CHICAGO (DATE TBD) – On the eve of the nation’s largest gathering of Bankruptcy Trustees which includes the newly appointed d Subchapter V Bankruptcy trustees, Newpoint Advisors Corporation congratulated Senior Managing Director Matthew Brash and Senior Managing Director Tim Stone for “proving Newpoint’s Subchapter V model works.”
“In over 50 cases, in which Matthew and Tim were the Subchapter V trustee, they demonstrated that our insights, honed by focusing on small, distressed companies is a successful approach,” said Newpoint President Ken Yager.
Matthew is the SBRA Subchapter V Trustee for the Northern District of Illinois, Eastern Division and Tim is the SBRA Subchapter V Trustee for the Middle District of Tennessee. They will be attending the National Association of Bankruptcy Trustees (NABT) conference in Chicago August 25-27. As the Senior Managing Directors and lead of the TRAIL (Trustee, Receivership, Assignee, Interim Management, Liquidation) at Newpoint Advisors (www.newpointadvisors.us), they became two of the first Subchapter V Trustee appointed under the new Subchapter V of the Chapter 11 bankruptcy code. Not only was Tim appointed to the first case filed under the Subchapter V of the Chapter 11 bankruptcy code, both Matthew and Tim have also been elevated to the Trustee in Possession as well.
Subchapter V, which came into effect in February 2020 under the Small Business Reorganization Act (SBRA), enables small business owners facing bankruptcy to organize their debts in a faster and more affordable way. Reduced compliance costs, streamlined processes, and faster timetables all mean that small businesses have more flexibility, fewer onerous hurdles, and a better chance of emerging from bankruptcy in a much stronger position than they would otherwise.
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