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Posts tagged "Chapter 11"

Bankruptcy Offers Protection and the Opportunity to Restructure a Business

chapter-11.jpgThe term "bankruptcy" is loaded with meaning. When reading it, one might conjure images of a dream gone bust, a life gone wrong, and a hopeless future. Such a grim picture simply does not square with reality, however. The truth is that many individuals and businesses that choose to go through the bankruptcy process go on to experience great success in life and in business.

Bankruptcy is an Option for Businesses in California and Beyond

types-of-bankruptcy.jpgBankruptcy is one of those subjects that most people don't know much about because they don't want to know about and even tune out information or avoid the topic altogether. It is a shame because filing bankruptcy can help individuals to jettison debt or craft a viable plan to repay debts. In the Bay Area, a person can begin the process by working with an experienced San Jose bankruptcy attorney to file a petition with the bankruptcy court.

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.

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.

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.

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.

  • 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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