May 5, 2020
Written By: Smith Debnam Narron Drake Saintsing & Myers, LLP
JD Supra

Small Business Reorganizations under New Subchapter V of Chapter 11 of the Bankruptcy Code
The purpose of this class will be  to discuss  the changes to the new Subchapter V of the bankruptcy code and its impact on small business reorganizations.
On August 23, 2019, President Trump signed into law the Small Business Reorganization Act of 2019 (“SBRA”), Pub. L. No. 116-54 (2019). Congress increased the cap to $7,500,000 for the next year as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act from $2,725,625.00.

By: Kelly Anne Smith Forbes StaffAdvisor Contributor Group May 5, 2020
The long-term financial consequences of the coronavirus pandemic are just beginning to unfold.

America is facing a recession, with higher unemployment numbers and swifter economic destruction than during the financial crisis and Great Recession that began in 2007. This time around, more than 30 million Americans have filed for unemployment due to the coronavirus, and that number is expected to go even higher.

Business owners who took out loans under the Paycheck Protection Program thought converting them to grants would be easy. It’s not.

Treasury Secretary Steven Mnuchin  has repeatedly tightened the terms of the lending program to dissuade large companies from taking money.
Treasury Secretary Steven Mnuchin  has repeatedly tightened the terms of the lending program to dissuade large companies from taking money.Credit...Alex Brandon/Associated Press
Alan RappeportEmily Flitter
By Alan Rappeport and Emily Flitter
May 6, 2020

By: Howard Schneider | Reuters  May 5, 2020
From: stltoday.com

WASHINGTON — Overall U.S. bankruptcy filings fell in April compared to the year before, a possible sign the massive Federal Reserve and government response to the coronavirus pandemic may have helped stave off economic damage, or at least provided enough hope to families and firms to try to wait it out.

From: The Philadelphia Tribune By: Amy HaimerlMay 4, 2020https://www.phillytrib.com/news/health/coronavirus/when-does-a-small-business-file-for-bankruptcy-and-more-questions/article_4513950c-b99f-5677-a5a8-6b57526f0b17.html

If you’re facing serious financial problems, you may be considering filing for bankruptcy. In many cases, bankruptcies were an apt solution for people who have been struggling financially. While filing bankruptcy is often the last resort for debtors, it’s also possible that they may not realize what alternatives there are. Indeed, there are less drastic courses for bankrupt debtors to get rid of their debts than to file for bankruptcy.
Stop Harassment

Every part of the country has been affected by the coronavirus. Like restaurants, arenas and other locations where people assemble for business or pleasure, most courts have been closed. If you are in the midst of a bankruptcy proceeding, your case might be delayed, handled telephonically or be otherwise disrupted due to the pandemic. Furthermore, Read More

COVID-19 – HELP FOR HOMEOWNERS AND RENTERS
CORONAVIRUS ASSISTANCE INFORMATION