As of June 21, 2024, the debt limit for small business bankruptcies, also known as Subchapter V bankruptcies, reverted to $3,024,725 from the temporarily increased limit of $7,500,000 established under the Coronavirus Aid, Relief, and Economic Security Act…
United States
Insolvency/Bankruptcy/Re-Structuring
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As of June 21, 2024, the debt limit for small business
bankruptcies, also known as Subchapter V bankruptcies, reverted to
$3,024,725 from the temporarily increased limit of $7,500,000
established under the Coronavirus Aid, Relief, and Economic
Security Act (CARES Act). This reversion limits small and midsize
businesses’ access to a streamlined and cost-effective
alternative to traditional Chapter 11 filings, potentially leading
to broader financial implications. Continue reading
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