Email from Steve Fox
Dear All:
We have a really timely and good program for you.
Starting in February, 2020, small businesses (including individuals) will have a new means to reorganize under chapter 11, the Small Business Reorganization Act (or “SABRA”). The Act packs a lot of power, a lot of issues and a lot of food for thought. Perhaps 90% of all businesses filing under chapter 11 could be eligible to opt in to SABRA and its provisions. SABRA may also be a means to handle oversized chapter 13 cases.
The panel has been working hard on this topic. Lew Landau is an experienced chapter 11 practitioner. Jeremy Rothstein of Greenberg & Bass is the author of an article about SABRA. Judge Ahart (ret) is well known to section members as a fine speaker and thinker. Yours truly is also on the panel. Given the amount of material and issues, the panel will speak for 2 hours instead of the normal 1 and ¼ hours. The panel has spent hours debating the statutes, what they mean or what they could mean. If the panel does not have definitive answers, something which happens when a new law is passed, the panel will have the right questions.
The handout materials will include a section by section analysis of the new act. The materials include (1) highlights of the new act, (2) an analysis of whether a debtor would seek confirmation under new Section 1191(a) or (b), (3) how to seek confirmation of a plan, (3) the SABRA trustee’s powers, duties and removal and (4) what statutes do not apply to a SABRA case. This last item, which statues do not apply to SABRA cases, is pivotal. This is where fights will be won.
Why attend? If you practice consumer law including chapter 13s, you will find the program important as a means to address putative chapter 13 clients whose debts are too large for chapter 13. If you represent creditors, you need to know the new statutes. If you do chapter 11 debtor work now or think you may, then the program is important for you.
Here are the program particulars:
- Where: San Fernando Valley Bar Association, 20750 Ventura Blvd., first floor, Woodland Hills, CA 91364
- When: Friday, December 13, 2019 from 12 noon until about 2:15 p.m.
- MCLE: 2 hours MCLE; Approved for Bankruptcy Law Legal Specialization
- Prices: Members in advance $50: Members at the door $60; Non-members in advance $80; Non-members at the door $90.
- To make reservations: Go to SFVBA.org or contact Linda Temkin at (818) 227-0490 or at events@sfvba.org
Sincerely,
Steven R. Fox
The Fox Law Corporation