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Los Angeles Bankruptcy Lawyer

Bankruptcy, Reorganization & Capital Recovery

The Los Angeles bankruptcy attorneys at Greenberg Glusker shape the bankruptcy solution to fit each client’s problem. Their bankruptcy counsel ranges from early-stage evaluations and pre-petition planning to out-of-court reorganizations, Chapter 11 bankruptcy reorganizations and where appropriate Chapter 7 liquidations. The firm represents the many parties involved in bankruptcy reorganization and liquidation bankruptcies, such as:

  • Bankruptcy Reorganization
  • Debtors and Creditors
  • Equity Holders
  • Creditors' Committees
  • Secured Creditors
  • Purchasers and Sellers of distressed assets
  • Indenture Trustees

Experienced Los Angeles Bankruptcy Attorney

On the Debtor Side:

The firm’s bankruptcy practice emphasis is in representing distressed Southern California middle-market companies and transitioning “failed’’ businesses into operating enterprises. The firm works to preserve value for clients and set them on the path back to financial health. For purchaser’s of distressed assets, the Los Angeles bankruptcy attorneys at Greenberg Glusker have extensive experience in assisting buyers purchasing distressed commercial real estate property assets, entertainment company assets, and other operating businesses. The firm assists creditor clients in drafting loan agreements, protecting their rights in collateral, including perfection of security interests and addressing complicated intercreditor issues such as subordination and marshalling of assets.  the firm also represents these parties in recovering their assets whether by way of writ of attachment proceedings, and relief from stay, contested plans and others bankruptcy proceedings.

Offering a Full-Service Alternative in Bankruptcy and Restructuring

As a full-service, midsize law firm, Greenberg Glusker provides an accessible alternative to bankruptcy groups within larger national law firms and standalone bankruptcy boutique firms. Related issues in employment, real estate, finance, corporate law and bankruptcy litigation often arise in reorganization and Los Angeles Chapter 11 bankruptcy matters. The Los Angeles bankruptcy attorney counselors at Greenberg Glusker regularly collaborate with other practitioners in the firm to address these areas and provide clients with prompt, complete and efficient representation.

Customizing Value-Driven Bankruptcy Solutions

When customizing the right solution, Greenberg Glusker explores practical and novel approaches. In some cases, a Chapter 11 bankruptcy, is not always the best option. The Los Angeles bankruptcy lawyers at the firm may advise working with other professionals, such as accountants and turnaround specialists, to evaluate and implement alternatives short of bankruptcy, including assignments for the benefit of creditors, renegotiation of loans and covenants, and other methods to improve operations.

Greenberg Glusker has Los Angeles bankruptcy attorney counselors develop legal solutions that enhance and preserve value for clients. This approach takes into account the business, strategic practical and legal concerns facing the company and client.

Trusted Los Angeles Bankruptcy Firm

The firm's bankruptcy and reorganization background includes:

  • Debt restructuring, loan workouts, bankruptcy reorganization and competing plans of reorganization
  • Debtor-in-possession financing and cash collateral agreements
  • Secured and unsecured creditors
  • Committees - creditors, equity security holders and bondholders
  • Lenders with defaulted loans
  • Indenture trustees
  • Preference and fraudulent conveyance actions, non-dischargeability actions
  • Liquidations
  • Buyers of assets from bankruptcy
  • Involuntary bankruptcy petitions
  • Executory contracts, leases and intellectual property rights in bankruptcy
  • Foreign representatives in ancillary proceedings

Key Strategies:

Corporate Bankruptcy Reorganization

  • Evaluate alternatives and assist in prepetition planning
  • Assist in arranging debtor in possession financing
  • Coordinate with management, consultants and turn-around specialists

Bankruptcy Workouts

  • Evaluate, negotiate, implement and supervise out-of-court workouts
  • Renegotiate bank loans and covenants, revise debt instruments, and structure payment plans with trade vendors
  • Assist in locating new capital
  • Coordinate with management consultants and turnaround and crisis management specialists in the restructuring and "right-sizing" of a client's business

Assignment for the Benefit of Creditors

  • Represent both debtor/assignor companies and purchasers of assets from assignees
  • Formulate, negotiate, and implement out-of-court assignments for the benefit of creditors
  • Structure sales to third parties as part of assignments

Debtors' Counsel

  • Represented Rhythm & Hues, a visual effects company, in connection with Chapter 11 filing and sale of assets
  • Represented Imaging3, Inc., a publicly traded company, in connection with its Chapter 11 filing and successful confirmation of a plan of reorganization
  • Provide reorganization counsel to the owners of Gardena Hospital
  • Acted as counsel to majority  shareholder of Currie Technologies in its Chapter 11 reorganization
  • Represented Cisco Brother in a confirmed plan of reorganization
  • Advised and counseled CEO of Contessa in connection with the sale of the company’s assets under Section 363 of the Bankruptcy Code

