Small business recovery in the United States under the small business reorganization act of 2019

• Autores: Jason Kilborn
• Localización: Revista General de Insolvencias & Reestructuraciones: Journal of Insolvency & Restructuring (I&R), ISSN-e 2697-0953, Nº. 1, 2021, págs. 199-209
• Idioma: inglés
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• Resumen

  • The US Small Business Reorganization Act of 2019 responds to international calls for making business insolvency procedures less cumbersome and expensive and more effective for smaller entities an individual entepreneurs. A temporary revisión makes these new procedures available to more businesses in light of the extreme challenges of the COVI-19 pandemic, but most of the provisions of the SBRA will remain a permanent part of US bankruptcy law. With a combination of facilitated negotiation and statutory, non-negotiated paths to recovery, the SBRA implements a two-part model that other countries would be wise to consider, even in the absence of other notable aspects of the US bankruptcy system (i.e., specialized bnakruptcy courts). Empirical reults of the first several months of the new procedure are encouraging and warrant careful attention in the years ahead.