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Overview
The Small Business Reorganization Act of 2019 created a new Subchapter V under Chapter 11 for small businesses. Additionally, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") includes temporary modifications to Subchapter V cases. In this One-Hour Briefing, the Honorable Nancy Hershey Lord, EDNY Bankruptcy Judge; the Honorable Elizabeth S. Stong, EDNY Bankruptcy Judge; William K. Harrington, United States Trustee; and Rachel S. Blumenfeld, the Law Office of Rachel S. Blumenfeld PLLC will review advanced topics under the new law including:
• Significant recent decisions affecting Subchapter V cases and practice
• The Subchapter V plan:
• Voting
• Debtor's disposable income - length of plan
• Confirmation - consensual vs. cram down
• Principal residence mortgage modification
• Default and remedies after confirmation - dismissal; conversion; removal of debtor
Program Level: Update
Intended Audience: Outside attorneys, in-house counsel, compliance officers, financial advisors, bankers, bankruptcy and accounting professionals and other allied professionals
Prerequisites: None
Advanced Preparation: None