Cover Your Assets: Asset Protection for New Jersey Business Owners
Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business, each…
Bankruptcy Courts rule SBA must consider Bankrupt Applicants for loans
Judge Cynthia C. Jackson of the U.S. Bankruptcy Court for the Middle District of Florida became the latest judge to rule that the Small Business Administration cannot reject an applicant…
Impact of COVID-19 on Chapter 7 Bankruptcy Discharges
The Coronavirus (COVID-19) pandemic has affected even the New Jersey Bankruptcy Court normal process of entering a discharge in a Chapter 7 Bankruptcy case. We applaud the New Jersey Bankruptcy…
recent case liberally interprets sub-chapter V eligibility
The Small Business Reform Act defines small business debtor as a person engaged in commercial or business activities (including any affiliate of such person that is also a debtor under this title and excluding a person whose primary activity is the…
sub-chapter v small business debtors and confirmation of a plan of reorganization
The goals of Sub-chapter V are to minimize the time and expense of small business reorganization. status conference Within 60 days of the filing, the bankruptcy court is expected to…
Sub-chapter v: makes it easier for small businesses to reorganize
ELIGIBILITY FOR SUB-CHAPTER V ELECTION Sub-chapter V election by a small business requires that the debtor have non-contingent, liquidated debts (secured and unsecured) totally not more than $2,725,625..00 (presently for…
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SUB-CHAPTER V: SMALL BUSINESS DEBTOR REORGANIZATION
Sub-Chapter V of Chapter 11 of the United States Bankruptcy Code was signed into law in August 2019 and took effect in February 2020. The intent of the change to…
BANKRUPTCY CODE AND CARES Act
On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law by President Trump. In addition to providing emergency assistance and health care…
coronavirus stimulus package: will it be enough to save small businesses
The Coronavirus outbreak has caused the unprecedented shutdown of businesses by the government. While this may be necessary to control the spread of the virus, the shutdown is having a…
