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CARES Act, SBRA and Anticipated Wave of Subchapter V Filings

August 2020 - American Bankruptcy Institute Journal
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Much of the recent news surrounding the Coronavirus Aid, Relief and Economic Security Act of 2020 (CARES Act) has been focused on the impacts of direct-to-taxpayer checks, bailouts for major corporations and industries, and other benefits aimed at stimulating the slumping U.S. economy, including the additional funding provided to the Small Business Administration's § 7(a) loan program and the Paycheck Protection Program (PPP). However, there is one aspect of the CARES Act that should not be overlooked by small businesses struggling in these uncertain times: The amendments to the Small Business Reorganization Act of 2019 (SBRA) that make its streamlined chapter 11 procedures more broadly available for a limited period of time.

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