and Analysis of the Small Business Reorganization Act

February 19th, 2020
1. THE SUBCHAPTER 5 ELECTION. Chapter 11 now contains a “Subchapter 5” which applies only to “small business debtors” that make a so-called “Subchapter 5” election. See 11 U.S.C. §§ 1181-1195. Absent such an election, the small business… Read More
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Categories: For Creditors, For Creditors|Illinois Bankruptcy, For Debtors, For Debtors, Illinois Bankruptcy, Interesting Articles, Interesting Links, News, Uncategorized
Tags: chapter 11, SBRA, small business, Small Business Reorganization Act

The Small Business Reorganization Act

May 8th, 2019
Last month, the Senate Judiciary Committee reintroduced the Small Business Reorganization Act (SB 1091). SB 1091 is intended to streamline the process for small businesses (those with debts less than $2,566,050) that wish to use Chapter 11 to reorgan… Read More
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Categories: For Creditors, For Debtors, For Debtors, Illinois Bankruptcy
Tags: cost reduction, small business
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Senate Bill Would Bar Confessions of Judgments, Including for Merchant Cash Advances (MCA)

January 27th, 2019
In what may be a response to the Bloomberg article that discussed Merchant Cash Advances or MCAs, Sens. Rubio and Brown introduced federal legislation on December 6, 2018, to prevent confessions of judgments and related instruments. The text of the b… Read More
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Categories: News
Tags: FTC, small business