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Wolfson Bolton Confirms First Small Business Bankruptcy Plan in Michigan under New Law

Wolfson Bolton attorneys Michelle H. Bass and John R. Stevenson obtained significant victories for a WB client, settling a multimillion-dollar non-bankruptcy lawsuit through confirmation of a Chapter 11 plan under the Small Business Reorganization Act of 2019.  This is the first small business case to be confirmed under the Act in Michigan, and one of the first in the nation.

WB utilized the Act to protect an individual business owner’s personal assets, including his non-debtor, solely-owned business through a plan of reorganization. WB obtained dismissal of a creditor’s pre-bankruptcy lawsuit seeking to hold a debt non-dischargeable and settled a multimillion dollar claim for six-figures to be paid over the course of five years. Wolfson Bolton is proud to serve as a pioneer in the new era of small business reorganizations.