Filing for Chapter 11 Bankruptcy in Los Angeles
How Our Los Angeles Bankruptcy Lawyers Can Help You
Chapter 11 bankruptcy is known as reorganization bankruptcy and is used by businesses, including small businesses, partnerships, sole proprietorships, and corporations, to reorganize their assets to save the business and pay off debts. A Chapter 11 debtor has the exclusive right to file a plan of reorganization with the bankruptcy court for 120 days under 11 U.S.C. § 1121(b) of the Bankruptcy Code. This period can be extended by the bankruptcy court but after it expires, creditors or trustees may file separate plans with competing interests.
The Los Angeles Chapter 11 bankruptcy lawyers at the Law Offices of Michael Jay Berger help debtors work out a plan of repayment for approval by a bankruptcy court judge. Filing a repayment plan makes debt more manageable for businesses because it stops creditors from pursuing collection actions and foreclosures, and it allows businesses to restructure their assets to continue operations successfully. We help clients through the entire bankruptcy process, which includes the following:
- Filing a bankruptcy petition and bankruptcy schedules
- Completing the 7 day package. This includes advising the debtor regarding the requirements of the Office of the United States Trustee as set forth in its Guidelines and Requirements for Chapter 11 Debtors in Possession.
- Preparing Applications to Employ Professionals, including General Counsel and Real Estate Brokers.
- First Day Motions, including Utilities Motions, Payroll Motions, Motions to Pay Essential Suppliers, Motion to Pay Health Care Providers
- Preparing Cash Collateral Motions
- Preparing Valuation Motions
- Opposing Motions for Relief from Stay
- Assisting the Debtor in Preparing Monthly Operating Reports.
- Filing necessary motions and fighting creditor motions
- Representing clients in adversary proceedings
- Drafting and amending disclosure statements and plans of reorganization
The length of time it takes to develop and present a Chapter 11 plan of reorganization depends on the circumstances of the business and its debts, but typically takes several months. A lawyer must analyze business assets and debts to evaluate the length and complexity of your bankruptcy proceeding.
Our experienced and successful Chapter 11 bankruptcy lawyers in Los Angeles include Ori Blumenfeld, Renee Linares, Sheila Esmaili and Alexander Shekarchian, as well as our hardworking paralegals, who work under the guidance of firm founder Michael Jay Berger. Together, we help businesses restructure their operations through Chapter 11 and continue on to successful operations.
I have represented the debtor in more than 100 Chapter 11 cases. In these cases, my Associate Attorneys and I have successfully prepared many types of Applications and Motions, including, but not limited to, First Day Motions, Employment Applications, Fee Applications, Motions to Sell both real and personal property, and valuation motions. We have successfully opposed many kinds of Motions including, but not limited to, Motions for Relief from Stay, Motions to Allow a Receiver to Remain in Place, and Motions to Convert or Dismiss. We have done every type of OUST compliance, and represented debtors at Initial Debtor Interviews, 341(a) hearings, 2004 exams, Status Conferences, Cash Collateral Motions and other Motion Hearings. We have had Disclosure Statements approved and confirmed plans of reorganization.
A significant case that I represented the debtor in is In re Twelve Signs Incorporated, Case No. 2:10-bk-11758-PC. This case involved the liquidation of various intellectual property of an astrological products company, including the magazine "Star Scroll." An Order confirming the Debtor's Plan of Reorganization was entered on July 7, 2011.
Another significant Chapter 11 case that I represented the debtor in is In re Rahim Zabihi, Case No. 8-10-bk-11504-TA. That case involved the successful reorganization of two veterinarian clinics and five pieces of real property. An Order Confirming Debtor's Plan of Reorganization was entered in that case on July 18, 2011.
On September 1, 2011, I confirmed a plan of reorganization in a Chapter 11 Case entitled In re Ludo Gust Mensch and Lorraine Patricia Mensch, Case No.: 1:10-bk-22102-MT. This case involved the successful reorganization of a construction company and two pieces of real property.
On January 24, 2012, I confirmed a plan of reorganization in a Chapter 11 Case entitled In re Moshe Segev and Michelle M. Cohen, Case # 1:09-bk-23222-GM. This was a personal Chapter 11 for a couple with 4 children under the age of 9. I successfully brought multiple valuation motions and reduced the secured debt on debtors' investment properties. My clients restructured their debts and kept 4 out of 6 properties.
