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A Lifeline for Small and Medium-Sized Businesses in Distress

A Lifeline for Small and Medium-Sized Businesses in Distress:  A Practical Guide to the Small Business Reorganization Act (SBRA) as Supercharged by the CARES Act
Wednesday, May 20, 2020 | 12:30 p.m. - 2 p.m.

Program Fee: 
Free for Members and Non-Lawyers | $15 Non-Members 
Non-Lawyers please call Customer Relations to register at (212) 382-6663 

Please Note: All attendees will receive an email confirmation including a Zoom invite two hours prior to the program with details of how to access the webinar.

This program is designed to inform small and medium-sized businesses and their attorneys, accountants and other financial advisors, about recent amendments to the Small Business Reorganization Act (SBRA).  The new law allows for a faster, more effective and less expensive way for businesses to reorganize their debts, owners to hold on to their businesses and employees to keep their jobs, all of which are of critical importance to our economy during these particularly troubled times.  Under the CARES Act (enacted in response to the COVID-19 pandemic), Congress increased for a one-year period the debt limit to file under the SBRA almost three-fold, to $7.5 million, making many more businesses eligible to restructure their debts using the new streamlined procedures—whether or not their debts are related to the pandemic.

The program will include views from a Bankruptcy Judge and one of the new “pool” trustees appointed in every case in order to help facilitate reorganizations.  Our panelists will provide an overview of the new law, with comparisons to other more traditional parts of the Bankruptcy Code, as well as a deep dive into how a business may use the new law to reorganize, featuring specific examples.  We will also discuss various open issues that the law does not address, providing businesses (including individuals whose debts are primarily business related) and their professionals with options to help troubled businesses survive and potentially thrive.  

Thomas Slome, Cullen and Dykman LLP; Treasurer, New York City Bar Association

Sheryl P. Giugliano
, Diamond McCarthy LLP

Hon. Nancy Hershey Lord, U.S. Bankruptcy Court, E.D.N.Y.
Kenneth M. Lewis, Whiteford, Taylor Preston LLP
Jil Mazer-Marino, Cullen and Dykman, LLP
Jack Rose, Rosenberg & Estis, P.C.
Dennis J. Shaffer, Whiteford, Taylor Preston LLP
Nat Wasserstein, Lindenwood Associates, LLC
Sponsoring Committee: 
Bankruptcy & Corporate Reorganization, Christopher K. Kiplok, Chair

New York City Bar Association 42 West 44th St New York, NY 10036 UNITED STATES

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