Best Restructuring & Insolvency Lawyers in California

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Davies & Associates, LLC
Los Angeles, United States

Founded in 2020
100 people in their team
English
Spanish
Italian
Hindi
Gujarati
Vietnamese
Restructuring & Insolvency Antitrust Litigation Commercial Litigation
Davies & Associates ("D&A") has grown to become the largest global law firm specializing in US, UK and Italian business and investment immigration together with Citizenship and Residency by Investment (together, “CBI”).  Our lawyers are regarded as the leaders in the US E2...
Banker's Hill Law Firm, A.P.C.
San Diego, United States

Founded in 1991
English
Banker’s Hill Law Firm, A.P.C. is a distinguished legal practice based in California, committed to delivering effective representation across multiple practice areas. With a strong focus on labor relations and personal injury law, the firm’s attorneys possess a wealth of experience in fighting...
Singleton Schreiber
San Diego, United States

Founded in 2021
English
Singleton Schreiber is a distinguished California-based law firm specializing in personal injury and trial advocacy. With a team of seasoned attorneys, the firm has successfully recovered over $3 billion in fire litigation cases over the past decade, demonstrating a steadfast commitment to securing...
Roxborough, Pomerance, Nye & Adreani, LLP
Woodland Hills, United States

Founded in 1996
50 people in their team
English
Just the facts-Founded in 1996, RPNA is a boutique law firm dedicated to providing businesses with a broad range of legal services. RPNA advises clients through out California with offices in Woodland Hills, Los Angeles, and Sacramento.Our attorneys are the authorities in business law-RPNA...
Resolve Law Firm, APC
Downey, United States

English
Resolve Law Firm, APC is a respected legal practice in California, recognized for its comprehensive expertise in estate planning, bankruptcy, real estate law, and an array of legal services tailored to individual and business needs. The firm's seasoned attorneys have a track record of navigating...
San Diego, United States

Founded in 1996
English
King Aminpour Car Accident Lawyer stands out as a leading law firm in California, providing comprehensive legal representation across personal injury, insurance disputes, and trial advocacy. With an extensive track record of successful verdicts and settlements, the firm’s attorneys possess deep...
Greenberg Traurig, LLP.
Los Angeles, United States

Founded in 1967
2,300 people in their team
English
Five decades ago, while at lunch in a South Florida deli, attorneys Larry J. Hoffman, Mel Greenberg, and Robert Traurig saw an opportunity to establish a new breed of law firm for South Florida; a firm that mirrored a New York style firm. In 1967, they founded the law firm Greenberg Traurig...
Newport Beach, United States

English
Joe Naz Accident Lawyers, based in Newport Beach, California, is a distinguished personal injury law firm dedicated to assisting clients in their physical, mental, and financial recovery following accidents. The firm specializes in a comprehensive range of personal injury cases, including car...

Founded in 1981
English
The Law Offices of Stanley C. Franklin, based in Sherman Oaks, California, has been dedicated to representing seriously injured individuals since 1981. With over four decades of experience, the firm has established itself as a leading plaintiff-side litigation practice in Southern California. The...
The Aguirre Law Firm, APC
Los Angeles, United States

Founded in 2010
English
The Aguirre Law Firm, APC, established in 1970, has been a cornerstone in providing immigration legal services to the California community. Founded by Arturo Aguirre and Maria Castillo-Aguirre, the firm has built a reputation for delivering honest and cost-effective solutions tailored to each...
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About Restructuring & Insolvency Law in California, United States

Restructuring and insolvency law in California focuses on helping businesses and individuals address financial distress, reorganize debts, or liquidate assets in a legally compliant manner. This area of law provides the legal framework for negotiating with creditors, restructuring liabilities, and, if necessary, pursuing bankruptcy protection. California’s legal landscape interacts with federal bankruptcy laws as well as specific state statutes, offering various avenues to protect assets, manage obligations, and recover financial stability. Whether you are a business owner facing cash flow problems or an individual overwhelmed by debt, understanding your rights and responsibilities under these laws is critical for making informed decisions.

Why You May Need a Lawyer

The complexities surrounding restructuring and insolvency can be overwhelming. You may need a lawyer’s expertise in several situations, such as:

  • Assisting with out-of-court debt negotiations with creditors
  • Navigating business reorganization options, such as Chapter 11 bankruptcy
  • Filing for personal bankruptcy, including Chapters 7 or 13
  • Defending against foreclosure, liens, or creditor lawsuits
  • Understanding potential liabilities in dissolving or selling a distressed company
  • Complying with California-specific laws regarding assignments for the benefit of creditors or receiverships
  • Protecting exempt assets under California law
  • Ensuring all procedural requirements are met and your rights are protected throughout the process

A lawyer can help clarify your options, protect your interests, and guide you toward the most favorable resolution.

