Best Restructuring & Insolvency Lawyers in Nevada

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Greenberg Traurig, LLP.
Las Vegas, 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...
Pecos Law Group
Henderson, United States

Founded in 1990
26 people in their team
English
We Start By Listening to Your StoryYou have a story to tell. Whether your case involves family law, criminal defense, child support or any of the practice areas our full-service law firm handles, you will want to tell us how you found yourself in your current situation. We want to listen. We want...
Gordon Rees Scully Mansukhani, LLP.
Las Vegas, 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...
Howard & Howard Attorneys PLLC
Las Vegas, United States

Founded in 1869
304 people in their team
English
Howard & Howard is a full-service law firm with a national and international practice that provides legal services to businesses and business owners. The firm has offices in Royal Oak, Michigan; Illinois (Chicago and Peoria); Las Vegas, Nevada; and Beverly Hills, California. From our...
Cooper Levenson Attorneys at Law
Las Vegas, United States

Founded in 1957
75 people in their team
English
Hundreds of Years of Combined Legal ExperienceThe law firm of Cooper Levenson, P.A., established in 1957, is a full-service law firm with 75 attorneys and an extensive support staff.In New Jersey, we maintain offices in Atlantic City and Cherry Hill. We also have offices in New York, New York,...
Fennemore Craig, P.C.
Las Vegas, United States

Founded in 1885
363 people in their team
English
For 135+ years, Fennemore has provided legal counsel to help clients thrive in a complex, evolving business and legal landscape. We deliver forward-thinking advocacy to generate value for clients and help them keep pace with the rate of change by protecting legal interests and identifying...
Brownstein Hyatt Farber Schreck, LLP
Carson City, United States

Founded in 1968
707 people in their team
English
At Brownstein, “all in” isn’t just a catchy slogan or an empty claim. It’s an approach we apply to each challenge we take on. And an attitude that keeps our clients coming back, time and time again.This mentality inspires us to put everything in our arsenal to work for you. From our...
Robison, Sharp, Sullivan & Brust
Reno, United States

Founded in 1981
56 people in their team
English
Legal representation is more important than ever. We are Robison, Sharp, Sullivan & Brust, a Reno law firm with trusted attorneys. Our Reno lawyers have been providing unparalleled legal services since 1981 and pride themselves on their transactional excellence. We seek to align both our...
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About Restructuring & Insolvency Law in Nevada, United States

Restructuring and insolvency law in Nevada focuses on assisting individuals and businesses experiencing financial distress. These laws provide structured legal procedures for managing mounting debt, restructuring obligations, and, when necessary, facilitating orderly bankruptcy or liquidation. Nevada's legal framework is designed to address a variety of financial challenges through negotiation, court-supervised proceedings, and solutions that can preserve value for all parties. Whether the situation involves personal bankruptcy, business reorganization, or creditor negotiations, the goal is to provide a fair process for debt resolution according to both state and federal laws.

Why You May Need a Lawyer

There are several situations where legal advice and representation can be indispensable in restructuring and insolvency matters. If you are an individual considering bankruptcy due to overwhelming debt, a business owner facing cash flow shortages, or a creditor seeking to recover funds from an insolvent debtor, a lawyer's expertise is crucial. Common scenarios include negotiating with creditors, preparing bankruptcy filings, reorganizing business entities to continue operating, defending against debt collection lawsuits, or understanding the implications of bankruptcy on assets and contracts. An experienced attorney can evaluate your specific circumstances and guide you to the most effective legal strategy.

Local Laws Overview

In Nevada, restructuring and insolvency are governed by a combination of federal and state laws. The federal Bankruptcy Code applies to almost all bankruptcy proceedings, with cases typically filed in the United States Bankruptcy Court for the District of Nevada. Common filings include Chapter 7 (liquidation), Chapter 11 (business reorganization), and Chapter 13 (individual debt adjustment). On the state level, Nevada laws address assignments for the benefit of creditors, receiverships, and creditor rights. Nevada also has unique rules regarding the exemption of certain assets from bankruptcy, such as homesteads and retirement accounts, which can significantly affect outcomes for individuals. For businesses, state statutes and court procedures impact company reorganizations, wind-downs, and litigation with creditors.

Frequently Asked Questions

What is the difference between restructuring and insolvency?

Restructuring refers to legal and financial actions taken to modify a person or business's debt obligations, often to avoid insolvency or bankruptcy. Insolvency is a legal state where an individual or entity can no longer meet their financial obligations as they come due.

What types of bankruptcy are available in Nevada?

The most common forms are Chapter 7 (liquidation for individuals and businesses), Chapter 11 (reorganization for businesses and some individuals), and Chapter 13 (debt repayment plans for individuals with regular income).

Will filing for bankruptcy in Nevada affect all my assets?

Not necessarily. Nevada law allows exemptions for certain assets, such as a portion of home equity, retirement accounts, and personal property, though limits and rules apply. An attorney can explain what you can protect in your specific case.

Can a business still operate during insolvency or bankruptcy?

Yes, under Chapter 11 bankruptcy, a business may continue to operate while it restructures its debts under court supervision. This can allow businesses to return to profitability while resolving financial issues with creditors.

How does the bankruptcy process work in Nevada?

The process typically begins with the filing of a petition in federal bankruptcy court. From there, the debtor must provide detailed information about finances and debts, participate in hearings, and follow the court's orders regarding repayment or liquidation.

Are there alternatives to filing bankruptcy in Nevada?

Yes, alternatives may include debt negotiation, assignments for the benefit of creditors, out-of-court restructurings, and other informal arrangements. An attorney can help assess what solutions might work best based on the financial situation.

How long does bankruptcy stay on my credit report?

Bankruptcy can remain on your credit report for ten years for Chapter 7 filings and seven years for Chapter 13 filings. However, its impact diminishes over time, especially if good credit habits are established after filing.

What happens to secured debts like mortgages or car loans?

Secured debts are treated differently than unsecured debts. Depending on the bankruptcy chapter, you may be able to keep the property by reaffirming the debt, or it may be repossessed or foreclosed if payments are not maintained.

Do I need to go to court if I file for bankruptcy in Nevada?

Most bankruptcy cases require at least one court appearance, which is typically the meeting of creditors or 341 meeting. In some cases, additional court hearings may be necessary, especially in complex business bankruptcy cases.

How can a lawyer help with creditor negotiations or restructuring?

A lawyer can negotiate with creditors on your behalf, draft formal agreements, ensure compliance with all legal requirements, and develop strategies to minimize losses while maximizing available protections under state and federal law.

Additional Resources

Several resources are available for individuals and businesses seeking information or assistance with restructuring and insolvency in Nevada:

- United States Bankruptcy Court for the District of Nevada

- Nevada Bar Association

- Nevada Legal Services (provides legal aid and referrals)

- American Bankruptcy Institute

- Nevada Office of the Attorney General, Consumer Protection Division

- Small Business Administration Nevada District Office

These organizations offer educational materials, legal forms, referrals, and guidance on navigating the legal process.

Next Steps

If you are facing financial difficulties or are considering restructuring or insolvency options in Nevada, it is important to seek legal advice as soon as possible. Start by collecting all relevant financial documents and a summary of your situation. Consider scheduling a consultation with a qualified Nevada restructuring and insolvency attorney, who can analyze your case and help you understand your options. Early legal guidance can improve the range of solutions available and help protect your interests throughout the process.

Lawzana helps you find the best lawyers and law firms in Nevada 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 Nevada, 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.