On April 20, Jason Torf presented to members of The Toy Association, where he provided an overview of new subchapter V of the Bankruptcy Code, which streamlines the process of a chapter 11 reorganization for small business debtors in a way than can negatively impact trade creditors versus a traditional chapter 11 bankruptcy. Jason analyzed the rights that trade creditors have when a company they do business with files subchapter V bankruptcy, as well as the rights that they lose. He also discussed subchapter V bankruptcy eligibility requirements and the differences between this type of bankruptcy and a chapter 11 bankruptcy.