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The Bankruptcy Corrections Act revived the $7.5 million eligibility threshold for accessing the restructuring process in Subchapter V of Chapter 11 and clarifies that subsidiaries may be eligible for Subchapter V, effectively abrogating caselaw holdings to the contrary.
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.
The National Tractor Parts holding establishes that substantial consummation even if distributions are de minimis locks in a consensual plan and prevents post-confirmation plan modification by subchapter V debtors. But this holding does not extend to non-consensual plans
Congress passed the CARES Act,raised the Subchapter V debt ceiling to $7.5 million for one year and it expired, President Biden signed new law the $7.5 million debt ceiling will remain effective until June, 2024.Subchapter V remains popular,and improved cost effectiveness
Families of victims of the Sandy Hook Elementary School shooting say they want to be reimbursed for fighting Alex Jones' "sham" bankruptcy.