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Chapter 11 Bankruptcy Archives

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.

Bankruptcy for Small Businesses in California

business bankruptcy.jpgChapter 11 bankruptcy is a beneficial reorganization tool for many financially distressed businesses. Filing Bankruptcy can help a business in many ways. You can reorganize your debt, both secured and unsecured. Bankruptcy can give you protection from your creditors while you litigate against businesses or person who have interfered with your business. Bankruptcy can also help you with your debt.

California Business Bankruptcy: What to Expect at a Meeting of Creditors

creditors meeting.jpgAll businesses that file for bankruptcy protection will eventually face a meeting of creditors. Also known as a 341 meeting, this meeting is required under the Bankruptcy Code. The broad purpose of the meeting is to ensure that the filing business has fairly and honestly represented its assets and liabilities to the creditors. If your business is soon facing a 341 meeting in Silicon Valley, you should contact an experienced San Jose business bankruptcy attorney today to further discuss your legal rights and options.

Chapter 11 Bankruptcy: Equal Treatment of Creditors

chapter-11.jpgChapter 11 bankruptcy is also known as a reorganization bankruptcy. This is because companies enter Chapter 11 with the goal of shedding overly restrictive obligations, restructuring their debt and emerging as a stronger and healthier business. The Chapter 11 process requires that companies come up with a realistic reorganization plan. A restructuring plan must be approved before a company can move forward with reorganization. Chapter 11 plans will only be approved if they meet all relevant legal requirements. One of the most often contested requirements is the provision that demands the equal treatment of creditors. An experienced Chapter 11 lawyer can help your company craft an effective reorganization plan that meets this legal requirement along with all others.

Warren Resources Files for Chapter 11 Bankruptcy Protection

restructuring.jpgAccording 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.

Chapter 11 Bankruptcy: Dealing with Intangible Assets

chapter 11.jpgIn many ways, Silicon Valley has changed the way the world thinks about business. For example, the innovative transportation company, Uber, is now valued at more than $60 billion, yet it essentially owns no vehicles. Uber's assets are mostly intangible. Increasingly, businesses in Northern California share that characteristic. Intangible assets might be the key to your company. However, if bankruptcy becomes necessary, your business will also face some unique challenges when dealing with these assets.

Retaining Key Executives during the Bankruptcy Process

business bankruptcy.jpgChapter 11 bankruptcy is to designed to help companies reorganize their obligations so that they can emerge stronger and healthier. If a business is going to keep operating after going through bankruptcy, then it is critical that the company is able to keep important talent. If too many key employees leave during the restructuring process, the company will have a much harder time going forward. The entire purpose of reorganizing may be undermined. An experienced San Jose business bankruptcy attorney can help your company devise strategies to retain important executives.

Sports Authority Files for Bankruptcy Protection

chapter 11.jpgThe 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.

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
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