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…
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…
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…
Supreme Court Rules on Bankruptcy Case involving automatic stay
In Ritzen Group, Inc. v. Jackson Masonry, LLC, 589 U.S. ___ (2020), the United States Supreme Court unanimously ruled that where a creditor seeks “relief” from the “automatic stay” in…
Bankruptcy News: Phone Scammers Targeting Bankruptcy Filers
Phone scamming from public information is becoming more and more prevalent with the access to information through online resources. We have seen firsthand the impact of phone scams involving the…
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Supreme Court Agrees to Hear Bankruptcy Cases on Chapter 7 Junior Mortgage Stripping
The United States Supreme Court has announced, by granting certiorari in two cases from the 11th Circuit, that it will decide an ongoing issue of whether a Debtor in a…
Bankruptcy Court Increase in Filing Fees Effective June 1, 2014
The Judicial Conference of the United States Courts approved amendments to the fees applicable in New Jersey and all Bankruptcy Court cases. The increases below go into effect June…
New Jersey Bankruptcy Means Test Figures
The U.S. Trustee Program has posted the means test figures that are to be used for filings on and after November 1. New Jersey Median income figures are there…