Seasoned litigators and experienced negotiators, FLP Law Group LLP is a business law firm that also serves in Torrance CA, helping entrepreneurs and businesses confront their legal challenges head-on in a cost-effective way. The firm has received the highest possible rating of “AV” for both quality and integrity from the authoritative Martindale Hubbell listing of law firms and attorneys. Our bankruptcy attorneys in Torrance, each have over 30 years of experience, with special expertise in business and individual Chapter 11 and Chapter 7 bankruptcy cases and related litigation, breach of contract and fraud litigation, creditors’ rights and collection matters, commercial real estate transactions and litigation matters, and corporate governance and finance.
CORPORATE RESTRUCTURING ATTORNEY NEAR YOU IN TORRANCE
If you find yourself facing financial challenges and considering bankruptcy as a solution, FLP Law Firm is the ideal choice for expert legal support. With our extensive expertise in Chapter 7 and Chapter 11 business bankruptcy cases, we deliver exceptional legal services to our clients. Our team of experienced bankruptcy attorneys possesses the necessary knowledge and skills to guide you through the bankruptcy process and find the best resolution for your unique financial circumstances.
Our primary goal is to help you achieve a fresh start financially. After carefully evaluating your case within the scope of bankruptcy law in Los Angeles, California, our attorneys will provide personalized recommendations for the most suitable course of action based on your specific circumstances. You can trust our attorneys to offer compassionate and individualized legal representation throughout the bankruptcy proceedings, always prioritizing the protection of your rights and interests.
At FLP Law Firm, we are dedicated to providing exceptional legal services, leveraging our extensive experience and unwavering commitment. If you’re seeking effective debt relief options for your business in Torrance, our team is prepared to assist you. Contact us today to schedule a complimentary consultation with our business bankruptcy attorney and take the first step towards a brighter financial future.
Chapter 7 bankruptcy is a type of bankruptcy that allows you to discharge most of your unsecured debts, such as credit card debts, medical bills, and personal loans. This type of bankruptcy is often the best choice for those who have little to no assets and a low income.
Chapter 11 bankruptcy, on the other hand, is a type of bankruptcy that is typically used by businesses or individuals with high levels of debt. This type of bankruptcy allows you to restructure your debts and create a repayment plan that is more manageable and realistic.
Insolvency and Loan Workouts:
We Represent debtors and creditors in individual or entity insolvency issues, including troubled businesses or real estate investments. We collaborate with out clients to stategize, negotiate and implement workouts, forbearance agreements, loan modifications and note or asset sales. Where appropriate our services include loan forbearance agreements, reorganization or the orderly liquidation of various types of assets.
We represent Debtors in regular Chapter 11 cases or Small Business Reorganization Act (“SBRA”) subchapter V Chapter 11 cases. SBRA is available to those who have 50% or more in business debt and no more than $7,500,000 in liquidated debt and is generally much less expensive than a normal Chapter 11 case as there are no U.S. Trustee’s quarterly fees and no need to file a disclosure statement. In a SBRA case, a trustee is appointed to, among other things, facilitate a plan between the debtor and creditors which could be a reorganization or a liquidating plan. We also represent entities in Chapter 7 liquidations.
Our Chapter 11 debtor services include all aspects of representation from filing the petition and a disclosure statement and plan to obtaining plan confirmation. We also file any necessary applications and motions in the bankruptcy case such as applications to retain professionals for the estate, removing lawsuits to the bankruptcy court, disclosure statements, proposed plans, or any type of motion needed to advance the case toward plan confirmation.
Our creditor representation focuses on protecting a creditor’s lien rights and includes, but is not limited to objecting to: (i) motions to use cash collateral, (ii) critical vendor motions, (iii) Notices of Insider Compensation, (iv) motions to determine value of security, (v) disclosure statements, (vi) chapter 11 plans, and (vii) fee applications. We also defend creditors from any adversary actions for preferences, avoidable transfers, or to determine the validity, priority, and extent of a lien.
We represent debtors seeking to discharge some or all of their debts in Chapter 7. We also defend defendants in adversary proceedings for denial of discharge under 11 U.S.C. §§ 523(a) and 727(a) and any contested matter to be heard in the Bankruptcy Court such as motions for relief from stay or an objection to a claim of exemption.
We represent Debtors in regular Chapter 11 cases or Small Business Reorganization Act (“SBRA”) subchapter V Chapter 11 cases. SBRA is available to those who have 50% or more in business debt and no more than $7,500,000 in liquidated debt and is generally much less expensive than a normal Chapter 11 case as there are no U.S. Trustee’s quarterly fees and no need to file a disclosure statement. In a SBRA case, a trustee is appointed to, among other things, facilitate a plan between the debtor and creditors which could be a reorganization or a liquidating plan.
We represent creditors in all aspects of an individual Chapter 7 case such as filing a proof of claim, defending an objection to a proof of claim, motions for relief from stay, objections to a debtor’s claim of exemption, etc. We also defend creditors from lawsuits filed by Chapter 7 Trustees such as preference actions under 11 U.S.C. § 547 or voidable transfer actions under the Bankruptcy Code or state law.