Local Laws Overview

Although most bankruptcy proceedings are governed by federal law, California has several state-specific laws and regulations that impact restructuring and insolvency. Some of the key aspects include:

  • Exemption Laws: California allows debtors to choose between two sets of exemptions that determine which assets can be protected from creditors during bankruptcy.
  • Assignments for the Benefit of Creditors (ABC): A state-specific alternative to bankruptcy, allowing businesses to transfer assets to a third party who liquidates them for the benefit of creditors.
  • Foreclosure Laws: California follows a non-judicial foreclosure process, which is significantly faster and can affect individuals and businesses facing mortgage default.
  • Community Property Rules: Married individuals may encounter unique challenges due to California’s community property law, which can make both spouses’ assets available to creditors under certain circumstances.
  • Receiverships: Local courts can appoint receivers to manage or liquidate assets, especially in business disputes or real estate matters.
  • Fraudulent Transfer Statutes: California law prohibits the transfer of assets meant to hinder, delay, or defraud creditors, with specific look-back periods and penalties.

Understanding both the interplay of federal bankruptcy provisions and these California-specific laws is crucial when facing insolvency matters in the state.

Frequently Asked Questions

What is the difference between bankruptcy and restructuring?

Bankruptcy is a legal process (usually under federal law) for resolving debts when you cannot pay them, often involving liquidation or court-approved repayment plans. Restructuring is a broader concept and can include out-of-court negotiations, reorganizing operations or finances, or even selling assets to avoid or minimize bankruptcy’s impact.

Which bankruptcy chapters are most common in California?

For individuals, Chapter 7 (liquidation) and Chapter 13 (wage earner’s plan) are most common. For businesses, Chapter 7 (liquidation) and Chapter 11 (reorganization) are the primary options.

How do California’s exemption laws work?

When filing for bankruptcy in California, you must choose between two exemption “systems” (System 1 or System 2), each safeguarding different types and amounts of property. These exemptions determine what assets you can keep during and after bankruptcy.

Can I avoid foreclosure in California through bankruptcy?

Bankruptcy can provide temporary relief by stopping foreclosure proceedings with an automatic stay. Chapter 13, in particular, allows individuals to catch up on mortgage payments through a court-approved repayment plan.

What is an Assignment for the Benefit of Creditors (ABC)?

An ABC is a California state-law process where a financially troubled business voluntarily transfers its assets to a trustee who liquidates them for creditors without going through the court-supervised bankruptcy process.

Will all my debts be erased if I file for bankruptcy?

Not all debts can be discharged in bankruptcy. Common exclusions include recent taxes, student loans (with rare exceptions), child support, and certain judgments. Your lawyer can clarify which debts are eligible for discharge.

What happens to my spouse’s assets if I file for bankruptcy in California?

Because California is a community property state, your spouse’s assets might be considered in both bankruptcy and creditor actions, even if only you file. Legal advice is vital for understanding joint and separate liabilities.

Are there alternatives to bankruptcy in California?

Yes. Alternatives include debt negotiation, debt consolidation, assignments for the benefit of creditors, and private workouts with lenders. Each has pros and cons depending on your circumstances.

How long does a bankruptcy stay on my credit report in California?

A Chapter 7 bankruptcy typically remains on your credit report for up to 10 years, while a Chapter 13 bankruptcy remains for up to 7 years. This is the same across all U.S. states.

Do I need a lawyer to file for bankruptcy in California?

While you are not legally required to hire a lawyer, bankruptcy and insolvency laws can be complex, especially with California-specific issues. Hiring an experienced attorney can help maximize outcomes, minimize mistakes, and provide invaluable peace of mind.

Additional Resources

Several organizations and agencies support individuals and businesses grappling with restructuring and insolvency in California, including:

  • United States Bankruptcy Court for the Central, Northern, Eastern, and Southern Districts of California
  • California Department of Justice, Attorney General’s Office
  • California Bar Association - Lawyer Referral Service
  • Legal Aid Foundation of Los Angeles and other local legal aid societies
  • The American Bankruptcy Institute
  • U.S. Trustee Program (federal oversight of bankruptcy cases)
  • Local chambers of commerce and business advisory services

Next Steps

If you are facing financial difficulties or insolvency in California, consider the following steps:

  1. Assess your current financial situation and gather all relevant financial documents.
  2. Determine if you need business or individual advice, as the legal processes and implications can be different.
  3. Schedule a consultation with an experienced California restructuring and insolvency attorney who can assess your specific needs and explain your options.
  4. Prepare questions regarding debt relief, asset protection, timelines, and potential outcomes to ensure you get the most from your legal consultation.
  5. Explore available state and local resources for additional support and information.
  6. Follow your attorney’s guidance closely to avoid missteps and protect your legal and financial interests.

Taking proactive steps and seeking qualified legal advice early can improve your financial outlook and lead to more positive results in the restructuring and insolvency process.

Lawzana helps you find the best lawyers and law firms in California through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in California, United States - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.