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Chapter 11 Bankruptcy Archives

Payless ShoeSource Filing for Bankruptcy, Following Trend of Struggling Retailers

bankruptcy-store.jpgAccording to the reporting from the Los Angeles Times, Payless ShoeSource has filed for Chapter 11 bankruptcy protection. The company, which is based in Topeka, Kansas, operates stores all around the country, including throughout the state of California. At least 400 stores are set to close nationally, with 30 closing in California alone.

Sungevity Files for Chapter 11 Bankruptcy Protection, Plans to Sell All Assets Off

Layoff.jpgThe Mercury News reports that Sungevity, an Oakland-based renewable energy company, has filed for Chapter 11 bankruptcy protection. According to the report, Sungevity has laid off several hundred employees and now plans to sell itself off to Northern Pacific Group, a venture capital company firm based in Minnesota. This sale can only go through with approval from a bankruptcy court.

Your Chapter 11 Bankruptcy Case Roadmap

Chap 11.jpgThe Chapter 11 bankruptcy process is notoriously complex. Indeed, the process can feel extremely overwhelming for those looking to reorganize their company's liabilities. Here, our San Jose business bankruptcy attorneys have put together a brief roadmap for what you can expect during your Chapter 11 bankruptcy case. More specifically, we have chronologically outlined some of the key events that will take place during the process.

Titans of Mavericks, LLC Files for Bankruptcy Protection

bankruptcy-protection.jpgAccording to reporting from The Mercury News, Titans of Mavericks, LLC, a surfing events and lifestyle brand headquartered in San Mateo County, California, recently filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Central District of California. Court records and reports indicate that the company is attempting to use the bankruptcy process and the Chapter 11 bankruptcy protections to help ensure that its assets and intellectual property are able to be sold off to a new buyer.

Chapter 11 Bankruptcy: How Do You Finance Post-Filing Operations?

chapter-11.jpgChapter 11 bankruptcy is also frequently referred to as a restructuring bankruptcy or as a reorganization bankruptcy. This is because the primary purpose of this type of bankruptcy is to allow the filing business to shed burdensome liabilities so that it can come out of the process on a sustainable financial path. Of course, actually getting through Chapter 11 and coming out in good shape can be difficult for any business. In fact, far too many businesses fail to ever regain stable financial footing. Ultimately, there is one specific challenge that all filing businesses face: The ability to access capital for post-filing business operations.

Mechanic's Liens and Bankruptcy in California

lien.jpgA mechanic's lien, also known as a construction lien, is an incredibly powerful collection tool that is available to contractors and subcontractors in California. In fact, any party that provides materials or labor in an effort to help improve real property may seek a mechanic's lien against the property in the event that they are not fairly paid for their contribution. Essentially, a mechanic's lien will give a person or company a creditor's interest in that property. Of course, if the owner of the property declares bankruptcy, things can quickly become extremely complicated. If your company is dealing with a mechanic's lien and a bankruptcy filing by the party that owns the property, please contact an experienced San Jose creditors' rights lawyer for immediate legal assistance.

California Gas Plant Files for Bankruptcy Protection

business-bankruptcy.jpgAccording to reporting from Business Insider, La Paloma Generating Co LLC, a California power producer, has filed for Chapter 11 bankruptcy protection. A representative from the company told reporters that the current market conditions and regulatory environment made it impossible for the natural gas plant to operate with its current debt load. The company has at least $524 million worth of outstanding debts. As such, the McKittrick based power plant will now enter Chapter 11 bankruptcy proceedings with the goal of shedding some of its burdensome financial obligations so that it can come out of bankruptcy on a more stable financial footing.

Supreme Court Hears Oral Arguments in Key Bankruptcy Procedure Case

chapter-11.jpgRecently, the Supreme Court of the United States heard oral arguments in the case of Czyzewski v. Jevic Holding Corporation. This case involves a dispute over commonly used Chapter 11 bankruptcy settlement procedures. More specifically, the question at stake is how much power individual bankruptcy courts will have to approve bankruptcy settlements that deviate from the typical order of creditor preference.

American Apparel Files for Chapter 11 Bankruptcy, Again

chapter-11.jpgIn October of 2015, the Los Angeles-based clothing brand American Apparel filed for Chapter 11 bankruptcy protection. By February 2016, the company had exited bankruptcy and was hopeful for the future. This occurred after the company got its creditors to approve its $230 million reorganization plan. The plan swapped large amounts of debt for equity. Unfortunately, less than a year later, it appears that the restructuring plan was inadequate to meet the financial challenges facing the company. According to Bloomberg news, American Apparel has once again filed for Chapter 11 protection.

Samson Resources Corp. Still Battling Junior Creditors in Bankruptcy Court

chapter 11.jpgAccording to recent media reports, Samson Resources Corp has a signed an updated reorganization agreement in hopes of exiting the Chapter 11 bankruptcy process. The oil and gas drilling company originally filed for Chapter 11 bankruptcy protection in September of 2015. However, since that time, the company has been in a battle with some of its creditors over its restructuring plan. The company hopes that its revised Chapter 11 reorganization plan will finally get approval from objecting creditors or alternatively allow it to defeat them in bankruptcy court. Once either occurs, the company will be able to move forward in the Chapter 11 process.