We also represent Chapter 7 Trustees as counsel for the bankruptcy estate to handle all general matters such as motions to sell the property of the estate, objections to proofs of claim, objections to claims of exemptions, and turnover motions. We also represent Trustees as special counsel by filing adversary matters to recover particular assets for the estate as preferences or voidable transfers.
On behalf of debtors we prosecute or defend the seemingly limitless types of applications and motions that can be filed in a bankruptcy such as motions: (i) for relief from stay (ii) to dismiss or convert the case to a different chapter, (iii) to object to a claim of exemption, (iv) to sell property of the estate, (v) to have the court approve a compromise of a controversy, (vi) to avoid judgment liens, and (vii) to seek a final decree.
Likewise, on behalf of creditors we defend or prosecute Motions to: (i) use cash collateral, (ii) perform bankruptcy Rule 2004 examinations, (iii) seek a turnover orders, (iv) pay critical vendors, (v) use of cash collateral, (vi) subordinate a claim, (vii) to value security and (Viii) many, many others.
We also represent debtors, creditors, trustees, and third parties in special or unique bankruptcy proceedings such as Orders to Show Cause, sanction motions, evidentiary hearings, purchasing assets out of a bankruptcy case, and other unusual motions.
Bankruptcy Adversary Matters:
We defend debtors in adversary proceedings for the denial of a particular debt under (i) 11 U.S.C. § 523(a)(2)(A) (fraud), (ii) § 523(a)(4) (breach of fiduciary duty or embezzlement), (iii) § 523(a)6) (willful and malicious injury), and (iv) for denial of discharge under 11 U.S.C. § 727(a). Frequently, we can also remove a state court lawsuit to the bankruptcy court so that it is heard by the bankruptcy judge that is hearing the debtor’s case which could result in an advantage for the debtor.
We also defend creditor defendants from the debtor and trustee preference actions under 11 U.S.C. § 547(a), voidable transfer actions under 11 U.S.C. § 548, determination of secured status, and the determination of the validity, priority, and extent of liens, among other types of adversary proceedings.
Likewise, we prosecute adversary matters on behalf of debtors and trustees for preference actions under 11 U.S.C. § 547(a), voidable transfer actions under 11 U.S.C. § 548, determination of secured status, and the determination of the validity, priority, and extent of liens, and many other types of adversary proceedings.
We represent debtors, creditors, trustees and third parties in bankruptcy appeals to the 9th Circuit Court of Appeals Bankruptcy Appellate Panel, or to the United States District Court for the Central District of California. We can prosecute or defend any appeal. Should either the appellant or appellee be unsatisfied with the outcome at the Bankruptcy Appellate Panel or the U.S. District Court, we can then represent the client in a further appeal to the 9th Circuit Court of Appeals.
We are also active in state and federal court in defending debtors and prosecuting creditor rights on notes, invoices and guarantees (or whenever a creditor is owed money), and defending or enforcing Judgments. These actions include post-judgment enforcement and if necessary voidable transfer actions to recover debtor property improperly transferred to a third party. Frequently, we obtain writs of attachment so the client can have a pre-judgment lien against the debtor’s personal and real property.
We also defend debtors in the collection, alter ego and guarantee actions and represent creditors in the same. We further prosecute and defend limited liability and corporate shareholder disputes.
We advise and help small and mid-sized businesses on pre-incorporation planning, corporate formation, including recommending the best corporate entity to accomplish your objectives, share issuance, corporate compliance and securities law issues.
We represent small and mid-sized businesses and individuals in transactions such as lease agreements and contracts to help our clients create strong agreements to protect their interests.
We represent small and mid-sized businesses and individuals in the acquisition and sale and financing of a variety of real estate assets, including retail centers, office buildings, multi-family developments and other commercial properties. Our firm is also adept at resolving liens and other title problems.
WHY HIRE TORRANCE BUSINESS BANKRUPTCY LAWYERS?
Located in Los Angeles, California, FLP Law Group is a highly regarded bankruptcy law firm specializing in assisting businesses in Torrance seeking bankruptcy relief. Our team of experienced bankruptcy attorneys is well-versed in the intricate nature of business bankruptcy and is committed to guiding our clients through the process with assurance.
We recognize that grappling with financial difficulties can be an overwhelming ordeal for business owners. That’s why we are here to provide assistance. With a profound comprehension of bankruptcy laws in Torrance, California, our experienced bankruptcy attorneys will accompany you every step of the way, encompassing bankruptcy filing, debt restructuring, and negotiations with creditors.
We comprehend that each financially troubled business possesses distinct circumstances and legal requirements. Our objective is to offer personalized attention to our clients and devise strategies that facilitate a fresh start. By closely collaborating with our clients, we gain a comprehensive understanding of their specific situations and aspirations. Subsequently, we strive to tailor our legal solutions to best suit their unique needs within the bounds of the relevant bankruptcy laws.
Get Legal Assistance From Small Business Bankruptcy Attorneys in Torrance by contacting us.
TORRANCE BUSINESS BANKRUPTCY FAQS
Do I Need an Attorney?
