While the COVID-19 pandemic has negatively affected many industries and underlying companies, its most devastating impact has been on small businesses, which account for more than 50% of the U.S. jobs. Recognizing the need to assist small businesses emerge from the crisis, the legislation under the CARES Act and the Small Business Reorganization Act of 2019 provides U.S. Government loan guarantees under the SBA program as well as a number of expedient and less expensive options to restructure debt obligations, with the pre-petition debt ceiling raised from $2,725,625 to $7,500,000.
The panel will examine the provisions of the CARES ACT and SBRA, advantages over traditional Chapter 11 filing, as well as the range of consensual out-of-court restructuring options which may be available prior to filing. Valuation of distressed businesses will also be addressed.
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