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DelCotto Law Group Leads in 2020 Chapter 11 Bankruptcies

On Behalf of | Feb 24, 2021 | Bankruptcy, Business, Debt, Firm News, News

DLG: Most Eastern District Kentucky Filings of Chapter 11

In 2020, DelCotto Law Group PLLC filed more chapter 11 bankruptcy cases in the Eastern District of Kentucky than any other firm. [1] Additionally, the firm filed 45% of small business cases in 2020 in the Eastern District of Kentucky designated by debtors as Subchapter V of title 11 of the Bankruptcy Code (“Subchapter V”). [2]

Subchapter V cases are a result of the Small Business Reorganization Act (“SBRA”) which was signed into law on February 19, 2020. Cases filed under the SBRA are designed to be a more affordable and streamlined bankruptcy option for small business debtors. Under the CARES Act, the debt eligibility limit under Subchapter V was increased for one year only from $2,725,625 to $7,500,000. Unless Congress acts to extend the legislation, the increased debt eligibility limits will lapse on March 27, 2021. Individuals and small businesses are eligible to file under Subchapter V. Relief under chapter 11 can include business reorganization or liquidation or a combination thereof.

About DelCotto Law Group

DelCotto Law Group is Kentucky’s asset protection law firm known for its commitment to the lifetime success of its clients. With offices located in Lexington, Louisville and Danville, DLG serves Kentuckians with complicated financial matters, especially in the areas of bankruptcy and complex litigation. For more information please call (859) 231-5800, email [email protected] or reach us on our contact page.

[1] Information provided herein based on data from the PACER SYSTEM for 2020 filings.

[2] Information provided herein based on data from the PACER SYSTEM for 2020 filings.