Creditor Counsel

  • Represented The Home Depot in several Chapter 11 matters including the purchase of leasehold interest in the Chapter 11 of House2Home and in resolution claims against Breton Construction Company.
  • Served as creditors’ committee counsel in the chapter 11 filings  of The Leather Factory and Academy films, which entailed the sale of a film library
  • Advise and counsel entertainment industry clients in recovering monies invested in the Bernard Madoff Ponzi scheme
  • Served as counsel to Cheesecake Factory as creditor and reclamation claimant in the Ameriserve and Empire Beef bankruptcies
  • Represented Allied Advertising Limited Partnership in a contested involuntary bankruptcy petition against judgment debtor Thinkfilm, LLC
  • Provide ongoing representation of Roland Corporation, one of the largest manufacturers and distributors of musical instruments, in structuring all of Roland’s credit and security transactions with retail dealers and financing companies
  • Served as counselor to Roland Corporation, a junior secured creditor in the Mars Music bankruptcy, securing a significant recovery from the bankruptcy estate and senior lender after commencing litigation to require the senior lender to marshal assets for the benefit of Roland
  • Represented World Communications Group Services, Ltd. in the defense of a bankruptcy preference action
  • Acted on behalf of Auto Wax Co., a manufacturer of car care products, as petitioning creditor in a contested involuntary bankruptcy against judgment debtor Mark V Products, defeating a motion to dismiss the involuntary petition
  • Counsel Avalon Risk Management, a broker of United States customs bonds, in bankruptcy proceedings filed by importers utilizing customs bonds
  • Represented Convergenz, a personnel staffing company, in the bankruptcy of Axium Corporation
  • Represented PacifiCare of California as the single largest creditor in multiple hospital and healthcare provider bankruptcies

Trustee Counsel

  • Counsel to Signal Walnut Partnership L.P., and another first trust deed holder in the chapter 11 bankruptcy cases of Orange Grove Service, Inc. and Ocean Hills
  • Represented the court-appointed liquidator’s U.S. interests in an international insolvency proceeding based out of the Commonwealth of Dominica in which the debtor entity is a corporation responsible for an illegal “Ponzi” scheme which defrauded investors of more than $50 million
  • In re Halaco Engineering Co., represent David Seror, Chapter 7 Trustee.  Assisted trustee in liquidation of recycling firm, including sales of assets, litigation, and work with USEPA and state regulators on allegations of environmental contamination
  • In re Apex Digital, Inc., represented Rosendo Gonzalez, Examiner.  Assisted Examiner appointed in chapter 11 bankruptcy case of electronics distributor.
  • In re Calsafe Transportation, Inc., representing Diane C. Weil, Chapter 7 Trustee.  Assisted trustee with liquidating of assets and litigation involving transportation company.
  • Alameda Liquidating Trust, represented Liquidating Trust in litigation and sales of joint venture interests and properties located in the western United States.
  • In re BH Development, LLC, represented Rosendo Gonzalez, Chapter 7 Trustee.  Assisted trustee with evaluation, sale of assets and liquidating of internet gaming company.
  • In re Ben-Wal Leasing Company, represent Dennis Murphy, Receiver.  Represented receiver appointed by SEC in federal district court with respect to Ponzi scheme.
  • In re BH Development, LLC, represented chapter 7 trustee of estate of bankruptcy internet gaming company
  • In re Alameda Investments, LLC, represented liquidating trustee of land bank entity for one of largest privately held home builders in country

Los Angeles Bankruptcy Litigation Counsel

  • Represented Cessna Finance Corporation in litigation with borrowers in default and as a creditor in bankruptcy proceedings of borrowers
  • Advise and counsel numerous clients in bankruptcy court adversary proceedings including preference and fraudulent transfer litigation
  • Achieved a favorable settlement for the City of Culver City in a contested claim for unpaid taxes against Chapter 11 debtor Urban Hotels

Purchase and Sale of Distressed Assets

  • Represented purchaser of assets from THQ in bankruptcy
  • Represented Regency Park Senior Living in its successful acquisition out of bankruptcy of a senior assisted living facility in Pasadena, California
  • Guided Rigor Mortis in a Chapter 11 reorganization and sale of assets of film library
  • Counseled Mar Vista Holdings in the sale of assets through an assignment for benefit of creditors

Greenberg Glusker attorneys practicing in the area of Bankruptcy Law: