Senate to Extend Debt Ceiling for Chapter 11 Bankruptcies
New Bankruptcy Legislation If passed by the House and signed into law, small business borrowers with up to $7,500,000 in noncontingent, liquidated debts will be eligible for relief under Subchapter V for another two years. The ceiling was previously raised to $7,500,000 under the CARES Act in 2020.
Source: natlawreview.com