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Small Businesses to Get a ‘More Affordable, Efficient Way’ to Restructure Debt
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Small Businesses to Get a ‘More Affordable, Efficient Way’ to Restructure Debt
Congress has passed legislation raising the debt limit for Subchapter V bankruptcy reorganization from $3.4 million to $7.5 million, offering small business owners a faster, more affordable alternative to standard Chapter 11. Co-sponsored by Sen. John Cornyn and praised by state bankruptcy judges, the Bankruptcy Threshold Adjustment Act awaits the president's signature.
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