Strengthening Federal Bankruptcy Laws: Implications for Small Businesses


  • Matthew C. Sonfield Hofstra University


Significant  changes  in the American  bankruptcy  laws  have  recently  been passed   by  both Houses of Congress. Although the terrorist attacks of September 11 , 2001 have temporarily delayed final approval by President Bush, he has indicated his endorsement of these modifications to the law, and eventual realization is expected. While most of the publicity regarding these proposed changes has focused on their  impact upon individuals and their ability to erase personal debts, small businesses are also extensively impacted by  these changes. This article first explains bankruptcy law in general as it affects small companies, then discusses the expected changes in the law and their small business implications,  and finally suggests appropriate responses for small business owners, managers and their consultants.


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Small Business Brief

How to Cite

Strengthening Federal Bankruptcy Laws: Implications for Small Businesses. (2002). Journal of Small Business Strategy (archive Only), 13(1), 88-94.

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