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- PIMCO’s Bill Gross: On the "Course" to a New Normal, September 2009 Investment Outlook
- Session: Automating Payables to Optimize Working Capital
- Session: Re-inventing your AP process.
- Session: Kyriba demonstrates their ASP-based cash management operation.
- Session: Cash Flow Forecasting: Overcoming Challenges
Why is the current Chapter 11 such a bad fit for small businesses? Why do so few small business bankruptcies lead to a Plan of Reorganization? What are some of the proposals being considered to fix the mismatch between the Chapter 11 code and the needs of debtors and creditors in small business bankruptcies? Ms. Juliet Moringiello, ABI Resident Scholar, and Professor Melissa Jacoby of UNC School of Law recently discussed these important and interesting issues.
This post is Part II. Part I is the previous blog post.
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Why is the current Chapter 11 such a bad fit for small businesses? Why do so few small business bankruptcies lead to a Plan of Reorganization? What are some of the proposals being considered to fix the mismatch between the Chapter 11 code and the needs of debtors and creditors in small business bankruptcies? Ms. Juliet Moringiello, ABI Resident Scholar, and Professor Melissa Jacoby of UNC School of Law recently discussed these important and interesting issues.
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The 2005 Bankruptcy Act was written to rein in overspending consumers, but the most current data (12/31/07) show that, rather than buying luxuries, 14% of Chapter 13 filers drained their resources trying to finance their businesses. Professor Robert Lawless of Univ. of Illinois School of Law spoke to the American Bankruptcy Institute about his latest research. We recommend that, rather than pushing lenders to weaken credit standards, business owners need to learn how to put the tools of turnaround management to work every day.