While it is possible to file for bankruptcy on your own, having an attorney on your side can greatly benefit you. Bankruptcy can be a complex process, and an experienced attorney can help you navigate through it with ease.
Firstly, a lawyer can review your situation and advise you on which type of bankruptcy to file, or whether debt settlement is a better option. They can help you understand the pros and cons of each option and assist you in making an informed decision.
Furthermore, an attorney can assist you in filling out the necessary bankruptcy forms and paperwork, ensuring that everything is accurate and complete. Mistakes in the paperwork can lead to delays or even the dismissal of your bankruptcy case.
An attorney can also protect you from creditor harassment. Once you file for bankruptcy, creditors are legally required to stop all collection efforts, including phone calls and letters. If they continue to harass you, our attorneys can help you take legal action to stop them and enforce your rights under bankruptcy law.
What is the Difference Between Chapter 7 and Chapter 11?
Chapter 7 and Chapter 11 are both chapters of the United States Bankruptcy Code that provide different options for individuals and businesses facing financial difficulties. The main difference between these two chapters is the purpose they serve and the type of bankruptcy they entail.
Chapter 7 Bankruptcy, also known as liquidation bankruptcy, is designed for individuals or businesses that have little or no income and cannot afford to repay their debts. In this process, a trustee is appointed to liquidate the debtor’s non-exempt assets to repay creditors. Chapter 7 bankruptcy generally lasts 3-6 months and once the process is complete, most of the debtor’s debts are discharged, meaning they are no longer responsible for them.
Chapter 11 Bankruptcy, also known as reorganization bankruptcy, is designed for businesses that want to continue operating while restructuring their debt. This process allows businesses to develop a plan to repay their debts over time while continuing to operate their business. In this type of bankruptcy, the debtor retains control of their business and develops a plan to repay their debts over a period of time, typically several years.
In summary, Chapter 7 is intended for individuals or businesses with little or no income and who cannot afford to repay their debts, while Chapter 11 is intended for businesses who want to continue operating while reorganizing their debt.
Should I File for Bankruptcy?
The decision to file for bankruptcy is a serious one that should be carefully considered based on your individual circumstances. If you are struggling with overwhelming debt and unable to pay your bills, bankruptcy may be an option worth exploring.
Bankruptcy is a legal process that can help you eliminate or reduce your debt and get a fresh start financially. However, it is important to understand that bankruptcy will have a significant impact on your credit score and financial future. It may also require you to sell some of your assets to pay off creditors.
Before filing for bankruptcy, you should consider speaking with a credit counselor or a bankruptcy attorney. They can provide you with valuable information about your options, including bankruptcy alternatives such as debt consolidation or negotiation. They can also help you determine whether bankruptcy is the right choice for you and guide you through the process.
Ultimately, the decision to file for bankruptcy is a personal one that depends on your individual circumstances and goals. It is important to weigh the pros and cons carefully and seek expert advice before making any final decisions.
Why Should you Choose FLP LAW Group as your Bankruptcy Law Firm in Torrance?
FLP Law Group is a trusted Los Angeles-based bankruptcy law firm that prioritizes the well-being and financial stability of its clients. Our team of experienced attorneys is dedicated to helping clients navigate the bankruptcy process and seek the best possible outcome for their cases. We offer several advantages to our clients, including extensive legal experience, dependability, effective communication, and access to resources. If you’re interested in working with FLP Law Group, we offer a case evaluation to discuss your options and priorities.
United States District Court Affirms Fourth Fee Order After FLP Knocked Out $5 million in Claims
FLP’s judgment creditor client Remares Global, LLC levied, pre-petition, on about $3,033,215.05 that debtor fraudulently transferred to his irrevocable trust. The trustee asserted Remares was entirely unsecured and that all was property of the bankruptcy estate.
FLP Law Group LLP Recovers 100% Plus Attorney Fees and Interest for Client and Successfully Defends Appeal.
FLP attorney Alan Forsley obtained an $865,000 judgment, including attorney fees, for its plaintiff client. Forsley then defeated defendant’s motion to vacate the judgment and proceeded to collect 100% of the judgment plus interest and attorney’s fees.
FLP Obtains Individual Debtor Discharge in Contested Chapter 11 Case and removal of $1 million of Judgment Liens Against Her Home
Debtor’s 2009 Chapter 11 case was closed after consummation of her confirmed plan by prior counsel. Notwithstanding the confirmed plan, two pre-petition law firms each obtained $500,000 judgments against Debtor and recorded liens against her multi-million home.
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I am forever grateful to Alan Forsley for defending me from an extremely aggressive creditor by winning two separate trials and 10 appeals that flowed from those trials and my bankruptcy case.
Attorney Alan Forsley took the time to truly understand the complexity of my case and planned ahead with a winning strategy. Alan was very professional and always willing to explain strategies to me so I could learn and understand throughout the process. With his experience and knowledge, Alan helped my family and I receive a fantastic settlement!
I feel extremely fortunate that Alan Forsley was willing and able to represent me when I discovered that I was being betrayed and defrauded by my fiduciary with whom I had a relationship of more than ten years. Due to Alan’s diligence and expertise I was able to recover in excess of a million dollars of assets.