In Chapter 11 Bankruptcy, there is what is known as a Subchapter V. There are significant benefits for a small business to file Subchapter V instead of a typical Chapter 11. This includes two (2) complicated but important concepts: “Absolute Priority”...
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 business of owning single asset real estate) that has aggregate non-contingent liquidated...
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 small business election under Chapter 11 the debt limit is...
Gillman, Bruton, Capone Law Group
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