Charles N. Persing, CPA/CFF, CVA, CFE, CIRA authors article, Subchapter V Bankruptcy: A Lifeline to Small Business for the February edition of New Jersey Business Magazine.
The article provides an explanation of the Small Business Reorganization Act (SBRA) , known as Subchapter V, which was added to chapter 11 of title 11 of the United States Bankruptcy Code. Subchapter V was created as a faster, less expensive solution for small businesses facing insolvency.
The article describes the ideal candidate to file Subchapter V, when to seek help, what to do when you are ready to file and more.
Mr. Persing is a partner in the insolvency and litigation services division at Bederson. He is also a Subchapter V Trustee in the Eastern and Southern Districts of New York.