Will Chapter 12’s New Debt Limit Fuel a Cramdown Express?
By James T. Markus, Partner & Zachary Sanderson, Associate, Markus Williams Young & Hunsicker LLC
On August 23, 2019, President Trump signed into law the Family Farmer Relief Act of 2019, which increased the debt limit under Chapter 12 of the U.S. Bankruptcy Code to $10 million from about $4.15 million. This means that Chapter 12 is now a viable option for larger family farming operations,...
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James T. Markus is a co-founder and member of Markus Williams Young & Hunsicker LLC. He is certified by the American Board of Certification as a Business Bankruptcy Specialist and is a director of the American College of Bankruptcy Fellows. Markus specializes in the representation of secured creditors, lessors, asset purchasers, official committees, debtors, and trustees in commercial transactions, distressed debt transactions, workouts, restructurings, and Chapter 11 bankruptcy proceedings.
Zach Sanderson is an associate with Markus Williams Young & Hunsicker LLC. He concentrates his practice on business bankruptcies, creditors’ rights, and commercial litigation. He holds a law degree from the University of Iowa Law School and a bachelor’s degree from Iowa State University. Before joining Markus Williams, he served as law clerk to the Hon. Thad Collins, Chief Judge of the U.S. Bankruptcy Court for the Northern District of Iowa.