The Small Business Reorganization Act

By Nisha Patel

~5 minute read Reviewing the Small Business Reorganization Act and Subchapter V Bankruptcy As of April 19, 2021, the Small Business Reorganization Act and Subchapter V, the new bankruptcy option for small businesses, has been in effect for 14 months, and like a human toddler, it’s walking, talking, and changing.  So even though I’ve posted before about…

Is Small Business Bankruptcy Right For You?

By Nisha Patel

Worst of all, your cash reserves and any Paycheck Protection Program money you may have received are long gone. Your creditors are hounding your cell phone and your mailbox is full of bills. And with all of the talk about the “new normal,” perhaps you no longer see any light at the end of the tunnel for your business and are ready to throw in the towel. If so, perhaps a Chapter 7 bankruptcy is right for you.