YCEA Bankruptcy Subchapter V Seminar (11/23/21)
This seminar addressed the basics of the somewhat new Subchapter V Bankruptcy available as a result of the Small Business Reorganization Act. Attorneys Larry Young and Haley Rohrbaugh of CGA Law Firm discussed this new subchapter of the more familiar and widely used Chapter 11 Business Reorganization provisions of the Bankruptcy Code.
The new subchapter V process gives small businesses the opportunity to reorganize and gain a fresh start, as the process is much easier and less expensive for small businesses to restructure debt and reorganize without having to close the doors. If your customers may use the new Subchapter V to compromise an amount owed to you, then you should understand how this new bankruptcy tool can be used to collect.