Bankruptcy Practice Group
Our Bankruptcy Practice Group helps businesses and individuals in financial distress. Our bankruptcy knowledge and experience often allows our clients to avoid bankruptcy via out-of-court negotiations with lenders and other creditors. Often, we are able to convey a credible threat of filing bankruptcy because of our knowledge and reputation, which allows us to work with creditors to restructure obligations without the need to file for bankruptcy.
When needed, we file bankruptcy for our clients to stop lawsuits, foreclosure and other creditor action, to protect our clients’ assets, and to restructure and reduce our clients’ debts. We regularly file Chapter 7, 11 and 13 bankruptcy cases and have earned the respect of bankruptcy judges and trustees throughout the Central District of California. We take particular pride in our high success rate in exiting Chapter 11 bankruptcy cases with confirmed plans of reorganization.
We also represent creditors in bankruptcy cases and when bankruptcy is threatened. When bankruptcy is threatened, we are able to quickly and thoroughly assess the likelihood that the debtor will file bankruptcy and the probable outcome of the potential bankruptcy case. This often causes the debtor to abandon any bankruptcy plans. When bankruptcy cases are filed, we act aggressively to protect our clients’ interests and obtain the highest possible recovery. We regularly file and prosecute non-dischargeability lawsuits, seek relief from the automatic stay, and oppose Chapter 11 plans of reorganization. We excel at aggressively pursuing anyone filing bankruptcy in an attempt to eliminate debt owed to our clients.
Representative Bankruptcy Matters
- For a client who owns undeveloped residential property in Southern California, but faced an impending tax sale because of unpaid property taxes exceeding $1 million, we filed Chapter 11 bankruptcy on the eve of the tax sale, preventing the sale from taking place. In the bankruptcy case, we confirmed our client’s Chapter 11 plan in which the tax debt and other liabilities were favorably restructured.
- For a client who owns several commercial properties in Los Angeles and Riverside Counties, we filed Chapter 11 bankruptcy to prevent foreclosure sales and to restructure secured loans. The bankruptcy case resulted in a confirmed Chapter 11 plan in which several secured creditors were forced to accept modified loan terms very favorable to our client. Our client retained all of its properties and finds itself in a much stronger position post-bankruptcy.
- We represented a large financial institution in a contested Chapter 11 plan confirmation proceeding with respect to a $160 million defaulted loan secured by several properties in multiple jurisdictions.
- We represented a large paper supplier in successfully defending several preference and fraudulent transfer actions filed by the bankruptcy trustee.
- We have successfully prosecuted non-dischargeability lawsuits in Chapter 7, 11 and 13 bankruptcy cases.
- We have filed Chapter 7 bankruptcy on behalf of several wealthy individuals. Many of these cases have resulted in the elimination of judgment liens encumbering our clients’ real property.
- We have represented several secured creditors in Chapter 13 bankruptcy cases, in which we have prevented confirmation of the debtors’ proposed Chapter 13 plans.