Sternberg, Nacarri & White, LLC is pleased to announce that Partner Ryan J. Richmond has achieved a significant milestone in Louisiana bankruptcy plans: he has successfully obtained confirmation of Louisiana’s first Small Business Bankruptcy Plan of Reorganization under the new Subchapter V.
Richmond’s Client, A. P. B. Trucking, LLC d/b/a Batiste’s Trucking (APB)’s plan of reorganization received overwhelming support from voting creditors, and was confirmed without objection by the United States Bankruptcy Court for the Middle District of Louisiana.
Although Ryan has successfully confirmed reorganization plans before, APB’s plan is a bankruptcy law milestone, as it was the first plan of reorganization in the State of Louisiana confirmed under the new Small Business Reorganization Act of 2019 (SBRA). In fact, APB’s plan of reorganization is one of the first in the United States confirmed under the new act.
The SBRA was enacted with broad bipartisan support to make chapter 11 reorganizations more affordable and more efficient for small businesses. It created the new Subchapter V, which eliminates many of the cost and procedural barriers that previously plagued small business bankruptcy reorganizations.
Ryan recently joined Sternberg, Nacarri & White and leads the firm’s bankruptcy practice. Ryan has practiced bankruptcy law for almost 15 years, representing debtors, creditors and trustees in and out of bankruptcy. He is also one of the first subchapter V trustees in Louisiana. Ryan also represents small businesses with his unique brand of concierge lawyering, which offers retainer-based or flat-fee business counsel.
If you have questions about bankruptcy, including the SBRA, contact Ryan at (225) 412-3367 or firstname.lastname@example.org.