Insights

There are exceptions to the WARN Act, and I don’t know what exception they’re relying on, but it would be extremely unlikely that they would have a mass termination without consulting counsel and getting comfortable that they were in the scope of an exception,” added Jeffrey Chubak, an associate at Amini, LLC focused on bankruptcy, creditors’

While the Payroll Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (CARES) has captured the headlines these past few days, this amendment to the 2019 Small Business Reorganization Act (SBRA) that went into effect on February 19, 2020, should not be overlooked by small businesses.  For the next year, small businesses with

By the Small Business Reorganization Act of 2019, which became effective February 1, 2020, a new Subchapter V was added to Chapter 11 of the Bankruptcy Code, which relieves debtors of certain requirements, with the intention of streamlining Chapter 11 cases for small business debtors with debt below a specified threshold.  (Under the CARES Act,