The following is intended to be a collection of helpful resources for attorneys involved in subchapter V cases. The Bankruptcy Administrator cannot give legal advice, and none of the resources provided here are intended as such. Check back for updates.
The Small Business Reorganization Act of 2019(link is external) (the "SBRA"), signed into law on August 23, 2019, enacts a new subchapter V of chapter 11 of the Bankruptcy Code, codified as 11 U.S.C. §§ 1181-1195, and makes conforming amendments to several sections of the Bankruptcy Code.
The Coronavirus Aid, Relief and Economic Security (CARES) Act(link is external) signed into law on March 27, 2020, amends the definition of "small business debtor" to expand access to the recently enacted SBRA for cases filed on or after the enactment of the CARES Act. Specifically, the CARES Act amends 11 U.S.C. § 1182(1) so that persons and businesses with not more than $7,500,000 in aggregate non-contingent liquidated secured and unsecured debts are generally able to proceed under subchapter V of chapter 11. These provisions of the CARES Act will sunset 1 year after the date of enactment.
National Forms Relevant to Subchapter V Cases:
- Voluntary Petition are modified to provide an option for electing to proceed under Subchapter V. See Line 13 of Official Form 101, Individual and Line 8 of Official Form 201, Non-Individual. If you are using petition preparation software, check with your vendor for updates related to Subchapter V cases.
- Notice of Chapter 11 Bankruptcy Case (For Corporations or Partnerships under Subchapter V)
- Notice of Chapter 11 Bankruptcy Case (For Individual or Joint Debtors under Subchapter V)
- Monthly Operating Report for Small Business under Chapter 11
- Plan of Reorganization for Small Business under Chapter 11
- A Guide to the Small Business Reorganization Act of 2019, prepared by Judge Paul W. Bonapfel, United States Bankruptcy Judge for the Northern District of Georgia.
- American Bankruptcy Institute's SBRA Resources Page(link is external).
- Legislative History