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Small Business

A Business that Never Generated Income Is Eligible for Subchapter V, Judge Norman Says

The definition of ‘small business’ uses the word ‘activities,’ not ‘operations,’ making nonoperating small business eligible for Subchapter V.

5th Circuit
Texas
Texas Southern District
Wednesday, November 27, 2024
Article Tags
Labor/Employment
Small Business
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Chicago District Judge Decides that Sub V Debtors Can Have Nondischargeable Debts

Reversing the bankruptcy court, the Chicago district judge follows the Fourth and Fifth Circuits and rejects a contrary holding by the Ninth Circuit BAP.

7th Circuit
Illinois
Illinois Northern District

Concerns About Being Left Holding the Bag: Addressing Payment of Subchapter V Trustee Fees

Jan 2025

Bankruptcy Code
1182
1183
1191
Topic Tags
Practice and Procedure
Professional Compensation/Fees
Small Business

Judge Thorne Describes the Quantum of Evidence Needed to Show a Plan Is Fair and Equitable

Although a ‘true-up’ cannot be imposed, a debtor could employ a ‘true-up’ to confirm an otherwise nonconfirmable plan.

7th Circuit
Illinois
Illinois Northern District

Sub V Trustee in Chapter 11 Can’t Be Enlisted to Pursue Avoidance Actions

District judge decides that an individual debtor has standing to appeal conversion from Subchapter V of chapter 11 to chapter 7.

2nd Circuit
New York
New York Southern District

A Primer on Discharge Exceptions for Subchapter V Professionals

Subchapter V of the Bankruptcy Code provides an affordable and efficient means of financial rehabilitation to the owners of small businesses. In service of these ends, “[t]he debtor has the opportunity to use new, powerful tools to reorganize and save its business; but it must do so quickly.” [1]

Tuesday, November 5, 2024
Article Tags
Consumer Bankruptcy
Business Reorganization
Small Business
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Fully Secured, Nonrecourse Creditors Can Be Involuntary Petitioners, BAP Says

An involuntary petitioner whose claim was paid after filing is still counted as an involuntary petitioner, the Ninth Circuit BAP says.

9th Circuit
Friday, November 1, 2024
Article Tags
Legislation
Business Reorganization
Small Business
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