The United States Bankruptcy Code permits a "small business," defined as one with total debts of less than ________,to use a simplified,fast-track form of Chapter 11 reorganization bankruptcy.

Question

Quizplus · Accepted Answer

As of my last update, the United States Bankruptcy Code allows a "small business" with total debts of less than $2,343,300 to use a simplified, fast-track form of Chapter 11 reorganization bankruptcy. This threshold is periodically adjusted to reflect changes in the economy and inflation.

The United States Bankruptcy Code Permits a "Small Business," Defined