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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...
In re Cleary Packaging, LLC No. 21-1981 signals a departure from the trend of lower courts that have considered the issue and places more pressure on subchapter V debtors to confirm consensual plans in the Fourth Circuit.
On June 7, 2022, the Fourth Circuit Court of Appeals unanimously held that the exceptions to discharge found in section 523(a) of the Bankruptcy Code, which ordinarily exclusively apply...
As discussed in prior posts and articles (here, here and here), in 2019 Congress passed the Small Business Reorganization Act creating new Subchapter V of Chapter 11 of the Bankruptcy...
Fourth Circuit decision In re Cleary Packaging, LLC, clarified in some Subchapter V cases, statutory exceptions to bankruptcy discharge applies to corporate debtors, a significant shift in Bankruptcy Code Chapter 11 corporate reorganization law.