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Business Bankruptcy
Experienced Chapter 11 Attorneys:
The Law Office of Charles A. Higgs filed the first Subchapter V, Chapter 11 Bankruptcy Case in the Southern District of New York under the Small Business Reorganization Act.
We have represented businesses from a wide variety of industries in Chapter 11 Bankruptcy, including:
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Real Estate
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Tech
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Taxicab
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Medical
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Food
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Retail
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Transportation; and
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Construction.
We have represented businesses as both Plaintiffs and Defendants in various Chapter 11 adversary proceedings.
SUBCHAPTER V BANKRUPTCY
The Small Business Reorganization Act, which went into effect on February 19, 2020, added the option for small businesses to file bankruptcy under newly enacted Subchapter V of Chapter 11 of the Bankruptcy Code. Subchapter V provides small businesses with a number of benefits that were not previously available in Chapter 11 bankruptcy cases, including:
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Allows equity owners to retain their interest in the business without paying creditors in full,
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Allows a plan to be confirmed without the consent of any creditors,
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No US Trustee Payments
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A Subchapter V Trustee to help facilitate a plan of reorganization
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Extending the time to pay certain administrative claims.