Submitted by Anonymous (not verified) on Mon, 06/24/2024 - 19:41
Reuters reports that the debt limit for Subchapter V Bankruptcy for small businesses, initially set at $2.7 million, was temporarily raised to $7.5 million by the Coronavirus Aid, Relief, and Economic Security Act passed in 2020. However, this limit has now reverted to $2.7 million following the expiration of the Coronavirus Aid law on Friday, June 21, 2024..