Congress Passes Legislation to Revive Expanded Debt Ceiling for Subchapter V Bankruptcy
By George Angelich, ArentFox Schiff LLP and Travis Vandell, Stretto
The House has passed a bill that will now go to the President to sign raising the eligible debt ceiling for subchapter V of chapter 11 to $7.5 million. Small businesses with noncontingent, liquidated debts up to this threshold will again be eligible for relief under subchapter V for another two years.