Tag Archives: asset
When Can a Company File a Chapter 22 Bankruptcy Case?
Chapter 11 bankruptcy cases focus on relieving a company’s debt and restoring solvency. A Chapter 11 plan allows the company to continue operating while under protection from creditors, to renegotiate contracts and leases, to sell off nonprofitable assets, to restructure debt and payment obligations and to obtain new financing. A successful Chapter 11 lets the […]
Making Optimal Use of California Exemptions in Bankruptcy
When filing for bankruptcy in California, you can shield a good amount of your assets from creditors by employing exemptions provided by state or federal law. California offers two distinct exemption sets: System 1 (under California Code of Civil Procedure §704) and System 2 (under California Code of Civil Procedure §703.140). You must choose one […]
