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...
Gordon Rees Scully Mansukhani, LLP.
San Francisco, United States

Founded in 1974
1,688 people in their team
English
As the only law firm with offices and attorneys in all 50 states, we deliver maximum value to our clients by combining the resources of a full-service national firm with the local knowledge of a regional firm. Featuring more than 1,000 lawyers nationwide, we provide comprehensive litigation and...
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...
The Law Offices Of Edgar Lombera
Redlands, United States

English
The Law Offices of Edgar Lombera provides comprehensive legal representation across multiple practice areas throughout California, with a strong focus on personal injury, bankruptcy, criminal defense, and immigration matters. Led by attorney Edgar Lombera, the firm brings years of experience and...

English
Demidchik Law Firm, located in the City of Industry, California, offers comprehensive legal services in immigration law, criminal defense, and civil litigation. The firm's attorneys are licensed across multiple states, bringing a wealth of experience to each case. Their multilingual team,...
Geiger Law Office, P.C.
Carlsbad, United States

English
Geiger Law Office, P.C., located in Carlsbad, California, specializes in estate planning, elder law, and business planning. The firm offers comprehensive services, including the creation of trusts, wills, asset protection strategies, and business succession plans, tailored to meet the unique needs...
Cox Wootton Lerner Griffin Hansen & Poulos LLP
San Francisco, United States

Founded in 1997
24 people in their team
English
ValueOur San Francisco lawyers are experienced in handling a wide variety of cases, including complex, high-exposure, document-intensive litigation and transactions. It is in just such high-exposure, complex cases that we often are able to deliver legal expense savings to clients, since we have...

English
The Law Office of Bradley R. Corbett, Criminal Defense Attorney, is a California-based firm known for providing skilled representation across a broad spectrum of legal matters. With a strong focus on criminal defense, personal injury cases, and insurance claims, the firm leverages extensive trial...
Trevor Caudle Law Practice
San Francisco, United States

Founded in 2004
English
Trevor Caudle Law Practice, located in San Francisco, California, specializes in trademark law, offering comprehensive services to protect clients' brand identities. Since 2004, the firm has successfully prosecuted trademark applications with the United States Patent and Trademark Office (USPTO),...
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.