HR 5939
Small Business Reorganization Technical Corrections Act
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Bill overview
This bill makes technical changes to the Small Business Reorganization Act, primarily within the context of bankruptcy law. It clarifies the definition of a ‘small business debtor’ to include affiliates of certain publicly traded companies and expands the authority of bankruptcy trustees to operate a debtor’s business if the debtor is no longer operating as a debtor in possession. The bill also modifies the requirements for confirming a reorganization plan, emphasizing the need for a reasonable likelihood of payment and including provisions for asset liquidation if payments are not met.
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