Bernstein Shur’s Robert Keach Quoted in Bloomberg: ‘Small-Business Bankruptcy Rules Poised for Extension by Congress’
Small-Business Bankruptcy Rules Poised for Extension by Congress
By Steven Church and Lauren Coleman-Lochner
Bloomberg (Feb. 16, 2022) — In an era of hyper-partisanship, an obscure federal program that makes it easier for small-business owners to shed debt in bankruptcy has been embraced by Democrats and Republicans, who are now weighing an extension of this rule.
“You have a mountain of debt that has not been addressed,” said Robert J. Keach, an attorney who advocated for the program as a member of the American Bankruptcy Institute. Government assistance and eviction moratoriums have allowed small businesses to exist in a temporary limbo that can’t last. “I think there will be two or three times as many Sub Vs this year.”