New bankruptcy chapter may aid smaller companies, group claims. (National Association of Credit Managers) From: San Diego Business Journal | Date: September 30, 1991| Author: LePage, Andrew | COPYRIGHT 1991 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

New bankruptcy chapter may aid smaller companies, group claims

A U.S. Senate subcommittee is considering adding a new bankruptcy chapter to give small businesses a quicker and cheaper road to financial reorganization.

The new Chapter 10 would offer relief from some of Chapter 11's cumbersome provisions. Chapter 11 reorganization, considered onerous, often puts salvageable companies out of business and provides no return to debtors.

The idea for Chapt...