Application Essay

Description

This Year’s Topic: “The CARES Act, passed by Congress and signed by the President at the end of March 2020, included changes to the U.S. Bankruptcy Code which were intended to help deal with the Covid-19 pandemic. One of the major changes was the temporary expansion of the use of subchapter 5 of Chapter 11 of the Bankruptcy Code, which was already part of the Small Business Reorganization Act of 2019, by vastly raising the debt cap to $7.5 million, thereby expanding the applicability of a statute which was passed to make the reorganization of small businesses more expeditious, efficient and affordable. The most innovative change in subchapter 5 is having a businessman, rather than attorneys from the United States Trustee’s Office, operate as the trustee over the Subchapter 5 Chapter 11 case. Please discuss if this change with the trustee can help with the goals of expanded access and efficiency under subchapter 5?” Submissions should be in Microsoft Word and should be under 1,500. The paper must demonstrate understanding of the issues raised, originality, quality of writing, and the applicant’s demonstrated potential for success in a field related to law.