Bankruptcy
Jun. 24, 2020
Section 547 amendments’ impact on bankruptcy trustees
For practitioners, these changes are worthy of discussion, lest you or your client find yourself on the receiving end of a demand letter or adversary proceeding that seeks recovery of the infamous “preferential transfer.”
Nancy Simons
Regional Director
Stretto
The Small Business Reorganization Act of 2019, which went into effect in February, brought significant changes to the United States Bankruptcy Code. As its name suggests, the focus of the SBRA was the addition of a new Chapter 11 sub-section designed to provide certain small businesses with a more stream-lined and affordable route to reorganization. Lost in the glare of this shiny new subsection were less heralded amendments to the Bankruptcy Code’s preferential trans...
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