More on the Small Business Bankruptcy Designation

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A few days ago, I posted on the small-business designation in chapter 11 and how it appears to be honored in the breach. That post prompted further discussion on a listserv for bankruptcy professionals, which in turn led to a summary and some interesting comments from Michael Good on his own blog. Good is a bankruptcy lawyer in the Los Angeles area and does a lot of work with financially distressed small businesses. Whether you agree with Good, his post is worth a read, especially the part where he discusses how the traditional law firm business model might pushes lawyers away from pursuing clients who might have small business 11s.