As 2023 continues throwing economic curveballs in the shape of bank failures and interest rate limbo, bankruptcy work may continue picking up as the rest of the year unfolds. With the new bankruptcy Subchapter V filing option available, Florida is seeing a huge uptick in those cases.

In 2019, Congress passed the Small Business Reorganization Act, amending Chapter 11 to make it easier for small businesses to successfully declare bankruptcy. The law added the Subchapter V amendment to Chapter 11 and eased the financial burden on small businesses filing for bankruptcy by eliminating certain fees.