New ABI Website Provides Practitioners and Small Businesses with Resources to Help Navigate the New Small Business Reorganization Act
Alexandria, Va. — As the Small Business Reorganization Act of 2019 (SBRA) takes effect on February 19, ABI launched the "SBRA Resources" website to help practitioners and struggling small businesses learn about the new law and stay updated on SBRA developments. The site features information on ABI events on the new law, FAQs about SBRA, an infographic, the legislative history of SBRA, informative videos of ABI presentations on SBRA, updated news and commentary, articles from the ABI Journal, ABI committee newsletters and more.
The SBRA adds new subchapter V to chapter 11 of the Bankruptcy Code, providing a better path for small businesses to successfully restructure, reduce liquidations, save jobs and increase recoveries to creditors, while recognizing the value provided by entrepreneurs. It adopts the current definition of a “small business debtor” as a person in commercial or business activity with aggregate or noncontingent liquidated secured and unsecured debts as of its bankruptcy filing date of not more than $2,725,625. It is estimated that about half the chapter 11 cases filed today could qualify for subchapter V treatment. SBRA was signed into law on August 23, 2019, by President Trump and takes effect on February 19.
“The SBRA Resources site is an invaluable resource for practitioners and struggling small businesses looking to stay current on developments related to restructuring under the new law,” said ABI Executive Director Amy Quackenboss.
Visit and bookmark the SBRA Resources website by clicking here.
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 11,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events