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Rapid P&P LLC hopes to save money and be out of bankruptcy reorganization quicker by using a bankruptcy procedure that went into effect in February 2020.
Subchapter V includes a specific provision which excepts from discharge debts for willful and malicious injury by the debtor to another to another entity or to the property of another entity.
In 2019, Congress enacted the Small Business Reorganization Act. This legislation created a new type of Chapter 11 reorganization under which certain businesses with total debts less.
For now, the Subchapter V debt limit is back down to $2.7 million. Overshadowed by the contentious confirmation hearings for historic Supreme Court nominee Ketanji Brown Jackson, .