Chapter 11 Small Business Bankruptcy

Subchapter 5 of the Chapter 11 Bankruptcy that was recently enacted by Congress with the enactment of the Corona Virus legislation in the Cares Act of March 2020 facilitates small business bankruptcy. This new sub chapter 5 of the Chapter 11 bankruptcy has streamlined some of the traditional more cumbersome provisions of the Chapter 11 Bankruptcy requirements and consequently small businesses impacted by the recent pandemic will be able to take advantage of the Chapter 11 bankruptcy relief.