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Congress Moves to Streamline Chapter 11, Help Small Businesses Restructure Debt

The Small Business Reorganization Act is working to streamline bankruptcy procedures. Chapter 11 in the bankruptcy code was designed for administering complex business reorganizations involving multi-million dollar companies. Though several provisions specifically focus on small business debtors, a significant amount of research shows that Chapter 11 may still create difficulties for small businesses, including high costs, deficits, and procedural roadblocks. 

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Diana SalvucciBankruptcy