Tag Archives: 1209

Bankruptcy Preference Amendment(s) Effective February 19, 2020

On August 23, 2019, the Small Business Reorganization Act (H.R. 3311; S. 1091) (the “SBRA”) was signed into law.  The law is effective 180-days following enactment, that is on February 19, 2020. Congress incorporated two important changes into the SBRA that may have broader implications beyond small business reorganizations as applicable to the recovery of “preferential transfers” under Section 547 of the Bankruptcy Code. First, a debtor or trustee is required to consider a party’s statutory defenses “based on reasonable due diligence in the circumstances of the case and taking into account a party’s known or reasonably knowable affirmative defenses” […]

Posted in Bankruptcy, Federal Rules of Bankruptcy Procedure, Preference | Also tagged , , Comments Off on Bankruptcy Preference Amendment(s) Effective February 19, 2020
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