On February 19, 2020, Congress enacted the Small Business Reorganization Act of 2019 (“SBRA”), also known as Subchapter 5, in order to help small businesses through the bankruptcy restructuring process by providing them with a faster and less expensive option for reorganizing under Chapter 11…read more. VPS’s experienced bankruptcy team assists law firms with preparing and managing bankruptcy filings including Subchapter 5 proceedings.
Under the SBRA, the plan process is much more streamlined and designed to keep cases moving quickly, requiring a debtor to file its plan of reorganization within 90 days after entering bankruptcy. This can strain law firm resources. VPS helps firms and debtors stay on pace with this more rapid bankruptcy process.
Subchapter 5 Timeline: