On June 21, 2022, President Biden signed S. 3823, also known as the “Bankruptcy Threshold Adjustment and Technical Corrections Act” into law, amending the Small Business Reorganization Act of 2019 (the “SBRA”) to increase the eligibility debt cap for businesses filing under subchapter V of chapter 11 of the Bankruptcy Code (“Subchapter V”) from $2,725,625.00…
To date, much of the discussion regarding the Coronavirus Aid, Relief, and Economic Stability Act (the “CARES Act”) has been focused on the provisions of its Paycheck Protection Program (the “PPP”), which provides forgivable loans to small businesses based upon two and half months of their average payroll costs. The PPP has been incredibly successful in stemming…
