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The U.S. small business bankruptcy amendments: A global model for reform?
Author(s) -
Janger Edward J.
Publication year - 2020
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.1386
Subject(s) - statute , bankruptcy , business , law and economics , code (set theory) , business model , small business , political science , economics , law , finance , computer science , marketing , set (abstract data type) , programming language
On February 19, 2020, the Small Business Reorganization Act of 2019 went into effect in the United States. This statute was intended to make the rescue regime of Chapter 11 of the United States Bankruptcy Code more effective for smaller businesses that would not otherwise have the financial wherewithal to complete a traditional Chapter 11 reorganization. This article describes the central innovations of the new statute, and considers whether they might be adaptable by other countries.