COVID-19 Bankruptcy Relief Extension Act of 2021

The “COVID-19 Bankruptcy Relief Extension Act of 2021” was signed into law by President Biden on March 27, 2021.  Among other provisions, the debt limit under subchapter V of the Small Business Reorganization Act has been increased from $2,725,625 to $7.5 million for another year, until March 27, 2022. Subchapter V provides for a streamlined chapter 11 reorganization for qualified small businesses.  More information about Subchapter V is available here: