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Business Solutions for ‘Main Street’

Subchapter V: Reorganize Faster & Easier

ArentFox Schiff is advising clients on programs available through the Small Business Reorganization Act – commonly known as Subchapter V of the Chapter 11 Bankruptcy Code – to provide relief to small-sized, ‘Main Street’ businesses impacted by a challenging global economy.

Since the new law went into effect in February 2020, more than 3,000 Subchapter V cases have been filed. Led by Partner George Angelich, our team is helping companies access a much-needed lifeline that is now available to small businesses that must navigate strong global economic headwinds. With Subchapter V elections expected to increase in the months ahead, lenders, other creditors, and business executives should know how the SBRA alters the normal Chapter 11 landscape.

That’s where our team comes in. AFS is working with colleagues across every key industry sector to advise clients on the best option available to them to find business solutions that meet their needs. In addition, we are providing written materials and targeted webinars to explain Subchapter V to businesses across the country. Our AFS Task Force is available to represent clients in obtaining relief authorized by the Act in an expeditious manner.

Subchapter V Resources

* Link leads to an external website not maintained by ArentFox Schiff.

Subchapter V Experience

Debtor Counsel:

In re G-Star Raw Retail Inc., et al., Case No. 20-16040 (Bankr. C.D. Ca.)
In re Summit Financial Inc., Case No. 8:21-BK-12276-SC (Bankr. C.D. Ca.)
In re CFX US Co., Inc., et al., Case No. 22-10022 (DSJ) (Bankr. S.D.N.Y.)

Committee Representation:

In re New York Classic Motors, LLC, Case No. 21-10670 (MG) (Bankr. S.D.N.Y.)

Creditor Representation:

In re Parking Management, Inc., Case No. 20-15026 (TJC) (Bankr. D. Md.)

Subchapter V Publications & Speaking Engagements

George P. Angelich, Co-author, "Small Business Reorganization Act in Practice: Issues and Strategies for Creditors in Small Business Bankruptcies", Credit Research Foundation’s publication, Perspective by CRF, Q1 2022
Justin A. Kesselman, Co-author, "Small Business Reorganization Act in Practice: Issues and Strategies for Creditors in Small Business Bankruptcies", Credit Research Foundation’s publication, Perspective by CRF, Q4 2021
Justin A. Kesselman, Author, "COVID-19 Stimulus Legislation Aims to Make Chapter 11 Easier for Many More Small Businesses", Daily Journal, April 2020
George P. Angelich, Panelist, “A New Frontier or the Wild Wild West: Practice Considerations in Subchapter V Cases”, ABA, Business Law Section Hybrid Spring Hybrid 2022, March 31, 2022
George P. Angelich, M. Douglas Flahaut & Justin A. Kesselman, Panelists, The Credit Research Foundation Forum, Changes to Subchapter V in Bankruptcy Law, March 15, 2022
Justin A. Kesselman, Panelist, “Subchapter V: Getting the Most Out of Small Business Reorganizations,” Credit Research Foundation, March 15, 2021.
M. Douglas Flahaut, Association of Insolvency & Restructuring Advisors’ 37th Annual Bankruptcy & Restructuring Conference, The Small Business Reorganization Act of 2019 – An Experiment Towards Success, June 30, 2021 (speaker).
George P. Angelich, Speaker, "Saving Small Businesses: Subchapter V, A Lifeline & Toolkit, Part 1 and 2," New York State Bar Association, April 16 & 23, 2021
George P. Angelich, Panelist, “Subchapter V: Getting the Most Out of Small Business Reorganizations,” Credit Research Foundation, March 15, 2021
M. Douglas Flahaut, Credit Research Foundation, Subchapter V: Getting the Most Out of Small Business Reorganizations, March 4, 2021 (speaker)
M. Douglas Flahaut, Central District Consumer Bankruptcy Attorneys’ Association, One Year Into SBRA: Meet the Subchapter V Trustees, February 20, 2021 (speaker).
George P. Angelich, Panelist, “NYIC: The Small Business Reorganization Act: Perspectives from all the Major Players in a Case,” Insolvency 2020: Restructuring, Insolvency & Distressed Debt Virtual Summit, October 22, 2020
M. Douglas Flahaut, Association of Insolvency & Restructuring Advisors’ 36th Annual Bankruptcy & Restructuring Conference, Small Business Reorganization Act of 2019: What you Need to Know Going Forward, June 9, 2020 (speaker).