Proposed Interim Rule and Official Form Amendments for Public Comment in Response to the Small Business Reorganization Act of 2019
On August 23, 2019, the Small Business Reorganization Act of 2019, P.L. 116-54 (SBRA) was enacted into law (see pdf). The SBRA creates a new subchapter V of chapter 11 for the reorganization of small business debtors. It does not repeal existing chapter 11 provisions regarding small business debtors, but instead creates an alternative procedure that small business debtors may elect to use. The effective date of the SBRA is February 19, 2020.
The proposed SBRA form changes and interim rules are open for public comment for a period of four weeks, starting on October 16, 2019. Information on how to submit comments can be found on the “Proposed Amendments for Public Comment” page (under the category, “October 16 Package”) of the Courts’ public website at: https://www.uscourts.gov/rules-policies/proposed-amendments-published-public-comment. The public comment period will close on November 13, 2019.