Bankruptcy
Mar. 31, 2020
COVID-19 Stimulus aims to make Chapter 11 easier for many more small businesses
The Coronavirus Aid, Relief and Economic Security Act significantly raises the debt ceiling for Chapter 11 debtors to elect to proceed under the Small Business Reorganization Act of 2019 from $2,725,625 to $7,500,000.
M. Douglas Flahaut
Partner
Arent Fox LLP
Justin A. Kesselman
Associate
Arent Fox LLP
On March 27, President Donald Trump signed into law the Coronavirus Aid, Relief and Economic Security Act, a Senate bill passed just days earlier in response to the public health crisis that has emerged from the spread of COVID-19. The CARES Act significantly raises the debt ceiling for Chapter 11 debtors to elect to proceed under the Small Business Reorganization Act of 2019 from $2,725,625 to $7,500,000.
The SBRA was signed into la...
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