Small Business Reorganization Act of 2019 (SBRA) is Effective

Small Business Reorganization Act of 2019 (SBRA) is Effective

The Small Business Reorganization Act of 2019 (“SBRA“) is in effect as of yesterday, February 19, 2020.  The SBRA was enacted to provide smaller business debtors with a more streamlined path to restructuring their debts.  Below are some highlights of the new law. Absolute-Priority Rule The SBRA exists today, in large part, because small businesses… Continue reading Small Business Reorganization Act of 2019 (SBRA) is Effective

Energy: Samson Resources’ Prenegotiated Reorganization Plan with Fulcrum Debt

As predicted at the Commercial Finance Association’s Fourth Annual Energy Summit on September 16th, we should start seeing more and more oil & gas companies struggle to survive in the wake of continued low commodity pricing.  While we witnessed some rebound in pricing towards the end of the summer, the price of oil again dipped… Continue reading Energy: Samson Resources’ Prenegotiated Reorganization Plan with Fulcrum Debt

Fifth Circuit Rejects Foreign Restructuring Plan

The recent case of In re Vitro S.A.B. de C.V., No 12-10542 (5th Cir. Nov. 28, 2012) involves the recognition and enforcement by a United States Federal Court of a foreign bankruptcy proceeding and foreign plan of reorganization, pursuant to Chapter 15 of the Bankruptcy Code.  An earlier discussion of this case appears in a prior submission entitled… Continue reading Fifth Circuit Rejects Foreign Restructuring Plan

Reddy Ice to Exit Bankruptcy

On May 18, 2012, the Bankruptcy Court for the Northern District of Texas confirmed Reddy Ice’s chapter 11 plan, paving the way for the Company to exit bankruptcy.  The Company announced that it would be prepared to exit bankruptcy in the next week or so.  Reddy Ice filed for chapter 11 bankruptcy on April 12… Continue reading Reddy Ice to Exit Bankruptcy