According 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.
California businesses that file for bankruptcy protection are generally granted an automatic stay. In simple terms, an automatic stay provides the filing business with temporary relief from debt collections efforts. This includes relief from creditors that are seeking enforcement a judgment, foreclose on a property or the collection of debt in any other manner. Creditors are legally obligated to put all of those collection efforts on temporary hold. This is extremely useful for the filing company as it gives that business some space to devise a workable restructuring plan. However, creditors do not always abide by the automatic stay. If your company has been granted an automatic stay, and a creditor is continuing to take collection action, you need to speak to an experienced San Jose business bankruptcy lawyer immediately. Your company's legal rights are being violated.
A 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.
According to reporting from Reuters, Warren Resources, an oil and gas company, recently filed for Chapter 11 bankruptcy protection. The company, which operates heavily in California, has been hit hard by the steep decline in energy prices. Court filings indicate that Warren Resources currently has approximately $230 million in assets and $545 million in liabilities on their books. Chapter 11 bankruptcy protection will give the company an opportunity to restructure those obligations. If you think your business might need Chapter 11 reorganization, please contact an experienced California Chapter 11 bankruptcy attorney for immediate legal assistance.
When a business files for bankruptcy protection, they are generally granted an automatic stay. This stay temporarily protects the firm that filed for protection from most legal actions that could be taken by a creditor. This could include the halting of a foreclosure, halting any garnishment or putting a stop on any other type of debt collection activity. However, there are some scenarios where a creditor may be able to get relief from an automatic stay. If you have questions about motions for a relief from a stay, or automatic stays in general, please contact an experienced San Jose creditors' rights attorney for immediate assistance.
The Silicon Valley Business Journal recently reported that Sports Authority has filed for Chapter 11 bankruptcy. The company announced their plans to close almost one third of the stores across the country. According to the plan, over a dozen stores will be closing in California, but all of the Bay Area locations will remain open. Chapter 11 bankruptcy protection gives a business an opportunity to reorganize and emerge stronger and healthier. If you think reorganization might make sense for your company, please contact an experienced San Jose Chapter 11 bankruptcy lawyer to learn more.
When you stay in possession of an apartment or leased property after the expiration or termination of the lease, and you refuse to leave, your conduct, in the eyes of the law, is defined as an unlawful detainer. These actions are common when the landlord of the property is attempting to evict tenants that do not pay rent or expose the property or other tenants to danger. Landlords are required to use this process because under California law, they are not permitted to engage in any self-help remedies to remove a tenant who refuses to leave.