Serving Up Some Help: How Subchapter V Can Solve Problems for Service Industry Debtors During the Time of COVID-19
By Libby Jacobson and Samuel M. Andre
As COVID-19 continues to devastate the U.S. and local economies, the service industry in particular has experienced substantial declines in both business and profits. However, the new Subchapter V of Chapter 11 of the Bankruptcy Code and the CARES Act have provided service industry debtors with new and potentially life-saving tools to solve their unique debt issues moving forward.