Chapter 11 Bankruptcy Attorney in Los Angeles
Managing financial challenges can be daunting for any business, but when facing serious obstacles, Chapter 11 bankruptcy might be a viable pathway for restructuring and stability. At RHM LAW LLP, based in Los Angeles, our goal is to guide you through the complexities of Chapter 11 bankruptcy with professionalism and empathy. With over 20 years of experience, our team of bankruptcy attorneys is committed to positioning businesses for financial recovery and renewed success.
Don't hesitate—reach out to an experienced Chapter 11 bankruptcy lawyer now. Call (213) 344-0043 or complete an online form to take the next step. Our services are available in English, Spanish and Farsi.
Chapter 11 Bankruptcy: A Comprehensive Guide
Chapter 11 bankruptcy, often referred to as a “reorganization bankruptcy,” allows businesses to restructure their debts while continuing operations. This can be especially beneficial for companies that are fundamentally viable but need a legal framework to adjust obligations, reinvest in growth, and avoid liquidation.
Delving Deeper into Reorganization Plans: In crafting a reorganization plan, businesses detail their proposed strategy for repaying their debt over a specified period. A successful plan typically involves negotiations with creditors agreeing on reduced payments or extended terms. This collaborative process is crucial to gaining the necessary court approval, and it often requires strategic adjustments that align with both business operations and creditor expectations.
Key Aspects of Chapter 11 Bankruptcy Include:
- Debtor in Possession: The business typically remains in control, continuing operations and managing assets while restructuring debt.
- Automatic Stay: An automatic stay halts most collection actions, providing breathing room to reorganize.
- Reorganization Plan: A plan is developed to repay creditors over time, often involving negotiated settlements.
For Los Angeles businesses, engaging with an experienced Chapter 11 bankruptcy lawyer is vital for navigating this complex process effectively, ensuring compliance with local and federal laws while pursuing the best strategy for your business’s future.
Why Choose RHM LAW LLP: Experience & Accessibility
RHM LAW LLP stands out for our depth of experience and commitment to accessibility. Over the past two decades, we have handled more than 7,500 bankruptcy filings, including numerous Chapter 11 cases. Our clients appreciate our comprehensive approach and empathetic guidance, factors that directly contribute to successful outcomes.
- Extensive Experience with Local Businesses: Understanding the unique economic environment of Los Angeles, we tailor our approaches to fit the specific needs of local businesses. This includes acknowledging industry fluctuations and regional economic influences that may affect recovery strategies.
- Accessibility: We offer consultations in English, Spanish, and Farsi, ensuring a broad client base can benefit from our services. Our flexible scheduling includes same-day and video consultations, demonstrating our dedication to convenience and client satisfaction.
Choosing us means gaining a partner deeply invested in your business’s recovery and prosperity, a distinction that continues to make us a preferred choice for many Los Angeles companies. Connect with an experienced Chapter 11 bankruptcy attorney as soon as possible
Localized Insight: Chapter 11 in Los Angeles
Los Angeles, with its vibrant economy and diverse industries, presents unique challenges for businesses considering Chapter 11 bankruptcy. Regional economic trends can significantly impact the bankruptcy process and outcomes.
Economic fluctuations particularly impact businesses in sectors such as entertainment, real estate, and technology in Los Angeles. An understanding of these dynamics is essential for designing a reorganization plan that reflects both current market conditions and future optimism.
Key Local Considerations:
- Industry Trends: Local economic shifts, such as in the entertainment or technology sectors, can affect business viability and recovery strategy.
- Court Procedures: Familiarity with local court procedures is crucial for an efficient bankruptcy process, helping avoid unnecessary delays and complications.
Our firm’s longstanding presence in the Los Angeles area affords us the local insight needed to navigate these specific factors effectively.
Our qualified Chapter 11 bankruptcy lawyer in Los Angeles is here to assist you. Call (213) 344-0043 or use our online form to schedule your free 30-minute consultation.
