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ARTICLE · 28 MAY 2024

Subchapter v Practice In The Eighth Circuit: The First Four Years

Thompson Coburn LLP
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The new Subchapter V of Chapter 11 became effective on February 19, 2020. Designed to streamline reorganizations for small businesses, the new Subchapter V has proven very popular.

United StatesFinance and Banking
David Warfield
David Warfield
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The new Subchapter V of Chapter 11 became effective on February 19, 2020. Designed to streamline reorganizations for small businesses, the new Subchapter V has proven very popular. The Final Report of the American Bankruptcy Institute ABI Task Force (the "ABI Task Force") identified 6,410 Subchapter V cases filed nationwide between Subchapter V enactment in February 2020 and December 31, 2023. Subchapter V filings comprised about one-quarter of a Chapter 11 cases filed during that period.

Subchapter V filings have exploded so far in 2024. In the first four months of 2024, 880 Subchapter V cases were filed nationwide, an increase of 45.7% over the same period in 2023. The Subchapter V filings in the first four months of 2024 are 12.3% higher than any other four-month period. While the looming expiration of the temporary increase in the debt limit for Subchapter V (more about that below) may have contributed to the recent surge in filings, it is clear that Subchapter

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