Spencer Fane attorneys Eric Johnson and Elizabeth Lally recently co-authored an article for The Show-Me Banker, a bimonthly publication from the Missouri Independent Bankers Association.
In their article – Subchapter V Bankruptcy: Lenders, Time to Change Your Playbook – Eric and Elizabeth explain how bankruptcy restructuring is now more affordable for small businesses, thanks to the Small Business Reorganization Act and the effects of the pandemic. They also advise lenders on how to approach bankruptcy cases in light of these changes.
“Subchapter V is designed to be fast-moving and supportive of a debtor’s reorganizational efforts,” they said. “Lenders should be careful not to sit back and ‘wait and see’ what happens but should be prepared to work proactively in order to secure their rights and treatment.”
At Spencer Fane, Eric represents clients in bankruptcy; nonbankruptcy insolvency proceedings, such as receiverships and foreclosure proceedings; out-of-court workouts and restructurings; and other related insolvency matters. Elizabeth is a Subchapter V Trustee for Region 12 and Partner with Spencer Fane LLP’s bankruptcy group.
Read the full article and Show-Me Banker issue here.