Frequently Asked Questions About Chapter 11 Bankruptcy
What Is the Timeline for a Chapter 11 Bankruptcy?
The timeline for a Chapter 11 bankruptcy case can vary significantly based on the complexity of the case and the company’s specific situation. Generally, the process involves preparing and filing a petition, developing a reorganization plan, and gaining court approval, known as confirmation. This can take several months to years. In the Los Angeles jurisdiction, the court's calendar and the business’s readiness to meet creditor obligations can extend or shorten this timeframe. Working closely with a seasoned Chapter 11 bankruptcy attorney from RHM LAW LLP can help streamline the process through proactive management and adherence to local court schedules.
How Does Chapter 11 Affect Current Contracts & Leases?
Under Chapter 11, businesses have the opportunity to assume or reject existing contracts and leases. This flexibility allows companies to renegotiate terms more favorable to their restructured financial situation. In cases where renegotiation isn’t practical, businesses may reject contracts, minimizing liabilities. Los Angeles businesses must consult with an attorney to navigate these decisions and ensure compliance with local and federal bankruptcy rules. This power to discard or renegotiate can significantly lighten a company's financial obligations, providing the necessary leverage to reorient the business plan toward profitability.
Can Chapter 11 Protect My Los Angeles Business From Creditors?
Yes, Chapter 11 bankruptcy provides an automatic stay, which immediately stops most collection actions against the business. This critical protection allows companies time to reorganize without the pressure of aggressive collection activities. The automatic stay covers actions like eviction, foreclosure, and even utility disconnections, ensuring a business remains operational during critical restructuring periods. Our team at RHM LAW LLP works diligently to uphold these protections, ensuring your business focuses on recovery without outside interference. Reach to a Chapter 11 bankruptcy attorney in Los Angeles at our firm right away.
What Qualifies a Business for Chapter 11 Bankruptcy?
Both corporations and small businesses can qualify for Chapter 11 bankruptcy. While no specific dollar thresholds exist, the business must show the ability to eventually service its debts through a reorganization plan. The business must demonstrate a strategy that not only addresses existing debt but also stabilizes revenue streams. In Los Angeles, engaging with knowledgeable legal support is crucial to determine eligibility and prepare a robust petition demonstrating a clear path to recovery, tailored to the local economic landscape.
What Should I Expect During the Chapter 11 Process?
Expect a rigorous process involving the detailed reorganization of finances and operations. It includes formulating a reorganization plan, negotiating with creditors, and complying with court mandates. In addition, regular reports detailing the company’s financial performance and adherence to the court-approved plan will be required, facilitating transparency and fostering creditor confidence. The success of Chapter 11 in Los Angeles often hinges on professional guidance from experienced Chapter 11 bankruptcy lawyers like those at RHM LAW LLP, who provide comprehensive support through each phase, from filing to plan confirmation.
Take the Next Step Toward Financial Recovery
Facing financial distress can be overwhelming, but exploring Chapter 11 bankruptcy with RHM LAW LLP offers a proactive path to restructuring and revitalization. Our experienced team stands ready to provide the support and strategic counsel needed to guide your business through this challenging process.
We understand that embarking on the Chapter 11 process is a significant decision that can drive the long-term trajectory of your business. Our approach is rooted in deep legal knowledge, a commitment to personalized service, and a focus on achieving a sustainable financial future for your company. Contact us at (213) 344-0043 to schedule a 30-minute risk-free consultation with our Chapter 11 bankruptcy attorneys. Together, we can navigate the complexities of Chapter 11 bankruptcy and set your business on a course toward a healthy financial future. Don’t wait for crises to dictate your actions—transform your business trajectory with informed decisions and expert guidance.
For experienced guidance, turn to a skilled Chapter 11 bankruptcy attorney at RHM LAW LLP. Contact us or call (213) 344-0043 to secure a consultation.
