Start Date: 9/22/2021 1:00 PM MDT
End Date: 9/22/2021 2:30 PM MDT
The full financial impact of the global pandemic and subsequent recovery is still unknown. Certain businesses will have no choice but to seek Chapter 11 bankruptcy protection. In 2020, the Small Business Reorganization Act (SBRA) became effective. SBRA’s reach was expanded through the CARES Act to small business borrowers with debts of less than $7,500,000. It’s a new fast-track, debtor-friendly bankruptcy option that alters creditors’ rights in Chapter 11 bankruptcy cases. SBRA is faster because debtors are not required to file the detailed statement required in regular Chapter 11 cases. In addition, the SBRA reorganization plan must be filed within 90 days of the bankruptcy filing, while a regular Chapter 11 plan can take a year or more.
However, the most-notable debtor-friendly characteristic is that SBRA allows a debtor to “cramdown” a non-consensual reorganization plan. Under SBRA, only the debtor can file a reorganization plan, and the court can confirm a debtor’s plan without the support of any class of claims as long as the plan is deemed to be fair and equitable. This webinar will explain what you need to know about Chapter 11 and SBRA, including related potential pitfalls and traps.
Attendance certificate provided to self-report CE credits.