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Keith Owens, left, and Craig Tractenberg, right, of Fox Rothschild. Keith Owens, left, and Craig Tractenberg, right, of Fox Rothschild.

The CARES Act has amended the Bankruptcy Code to provide an expedited and easier version of a business bankruptcy proceeding. We now have “Subchapter V” for small business and individual debtors. This process fulfills a sweet spot for small franchisors and franchisees. It anticipates a Chapter 11-type result, without the administrative headaches and expense, within 90 days of filing.

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Published by The Legal Intelligencer, and in cooperation with the Pennsylvania Institute of Certified Public Accountants, the Pennsylvania Tax Handbook is a reference too...

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