RHM LAW LLP
Meet Our Los Angeles Bankruptcy Specialists
-
M. Jonathan Hayes Senior Counsel -
Matt D. Resnik | Managing Partner Certified Bankruptcy Specialist
-
Roksana D. Moradi-Brovia | Partner Certified Bankruptcy Specialist
-
W. Sloan Youkstetter | Associate Attorney Certified Bankruptcy Specialist
-
Russell J. Stong III | Associate Attorney Certified Bankruptcy Specialist
-
David M. Kritzer Associate Attorney
Client Reviews
What Clients Say About Working With Us
Serving Encino, CA Since 2018
-
"We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service."
Dear Mr. Resnik: We wanted to thank you for your professional handling of our loan modification with GMAC mortgage. We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service.
- W and B Mejia -
"He made me feel like I had options, all was not lost, and I could rebuild my credit."Matt is the best bankruptcy attorney in Sherman Oaks. I consulted with Matt over a chapter 7 bankruptcy. I had issues with overwhelming credit card debt after Chase increased it's APR for no reason. It set off a chain of events that were really hurting me. He made me feel like I had options, all was not lost, and I could rebuild my credit after the 7. I had some concerns about a piece of property I was having issues with and Matt also turned out to be a real estate lawyer as well! I recommend this office to anyone who is unsure of their financial situation. It doesn't hurt to find out your options.- Max B.
-
"Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding."
Thank you for your great work on behalf of Ms. Johnson. Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.
- Skip K. -
"Matt and his staff conducted themselves with professionalism throughout the whole ordeal."I worked with Matt and his team for about a year to get through the paperwork shuffle and my personal experience was nothing short of fantastic. Legal situations have a tendency to get hairy, but Matt and his staff conducted themselves with professionalism throughout the whole ordeal. To keep it short, let's just say he under-promised and over-delivered. Rarely would I ever say this about an attorney, but overall he was just a great guy. I would not hesitate to have him on my side of the courtroom again. World market is right across the street from his office and I even decided to get his staff a thank you / holiday gift card. World market has excellent craft beer BTW, try the Einstock White Ale. They also validate parking. That just shows this isn't a fake review.- Dean C.
-
"They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life."Matt and his team are the best!! They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life. I never felt judged or looked down on. They were efficient and really were lifesavers during this tough time. I can not recommend them highly enough!!!!- Rusty H.
-
"He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own."I worked with David Kritzer at this firm, and he was great. He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own thanks to his knowledge and expertise in the field. If you have a debtor on your back go to him to get it taken care of.- Kelly S.
-
"These are top-notch pros that'll have your back. I cannot recommend them highly enough."Where to begin? I had a vile evil credit union repo my car over a misunderstanding, they wouldn't work with me even when I offered full payment plus repo fees (this was my first repo!) so I didn't know what to do. I met with a few lawyers but when I met with Simon he broke things down and gave me my options. I needed a car - so I filed BK and included the car to get it back. The evil credit union fought and Simon GOT ME MY CAR BACK!!! His team is amazing!!!! Maria Donna etc!!! These are top-notch pros that'll have your back. I cannot recommend them highly enough. Sincerely they saved my life. LA with no car!? ARGH!!!!!! *THANX ALL!!!!- Tim C.
-
"As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others."This is to thank you for the exceptional work of you and your fine staff. In managing my bankruptcy and loan modification, a nearly five-year effort, your performance was stellar. I never felt alone or adrift, key concerns in those circumstances. The outcome was outstanding. As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others. Without hyperbole, I can attest that you are present a beacon. Thank you so much.- K.C.
-
"I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate."I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate. I also met with their loan modification department. Unfortunately, they were unable to help because of the type of loan that I have. I really appreciated that they did not lie, waste my time, or take my money in an attempt to modify a loan that was not doable. I've since used their firm for a couple of minor issues and found all of the attorneys to be knowledgeable and considerate. Attorneys Simon and Resnik are amazing!- Shannon J.
-
A Summary of Bankruptcy Law: Third Edition
-
Summary of Chapter 13
