JCR Guest Editor
A little over one year ago, just as the country was heading into a period of unprecedented turbulence caused by the COVID-19 pandemic, the Small Business Reorganization Act (SBRA) went into effect on February 19, 2020. Before SBRA, struggling businesses considering bankruptcy had two options:...
Subchapter V, ABCs  Are Key Tools for Troubled SMBs
As economic calamities in the U.S. dominate the headlines, and the media focus relentlessly on the supposed demise of the retail, hospitality, and other industries, businesses of all sizes are forced to contemplate their futures. In particular, small and medium-size businesses (SMBs), as well as...
Bankruptcy Courts Appear ‘Good Faith Debtor’ Friendly in Subchapter V Cases
Pursuant to the Small Business Reorganization Act of 2019 (SBRA), which became effective on February 19, 2020, Chapter 11 of the U.S. Bankruptcy Code was amended to include new Subchapter V. Through newly added Bankruptcy Code Sections 1181-1195, “small business debtors” should be able to...
What Turnaround Professionals Need to Know About Subchapter V
As most turnaround professionals know, federal legislation in response to the coronavirus pandemic created a limited window for more businesses to qualify for what is intended to be a faster, less costly, and simpler route through bankruptcy. This route exists through the Small Business...
The Role of the Trustee in Subchapter V Cases
The addition of Subchapter V to Chapter 11 of the U.S. Bankruptcy Code is an important innovation that introduces significant cost savings, allowing small business debtors an opportunity to reorganize. Most notably, Subchapter V transforms the role of the trustee from one of prosecutor to that of...
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The Small Business Reorganization Act of 2019 (SBRA) became effective on February 19, 2020, bringing with it a new reorganization tool for small business debtors: Subchapter V of the U.S. Bankruptcy Code. Subchapter V streamlines the Chapter 11 bankruptcy process for small business debtors,...
IMPACT 2020: The TMA Annual Experience

From IMPACT 2020: The TMA Annual Experience

With the world in an economic chokehold and in dire need of turnaround help across most industry sectors, is the traditional Chapter 11 bankruptcy back in vogue, or will alternatives to bankruptcy give Chapters 11 and 7 a run...

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On March 13, 2020, the president officially declared the COVID-19 pandemic a national emergency. In a matter of weeks, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) as its initial legislative response to combat the economic fallout from the deadly virus. Exactly...
John R. Rizzardi photographed by ©2021 Jason Sinn Photography,  www.jasonsinnphotography.com
Q: How did you gravitate into turnaround/restructuring work? Rizzardi: It was not by design. I began to practice law in 1979. In 1982, I was working at a four-lawyer firm in Auburn, a small town south of Seattle. The town’s senior lawyers regularly gathered for cocktails, and one night they learned...
2020 Bankruptcy Trends:  A Year in Review
After years of relatively few filings, the number of bankruptcy cases started to gradually tick upward in 2019. Despite unprecedented economic growth since the Great Recession, many investors and professionals had been anticipating a downturn, but it is fair to say that “global pandemic” was on...