Commercial office vacancies have skyrocketed and rents have plummeted. Tenants, required to examine their space requirements post-pandemic, are also figuring out how to take advantage of the lower rents. A recent addition to the Bankruptcy Code provides a potential answer.
Legal commentators have long lamented that Chapter 11′s high costs and complexities make it too difficult for small businesses to successfully reorganize. In response to these concerns, Congress recently passed amendments to the Bankruptcy Code known as the Small Business Reorganization Act (SBRA).
